Here’s What We Make Of The Recent Viuly (VIU) Run

Viuly (VIU) is gaining some real traction right now. The coin was trading for less than $0.02 a piece at the start of the year, and spiked to more than $0.11 by January 12, before correction back down to $0.03 on January 17.

Between January 17 and today, however, the correction has all but been negated. Right now, VIU goes for $0.6 a piece – up nearly 40% on its price just twenty-four hours ago.

So what’s behind the action and – perhaps more importantly – where does the coin go from here?

Let’s take a look.

First, a bit about the coin.

This is one that many might not have come across before. Blockchain is all about decentralization. We’ve seen numerous companies try and harness the technology to shake up legacy industries and technologies – especially over the last twelve months – and their respective success in doing so has been mixed.

Viuly is trying to do the same with video sharing.

We’re not going to take a position on the concept here other than to say it’s a pretty interesting one – basically, Viuly is offering a platform that allows users to share the content they’ve created, charge for it and receive donations, all that sort of thing.

VIU Daily Chart

Anyway, the reason this one is running right now is because it just completed a connection to the Ethereum Mainnet and – in doing so – has set up to potentially expand its userbase way beyond the level that an in-house blockchain build out would allow for.

Back towards the end of last year, the company completed an airdrop (which is basically just the handing out of free tokens) of more than 450 million tokens to 900,000 unique Ethereum users. The idea is that this airdrop will spark some sort of interest in the platform and what the company is trying to create, without having to rely on the traditional marketing channels.

And it seems to have worked – at least to a degree. As noted above, the coin (and the platform) is drawing some real attention right now in the space and the holders of these coins (many of who, it’s worth highlighting once more, picked them up for free on the back of an airdrop) are seeing the value of their holdings increase as the speculative attention flows in.

So what comes next?

Well, this one is all about two things – platform adoption and the availability (or perhaps more accurately, the liquidity) of the tokens that underpin the technology.

As the user count expands, so will demand for the token. It’s tradable on a few exchanges right now, including OKEx, Bit-D and EtherDelta, but it’s really going to have to pick up some top-tier listing if it’s going to be able to maintain and support the recent surge in volume and, in turn, if it’s going to log some long-term strength.

The bottom line on this one is this: this is a young coin that’s the basis of an interesting platform and concept that, if the team behind it can push in the right direction, has the potential to be a winner long term. That said, there’s a long way to go and a position at current levels, outside of anything acquired on the back of the airdrop, is speculative at best.

We’re going to be keeping an eye on the coin as it matures and as the Viuly platform builds out and expands, so we’ll update our readers a little farther down the line if we change our bias.

One to watch, but given its relative immaturity, there’s risk here as well.

We will be updating our subscribers as soon as we know more. For the latest on VIU, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Viuly