PACcoin (PAC) has had an incredible start to the year in 2018. The coin was trading at just $0.000004 a piece on December 26, 2017. At its most recent close, this had risen to $0.00027. We are still talking way below one penny, but with a more than 6000% increase in a matter of weeks, this is very much want to watch at the moment.
The community behind it (and this one is very much community driven) is buzzing about the run (understandably so, they’ve seen their holdings soar by thousands of percentage points practically overnight) and there’s plenty to suggest that this could be just the start of a long-term reevaluation for the coin in question.
The question is, are these suggestions valid, or is this run just a temporary spike in an otherwise relatively low volume coin?
Let’s take a look.
By way of brief introduction, this one has a bit of an unusual past.
The coin was first started back in 2013 by William Corliss as the Pacifica Nation’s official coin. After a while, however, the project went dead and the coin essentially was left in limbo.
Around four years after it was launched (so, in 2017) a team picked it up and started putting some effort into a rebranding. The team behind the rebranding labeled it PacCoin, with the PAC standing for People’s Alternative Choice.
As outlined in the company’s brand guideline (available here), the team behind the coin now is one comprising marketers, developers and crypto enthusiasts and the tea is focused on its so-called four ‘C’s:
With a mission statement of building a strong community that is able to provide charitable solutions via content, media & alternative choices.
So, that’s the scoop on what this one’s all about – let’s get back to the nitty-gritty, can the coin continue to appreciate?
As per company communication, the community behind this one right now is in excess of 100,000, meaning that more than 100,000 individuals hold PAC at this moment (we’re assuming the team has measured this by way of a wallet count).
That’s not bad for a coin that carried a market capitalization of just $3 million this time last month.
And as far as we’re concerned, it’s all about how much this community can push beyond its current scope. The model that PAC seems to be employing is one that rewards community expansion, with an affiliate type model that rewards affiliates for bringing new users on board with PAC.
That’s a model that – as yet – is relatively untested in this space but that far from negates its potential efficacy. If you want growth, incentivize it.
And it’s based on this that we’re maintaining a bullish bias on PAC heading into early to mid-2018. The coin is picking up some momentum on the back of the recent run and we expect the increased attention that comes with the sort of activity we’ve seen over the last week or so to push the coin higher near term.
There’s always a chance, of course, and it’s one that anyone looking to pick up an exposure at current prices should consider, that we might see some degree of near-term correction on recent highs (indeed, we already have seen something of a correction, with PAC currently trading around 40% off Saturday highs at open market pricing early morning on Wednesday).
This is symptomatic of the shorter term operators pulling profits off the table as opposed to any longer-term reversal and could be a nice opportunity to pick up some cheap coins ahead of a turnaround.
As a near term catalyst (or two), keep an eye out for any fresh exchange listings. The company reportedly submitted applications to a number of majors at the end of last week.
We will be updating our subscribers as soon as we know more. For the latest on PAC, 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 PAC
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
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…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…