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!
Blockchain technology outshines Bitcoin and Gold during global pandemic
As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.
However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world.
Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.
What is blockchain technology?
Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see.
Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).
Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…
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…