Here's Why We Think Einsteinium (EMC2) Is Just Getting Started - Global Coin Report
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Here’s Why We Think Einsteinium (EMC2) Is Just Getting Started

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Einsteinium (EMC2) is flying right now. Back at the start of November, EMC2 went for around $0.06 a coin. Today, December 6, this has reason to $2.12 apiece – a jump across the period of more than 3400%.

There is a clear driver behind the recent action and it’s one we will get to in a minute but, right now, markets are asking, is the degree to which EMC2 has appreciated justifiable and, if so, are we going to see a continuation of the action that brought the token to trade where it trades today?

We think the answer to both of these questions is yes.

Here is how we came to that decision.

Some reading might would be familiar with this one since it’s not a particularly new coin – Einsteinium first debuted three years ago and has maintained a relatively small but steady presence in the sector since it came on the scene.

EMC2 chart

EMC2 chart

For anybody not familiar with the company or the token, however, it’s set up to facilitate funding for the scientific community. Basically, 2% of every block and, by proxy, 2% of all mined EMC2, is distributed to various global scientific research projects. Holders of EMC2 have a vote, proportionate to the size of their EMC2 holdings, and the research funding is distributed according to this vote.

So, first, why is this one running right now?

Because, very near term the team over at Einsteinium is going to effect a hard fork and the primary impact of this hard fork will be a reduction in the total supply of EMC2 by around 55 million coins or somewhere in the region of 25% of the total circulating supply.

Okay, so right off the bat, this seems to be something of a problem. A 25% reduction in total circulating supply is going to mean that less money goes to the scientific research that this company and its underlying coin was set up to fund (remember, it’s a fixed 2% of the blocks mined).

That the company would do this, therefore, seems counterintuitive.

But there is another way to look at this entire situation.

When you restrict the supply of something it’s price increases. In this space, when we see a price increase, we also see a large increase in volume as more and more participants (normally, speculative participants) buy the underlying coin in anticipation of both short and long-term gains on their holdings.

So, the team at Einsteinium had a choice to make – continue as is, maintaining relatively low volume and keep supplying the same or similar volume of coins to its scientific research causes or, execute on a hard fork and gamble that the fork will bring with it a wave of volume and get things moving. Sure, the 2% will be based on a smaller number of blocks mined but if the price of the coin rises, the overall value of this 2% has the potential to eclipse its previous levels.

And it looks as though the gamble has paid off.

Dollar volume hit more than $300 million during the last 24 hours alone and EMC2 is up 110% across the period.

What we expect, therefore, is that this enthusiasm will continue as the coin moves into its hard fork and, in turn, that we should see a continuation of the dramatically amplified volume and, by proxy, the price gains we have seen recently in EMC2.

Sure, nothing is guaranteed and especially in the space, but if there’s a coin to get excited about right now, in our eyes, it’s EMC2.

We will be updating our subscribers as soon as we know more. For the latest on EMC2, 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 Einstenium

Chart courtesy of CoinMarketCap

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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CoinFlip

Although cryptocurrency has brought in a lot of traders seeking the dream of overnight wealth, cryptocurrency is a lot more than just striking it rich.  Cryptocurrency is about creating a new market with companies that are building cutting edge technology in an effort to continue elevating our way of life.  As the crypto market continues to expand, several companies are involved in creating ways for more people to participate.  One such company that appears to be making all the right moves is CoinFlip.

CoinFlip is the world’s leading cryptocurrency ATM operator that currently allows users to buy and sell 10 different cryptocurrencies including BTC, ETH, LTC, DASH, TRX, KMD, LINK, BNB, XLM, and USDC.  Due to the company’s quick growth, CoinFlip has quickly gained a reputation of being the place to go for all crypto ATM transactions.  In addition to its massive geographic coverage, there are four advantages that CoinFlip currently offers over its competitors:

  • Lowest fees of any cryptocurrency ATM in the world
  • Lightning-fast transactions that are typically completed between 10 and 30 minutes
  • Extremely easy customer verification
  • 24/7 customer support through phone, text, and chat

Given the global pandemic currently facing us, many companies have been struggling just to survive.  CoinFlip, on the other hand, is not only surviving but thriving.  The company has had an exciting few months and has even bigger plans for the future.

Partnership with Monarch Wallet

On May 5th, CoinFlip…

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Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving

In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on regulated exchanges. 

Most of the leading exchanges adhere to…

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