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



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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