SALT Coin Hits Retracement Target After 55% Gains - Global Coin Report
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SALT Coin Hits Retracement Target After 55% Gains

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SALT coin

The announcement by SALT coin to accept Litecoin (LTC) as collateral in their blockchain lending platform led to an explosion in the price of their ERC-20 token. In a 24 hour shake-up that rocked the altcoin market just before the weekend, this crypto-lending favorite rose over US $0.82 on Friday morning. SALT (SALT) shot up 55% overnight while the rest of the market stagnated in a prolonged malaise. The announcement was made on the SALT (SALT) platform blog Thursday.

The SALT Lending platform allows users to make real-world expenditures without losing potential gains from their cryptocurrency holdings. By allowing fiat loans backed by crypto-assets, SALT coin aims to bring needed liquidity to the market. While traditionally allowing loans backed by Bitcoin (BTC) and Ethereum (ETH), the addition of Litecoin (LTC) will likely bring a multitude of hodlers to its service. Litecoin (LTC) enthusiasts are understandably anxious to benefit from their accumulated stockpiles of yester-years crypto-darling.

Litecoin (LTC) has benefitted recently from a number of articles surrounding its acceptability. As reported by Forbes, Litecoin (LTC), along with Ethereum (ETH), may soon be traded in the futures markets. While investors are excited by the potential for upward price movement related to this development, it is easy to point out that futures trading did not help stem the losses of Bitcoin (BTC), which subsequently fell over 60% from its highs late last year.

Litecoin (LTC) is gaining in usability and is now accepted as payment for a variety of goods, from luxury cars to gift cards. Founder Charlie Lee recently purchased an Amazon gift-card with Litecoin (LTC), and quickly tweeted the transaction to the delight of followers and enthusiasts.

SALT coin announced a few other changes to its service along with the addition of Litecoin (LTC) as acceptable collateral. The platform now offers USD loans at a 5.99% interest rate (for loans less than US$75,000) and has removed the cap on maximum loan amounts. Having expanded their reach into 15 additional US jurisdictions, the company is gaining trust with a serious investor community that includes individuals, mining operations, exchanges, and blockchain institutions. According to their blog, “This rapid expansion of services comes on the heels of our 20-state expansion in August, bringing us closer to our goal of being fully operational in all 50 states.”

SALT (SALT) was founded in 2016. The lending platform launched in 2017. Having peaked with a price of US $17.68 in late December of 2017, the past months have been a bit more harrowing for their investors than for the typical Bitcoin (BTC) hodler. However, as the general market stabilizes, and the SALT (SALT) platform expands, the potential for gains may again be realized for the properly positioned investor in a brand new crypto-market.

The current price of SALT coin has fallen from it’s high Friday morning, retracing to its current value of approximately US $0.65. This marks a nearly perfect 62% Fibonacci retracement and will signal a buying opportunity for investors waiting for the right opportunity to jump in.

If you missed the recent announcement and were hoping for the right opportunity to add SALT coin into your portfolio, now may be your best chance.

For the global insights every crypto trader must have, apply for Elite membership!

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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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