Connect with us

Bitcoin

Here’s Why Matchpool (GUP) Just Gained Close to 100% In A Day

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Anybody that has spent some time in the initial coin offering (ICO) space will likely already be familiar with Matchpool. The company conducted what was – at the time – deemed a highly successful ICO backing April 2013, raising just shy of $6 million with the goal of using the capital to develop a networking type platform (more on what the platform does in a moment).

Almost immediately subsequent to the ICO closing, however, problems started to arise. The company announced that Matchpool co-founder Philip Saunders had resigned his position and that a portion of the capital raised through the ICO, what amounted to around $1.75 million at the time, had been withdrawn from Matchpool’s ether wallet.

People started to panic and the token that was used as the basis for the ICO, what’s called GUP, started to fall. During the subsequent few weeks, however, the concerns were explained away. The $1.5 million withdrawal was purely an exercise in risk mitigation (the funds were converted to bitcoin, which was – back then – far less volatile than ether) and the cofounder resignation was revealed to have been amicable and, perhaps more importantly, was resolved with the company bringing on a renowned Israeli military software developer as CTO.

Anyway, fast-forward to the end of the year and things are really starting to move at Matchpool. The company has launched an alpha release platform that looks strong and its market capitalization (or, more accurately, the market capitalization of the GUP token base) is rising fast. Over the last 24 hours alone, GUP has gained close to 100% and currently trades for $0.46 a piece, up from the $0.09 at which the token traded on ICO day.

Outside of the overarching operational developments, however, there is another input here that is driving the recent spike in both volume and price and we suspect that said input could control price for at least the rest of this week, meaning that even on the back of the recent gains, there could still be some opportunity for a short-term profitable exposure to GUP.

Before getting to that, let’s quickly touch on the platform itself.

The best way to think of it is as a sort of community type platform that requires users to be introduced to one another, with the person who does the so-called matchmaking (the person making the introduction) receiving payment in GUP for doing so.

It’s like an incentive-based LinkedIn sort of system.

So that’s the concept and it’s a relatively simple one but – we think – neat at the same time.

Where’s the opportunity here?

Well, towards the end of this week, Matchpool is going to issue a secondary token called QGUP on top of the Qtum blockchain. Current holders of GUP on the Ethereum network will have an option to claim the second token on a 1:1 basis, within a limited timeframe. The assumption is that QGUP will rise in value in line with the GUP token that’s currently primarily representative of the platform’s valuation and, in turn, this assumption is driving an increased demand among GUP traders and investors who wish to pick up an exposure in an attempt to capitalize on the 1:1 issue of QGUP.

We saw pretty much exactly the same type of action in bitcoin ahead of the bitcoin cash hard fork earlier this year. This isn’t a hard fork, of course, but the concept is the same as far as picking up freely distributed secondary tokens is concerned.

Keep in mind that we may see a correction immediately subsequent to the secondary issue as the shorter-term operators pull profits off the table but, longer term, we expect the correction to reverse pretty quickly.

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

Image courtesy of Matchpool.

Bitcoin

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

Bitcoin has been crowned king of altcoins, probably because it was one of the earliest and most successful of its kind. The trendsetter has ushered in a wave of cryptocurrencies built on decentralised P2P networks and has inspired a growing number of followers and spinoffs. But is Bitcoin struggling to keep up with the newcomers who have made considerable developments to the stability, security, and usability of the crypto world?

The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Elite