Bitcoin
Here’s Why We Think Populous (PPT) Could Be A Smart Long Term Pick
One of the major impacts that bitcoin and the blockchain space is having on global industry is disruption-by-update. In the same way that many industries migrated to a network infrastructure on the back of the internet going mainstream, many more are now migrating to a blockchain based infrastructure (still network-based, of course, but decentralized) in order to address various inefficiencies associated with their legacy framework.
PPT Daily Chart
Some of these are well-known, household type industries – healthcare, entertainment, that sort of thing. Others, however, are perhaps not as well-known but still represent a considerable amount of opportunity for both the companies doing the disrupting and the traders and investors that back their growth.
These smaller, more niche industries represent low hanging fruit and one that we’ve had on our watch list of late is Populous (PPT).
PPT is up a little more than 32% over the past 24 hours but go back circa 30 days and this percentage gain figure rises to more than 510%.
Here is why we think this one’s one-to-watch going forward.
The industry that Populous is going after is called invoice financing. Chances are that many won’t be familiar with this industry so it’s worth jumping into a bit of an introduction as to exactly what invoice financing is before trying to explain how Populous is set to disrupt it.
It’s actually quite simple. When a company issues an invoice for goods or services rendered, there is generally a lag (30 days, 90 days, etc.) between issue and payment. This can cause problems with cash flow, especially when the company operates in a capital-intensive industry and, as such, a market exists through which they can monetize their invoices ahead of payment delivery.
Basically, an invoice buyer will pay a fee for what amounts to control of the invoice. The buyer pays less than the invoice totals and then, when the company to whom the invoice was initially issued delivered on payment, the payment is received by the invoice buyer (as opposed to the company that initially issued it).
The buyer makes their money on the difference between the price they paid for the invoice and the settlement they received when the invoice was paid at due date and the invoice seller doesn’t have to wait until due date to cash in on the invoice they issued. Everybody wins.
It’s a neat market but it’s one that, right now, is very localized and limited. By using blockchain technology as a framework for this industry, Populous thinks it can turn it into a global decentralized and transparent market – and we think the company has a solid chance of doing exactly that.
The thing is, the niche quality of this market right now means that Populous is the only company that’s trying to tackle it.
Exactly where things will go from here on a more short-term basis is tough to say. The volatility that we’re seeing right now in these coins is very much linked to the volatility that we are seeing in bitcoin and – by proxy – the potential for a near-term correction cannot be negated.
With that said, however, even against a backdrop of corrective activity, that a large number of these disruptive-type companies are going to succeed longer term is practically a given and it’s not going to take much from a speculative volume perspective to really get PPT moving above and beyond current levels.
As such, any near-term correction that hits the latest run could be a nice opportunity to pick up some discount coins ahead of an overarching return to the upside.
We will be updating our subscribers as soon as we know more. For the latest on PPT, 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 Populous
Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.
Fundamentals
Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.
Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.
Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.
Last week on Thursday, cryptocurrency experts took notice of…
Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.
Economic Outlook
Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.
The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.
Additionally, the central bank indicated that three rate…
Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.
Fundamentals
Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.
According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.
Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…
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