Bitcoin is correcting right now and has taken a pretty substantial hit subsequent to reaching all-time highs during the session yesterday. Some of the smaller tokens, however, are picking up strength against the grain.
Here is a look at two of the biggest upside movers of the last 24 hours in the cryptocurrency space with a discussion of what’s moving each and where we expect the coins in question to go next.
The two coins we are looking at as part of this discussion are Wagerr (WGR) and SunContract (SNC).
So, first up, Wagerr.
Over the last 24 hours, WGR has risen by just shy of 25% and currently trades for a price of $0.08 a coin. This is up from an ICO price (back in July) of $0.65 a piece – a 24% appreciation and very much in line with the one we have seen over the last 24 hours.
When you expand the timeframes out to seven days and 30 days, the numbers come in at 21% and 63% respectively. Taking a look at this one from an overarching perspective, therefore, Wagerr seems to be very much on the up and the latest run is in line with the longer term bullish trend for the cryptocurrency.
So what’s driving this action?
First, for those not familiar with this coin, Wagerr (the company) created a sports betting blockchain and called it Wagerr and, on top of the blockchain in question, created a token called WGR.
The token was primarily created so as to facilitate an initial coin offering (the above-mentioned July issue) but can also be integrated with the platform as a sort of value-added asset and it’s this integration that drove much of the buying volume when the ICO first took place.
So what happened recently?
Well, over the last couple of days, we got confirmation that the company’s sports betting network, both the mainnet and the testnet, will launch on January 15, 2018.
This is the launch that the ICO was set up to facilitate and it looks as though markets are buying up on WGR on the company’s confirmation and, in turn, the suggestion that it is executing against its roadmap and that valuation should increase once the network is live.
There’s a good chance we will continue to see this one appreciate heading into go-live date, meaning there’s probably some further upside between now and the start of next year for anybody looking to take a position in line with the overarching upside trend.
Moving on, SunContract.
This is actually one that we took a look at earlier on this week, with the token making our list of biggest ICO losers on Tuesday. For anybody looking to get a bit of background on the coin, it’s worth reverting to our previous coverage, available here.
By way of a brief introduction, however, this one is set up as a clean energy type payment system and, over the last few months, it’s really started to gain traction in the market and appreciate in value. Earlier this week, however, the coin took a hit.
We concluded that the downside action we were seeing was likely symptomatic of shorter-term profit-taking and that we would almost certainly see a return to the upside momentum once the profit-taking subsided.
And that’s exactly what has happened.
SNC is now up 10% over the last 24 hours and a huge 209% over the last 30 days. We think this one has a strong run at success and, in line with this statement, we think it could make a nice long-term allocation for anybody looking to pick up an exposure to the energy side of this sector.
As the recent action has shown, there’s always the potential for short-term corrections but these can be seen as buying opportunities so long as, fundamentally, the company continues to expand its reach.
We will be updating our subscribers as soon as we know more. For the latest updates on WGR and SNC, sign up below!
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…