A new development sees a massive price boost for ICON (ICX), and WanChain (WAN) follows. The coins went up by 25% within only 24 hours, making them the two best performing cryptocurrencies in the last two days.
There is no doubt about it; the crypto market is slowly recovering after more than half a year of price reductions. While many coins are in the green right now, not all of them are progressing equally. Coins like IOTA and EOS have seen big gains, which go from 4% to 15%, however, as great as this is, they are not the stars of the show.
That honor goes to ICON (ICX) and WanChain (WAN), which have experienced a 25% boost in price. And, while it doesn’t seem like much, but it is, the total crypto market cap increased from $213 billion to $214 billion.
Issues with volume
The last week has been interesting for cryptos, and while a lot of them performed rather well when compared to the rest of the year, there were still significant issues. One of the biggest ones that have been bugging the analysts concerns the volume, which was going down throughout the week. Bitcoin volume was specifically low, and it went from $4.5 billion to only $3.5 billion in a single week.
The similar situation can be seen with other top coins, like ETH, XRP, BCH, EOS, and others. Their daily trading volume dropped a lot, especially Ethereum’s, which has seen a decline almost as large as Bitcoin’s (from $2 billion to $1.3 billion).
One interesting thing is that Tether (USDT), which is a stablecoin tied to the dollar’s own value, has not only shown immunity to the decline but has actually managed to advance its own volume from $1.5 to $2 billion. This shows us that a lot of investors still rely on the dollar and more than they do on their chosen cryptos.
While a lot of investors have predicted that Bitcoin will start going down because of this, and will rather drop below $6,700 than go above $6,850, it would seem that they were wrong. At the time of writing, Bitcoin’s price is at $6,954.50, which puts it extremely near to $7,000 mark. This came as a surprise to a lot of crypto experts, who seem to have honestly expected BTC just to start dropping again. Contrary to their claims, Bitcoin just keeps on climbing for some reason and is leading every single crypto (except USDT) within the top 50 with it.
Tokens depending on BTC
August has been a busy month in the crypto world, and cryptos have shown every sign that they wish to drop the bear market and start running with the bulls. However, they struggled with a lot of resistance, and Bitcoin itself went up and down almost every day. As expected, the tokens followed Bitcoin’s behavior, and have started making waves on a daily basis.
Until BTC broke off and exceeded $6,850, many expected that it would go down, while the altcoins will experience much bigger losses. However, for some reason, none of this has happened as of yet, and all cryptos are still in the green. With the current situation, a lot of experts have been proven wrong, which is pretty much a good thing, considering their grim predictions. The next few days are expected to show if this is truly a new bull run, or is it just a temporary price surge that simply went better than expected.
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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 and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…