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Investing in KIN: What Future Awaits KIN Holders by the End of 2018

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KIN
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Nowadays you would find certain cryptocurrencies in almost every existing industry starting from entertainment to education, medicine, social media, and even sports. The concept of using a virtual currency for transaction and payment, which started back in 2009 with only one legitimate currency named Bitcoin, has now proliferated into using nearly eighteen hundred currencies among which circa 1600 coins are used by various traders on a quotidian basis. Every day new ICOs are being tokenized into new digital currencies thereby making the cryptocurrency market even more competitive. Under the circumstances, each cryptocurrency currently available in the market along with new ICO start-ups is trying to provide something unique to their traders.

As social media has become an inextricable part of modern human life, different cryptocurrencies are trying to work this new trend to their advantage. Kin coin (KIN) is certainly one of the most successful names among such cryptocurrencies. This coin was introduced to the traders in September 2017, by Kik, one of the most renowned social media companies in Canada, after raising a whopping 98 million USD in its token sale. The coin is still under constant technical developments which are likely to be completed by the end of this year. Here, you would find out some significant facts about this currency helping you to depict a probable future for the KIN holders by the end of this year.

The Purpose of Kin at a Glance:

Kin coin was developed by the Canadian social media company Kik for the purpose of providing a blockchain platform where content developers and consumers are able to transact directly in lieu of depending on some advertising revenue for monetizing the content creation service. By nature, Kin coin is currently an ERC-20 token. However, the developers of this coin are making upgrades incessantly in order to integrate this currency to Kik app and to make an atomic swap with Stellar token possible for better scalability.

Kin Integration to Kik:

Kik is one of the most popular social media platforms (ranked 7th) and belongs to the list containing big guns like WhatsApp and Facebook messenger. Besides chatting, this platform also allows sharing photos, videos, and other forms of various contents. As per recent statistics, this application has more than 15 million monthly users which majorly consist of people belonging to the age group of 13-24 years. One of the main reasons behind Kik’s popularity is its anonymity feature. The privacy protection protocol on Kik platform is fairly rigid and indecipherably encrypted. Through this integration, Kin’s development team are trying to make the usage of cryptocurrency more familiar to the mass. Kik’s platform holds the reputation of introducing new innovative products successfully to people residing all across the globe. Therefore, it can be expected that with Kin’s integration to this application would certainly increase its circulation throughout the world eventually increasing its popularity.

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Also, Kik application has recently implemented a new feature of rewarding the content creators directly. Through this integration, KIN will be extensively used for this purpose and for making other transactions and payments as well.

The Kin Ecosystem Foundation

The Kin Ecosystem Foundation is an independent non-profit governance body for Kin cryptocurrency. It endeavors to be the provider of various tools for digital communication. According to Kin’s whitepaper, the Kin Foundation has three principal goals for fulfilling their mission to become an open ecosystem of digital services and communication. These three goals include:

  • Governance Goals: Establishing a governance system that would cater to the desiderata and complaints of all users using the Kin ecosystem.
  • Research Goals: Developing an ecosystem where new and innovative methods can be tested along with drive value creation and network effects.
  • Development Goals: Development of new tools with ingenious features by engaging in partnerships with various companies in order to make the ecosystem more convenient. The development team would maintain an open source code base for this purpose.

Launch of Kin’s Own Blockchain:

On 8th May 2018, Kin’s development team announced the launching of Kin’s own blockchain which will be based on the blockchain design of Stellar Lumens. The Kin Foundation already leverages the Ethereum blockchain for offering liquidity and security to the KIN holders. Once this blockchain is launched, Kin’s objective to create a hybrid ecosystem would be fulfilled and eventually, Kin’s ecosystem would be able to offer a much faster and more scalable transaction system to their traders.

Kin’s Current Condition:

As of 9th May 2018, Kin’s price is equivalent to nearly $0.00016. Its market capitalization stands at approximately 125 Million USD at the moment, giving this coin the 133rd position on Coinmarketcap. In January 2018, Kin reached a market capitalization surpassing the 400 Million USD mark. Compared to that, the current situation might seem a little bleak. However, since the announcement of Kin’s own blockchain launch, new investors are beginning to take some interest in this currency causing a lasting upward trend.

Final Thoughts:

Both social media and cryptocurrency are becoming indispensable to human life nowadays. Under the circumstances, Kin’s approach of combining both of them is likely to grab the attention of a significant number of people. Also, with 1 trillion coins available, circulation wouldn’t be a problem for this coin. If the development team continues to upgrade Kin’s ecosystem by implementing new features, the current Kin holders could expect for a lucrative outcome by the end of this year.

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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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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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