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Monero (XMR) goes stable as fees go down

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Monero’s coin is called XMR, in case you didn’t know. The currency’s value has flat-lined over the last week which is not so surprising if you take into account that even Bitcoin has become stable (which is a plus for traditional investors) so it’s not bad news.

This comes off the back of Monero’s new network update, called “Bulletproofs” which was deployed about a week ago.

XMR has been untypically stable over the last couple of days. As we write this article the XMR/USD rate is at $103.64, so it’s at its peak, Over the last week it’s been fluctuating between 102.22 and 109.30 which means it’s behaving as a stable currency that is also rising in value. That is very rare in the current market.

Monero‘s value in terms of market capitalization is 1.7 billion. That means it’s tenth in terms of market capitalization, which is no mean feat for a coin that doesn’t get the limelight that Bitcoin, Tron, XRP or Litecoin get all the time.

Last Monday the token’s trade volume went over $14 million, mainly carried out at Bithumb, the Sout Korean exchange, which is no surprise as this is a country in which there is a lot of enthusiasm for the cryptosphere.

Monero (XMR) Transaction Costs

Monero’s most recent hard fork happened on Oct 18, one week ago. This update has given Monero’s blockchain a huge advantage in terms of cost as transactions fees have become lower, almost insignificant. As we write this, Monero’s users are paying 2 cents per transaction, which is 97% lower as compared before Bulletproofs was implemented.

This savings in cost are due to the shrinking of cryptographic proofs and data requirements required to perform every single transaction.

The new fork is officially called Monero 0.13 Beryllium Bullet and it’s not only quicker and cheaper. It’s also safer. If you’re the kind of guy who likes rather useless but interesting data, the new fork was implemented from block 1685555 and the Bulletproofs technology starts from block number 1686275.

The new Monero’s blockchain improves its credibility and it makes it the main project in the world that aims to protect users’ privacy in the market as they work against the trend towards centralization that’s been so criticized in so many other blockchain networks. It’s because the new protocol is designed not to allow ASIC miners to take control over the whole network (as it’s feared it could happen with Bitcoin, which is more than 50% mined in China).

Miners are already reporting that the new protocol makes mining quicker, easier and safer. This gives smaller, more average enthusiasts, the chance to become miners and get some profits from this activity.

So Monero is moving forward and making things easier at a time in which other projects such as Ethereum are making things harder and more expensive for their own communities. This shows the project’s leadership has perspective and knows where it wants to go. They have learned how to adapt to the market instead of expecting the market to adapt to them (think Ethereum, Bitcoin).

Monero may not be getting the limelight. But don’t ignore it. If they keep moving forward this way, they could outdo many famous blockchains.

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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.

Image courtesy of Myriams-Fotos/Pixabay

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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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…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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