SmartCash (SMART) is attracting a substantial amount of attention in the markets this week. The coin, SMART, just reached the magical one-dollar threshold and, in doing so, has boosted its market capitalization to more than half a billion dollars ($578 million as things stand).
24-hour volume came in at just shy of $2 million, suggesting that it doesn’t take much to move this coin considerably.
When you consider that SMART traded for around five cents apiece to the beginning of December 2017, current price (which represents a more than 1300% premium) shows just how far this one has come in such a short period of time.
So, the question now becomes, what’s next? Can the coin continue to run against a backdrop of weak market sentiment across the more established coins, or is this nothing more than a spike?
Let’s take a look.
First up, what’s this coin all about?
SmartCash was forked from the zcoin project and launched mid-2017, and bills itself a community governance, cooperation & growth focused blockchain based currency & a decentralized economy. That’s a bit jargony, but it basically means that this is a cryptocurrency that breaks down its rewards (i.e., those batches of coins that normally go to miners and coins like bitcoin and Litecoin) and allocates each portion to a few different groups.
Specifically, 80% of the block reward goes to fund SmartHive (which is the dev community for the coin) community proposals as well as the Hive Teams (which are the devs that comprise the SmartHive). 20% of the remaining block reward goes to the miners (amounting to 5% of the remaining 20%) and SmartRewards (which accounts for the remaining 15%).
The idea, then, is that by putting the community first and by concurrently putting a large portion of the company’s focus on making sure the coin is secure and private, SMART can solve many of the problems commonly associated with the more established coins.
So what’s driving action of late?
In our eyes, a few things are pushing this coin up.
First, the fact that many of the more established coins are running into trouble based on scalability and, at the same time, are also experiencing community dispute issues, is leading crypto enthusiasts to seek alternatives – alternatives that aren’t likely to suffer from similar issues as they mature.
SmartCash very much falls into this latter category.
Second, while we would expect a coin that’s focused on community to have a strong following, very few are as dedicated from both a development and an awareness perspective as that of SmartCash.
It seems that a decentralized community that is frequently rewarded with SmartRewards is the way to go as far as building up brand loyalty is concerned and SmartCash has done a great job of doing exactly that, which is something that could prove pivotal as the coin moves from its current number 66 ranking in the cryptocurrency charts and towards the hallowed top 20 bracket.
So let’s get back to the initial question, what do we think comes next from this one?
From a momentum perspective, things look incredibly strong right now for SmartCash. The coin is picking up strength on relatively low volume and, as it rises further, speculative volume is only going to increase, meaning we could see something of a perfect storm catapult SMART above and beyond the current one-dollar threshold.
Keep in mind that we may see a retest of one dollar near-term and, potentially, maybe even a break back down below this level as shorter-term operators pull profits off the table.
Outside of this correction, however, our bias remains firmly to the upside.
We will be updating our subscribers as soon as we know more. For the latest on SMART, sign up below!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of SmartCash
MGO Token Could Surge After New Payment API Release
Although February delivered a brief glimmer of hope to crypto traders after BTC surged above 4,000, the euphoria was short-lived. It appears as though the bear is here to stay for at least the foreseeable future. Despite the challenging times, there are projects that continue to deliver in the face of adversity. One very promising company that I have covered before is MobileGo (MGO).
Introduction to MGO Token
MGO is a smart token that could usher in a new era in the gaming industry. The token’s purpose is to gamify the eSport platform and incentivize gamers for loyalty and participating through rewards. The team at MobileGo continues to work on establishing strategic partnerships and alliances (such as with Xsolla), expanding its global reach, and making games available to everyone around the world.
The token has several inherent benefits. For gamers, it will help facilitate peer-to-peer match play and decentralized tournaments, serving both as a match reward and an entrance fee. Additionally, MGO token owners will have an opportunity to generate additional discounts good toward purchasing in-game content.
Game publishers and developers will also reap the benefits of the MGO token. Game publishers have the option to be paid in MGO, which has several major advantages of traditional FIAT, including the speed of processing payment requests.
Team Just Released a New Payment API for Developers
One of the things…
Lost Money When BTC Plunged? Here is How I Earned Back!
Bitcoin has keep downtrend for 13 months since the last bullish market in December 2017. Price has found support at the $3,600 area, though, and a pullback is taking place. Speculators, who want to make great profits on the BTC investment in a short period, have their funds locked up in the BTC spot market.
Investors worldwide are increasingly opting for BTC futures contract. Compared to the spot market, BTC futures trading can be an advantage for investors since it is a fast and cost-effective way to hedge BTC spot trades. With the price of BTC fluctuates repeatedly, BTC futures trading is much better for investors to profit from the price movements. And the leverage also allows investors to control a large contract value with a relatively small amount of BTC hold.
How to Trade Bitcoin Futures Perpetual Contract in Bexplus?
Bexplus is a promising Bitcoin futures exchange, providing BTC, ETH and LTC perpetual futures with up to 100x leverage. Different from the weekly or quarterly cycle which has expiration, perpetual futures enables traders to end the contract anytime at any price they want. And they can trade both sides of the market, i.e. getting long when they predict the BTC may rise or going short assuming the price may come down in short or medium-term in the future. 100x leverage can seem risky, but when used properly…
Wirex adds WAVES to its Platform
London UK, January 10th2018 – Wirex, the UK FCA-licenced digital money platform that facilitates the seamless conversion of cryptos and traditional currency, has joined forces with Waves to add the in-demand WAVES token to its platform. The WAVES token holds a unique place in the cryptocurrency spectrum because its underlying utility addresses some critical hurdles that hinder the mainstream adoption of blockchain technology, such as scaling, interoperability, and security.
Sasha Ivanov, CEO and Founder of Waves Platform, says, “We see Waves as the bridge that will facilitate the transition from web 2.0 to web 3.0. The goal of our team is to put tools in place that will allow both enterprise and individuals to easily implement their own blockchains while improving the UX of DApps and blockchain infrastructure.”
Like Wirex, the Waves Platform was purpose-built, and since its launch in 2016, Waves has become one of the fastest, most secure and user-friendly public blockchain platforms available.
In terms of its underlying protocol Waves is closer to Ethereum than Bitcoin. Ethereum is used to develop various DApps, but it can be expensive due to its Smart Contract language complexity and Gas fees that can grow dramatically over time. Waves Smart Contracts are simplified – they are a plug-and-play solution with fixed fees. Another improvement is the Waves-NG protocol with throughput of up to 1000 TX/s.
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