The last 24 hours have been a tumultuous time for the crypto-markets. We have seen our favorite digital assets literally nose-dive in value and in front of our eyes. Many traders have cashed out completely. Others have cashed out temporarily until the storm is over and as they look out for the strong coins and tokens to present themselves in the markets. One such coin is Stellar (XLM) and it has edged out EOS (EOS) from the number 5 spot according to coinmarketcap.com.
The total market capitalization of XLM at the moment of writing this stands at $3.992 Billion and that of EOS is at $3.936 Billion. A good $56 Million in value stands between the two currencies and only time will tell if EOS will respond to the level of stability showcased by XLM during the current time of turmoil. A better picture of the current situation at the top 6 can be seen below.
Next in line for XLM is Bitcoin Cash (BCH) that has dropped to levels only seen when it was released just a year ago. Many are saying it could get worse for the coin but it would take a halving in value for XLM to zoom past BCH on coinmarketcap. This means that BCH would have to drop to under $300 for this to happen or XLM would have to double in value. The latter situation is highly probable given the resilience of XLM.
What about XRP?
John Bollinger, the inventor of the Bollinger Bands used in the technical analysis of both traditional and crypto markets, had expressed his concerns about the rapid decline in value of XRP in the markets. He had noted that the digital asset had dropped in value by 90% since its impressive bull run of January. According to him, the time was nigh to see signs of longtime HODLers folding and selling all their XRP.
One of the major factors that might accelerate the decline of XRP is the current SEC scrutiny as to whether the digital asset is security or not. The second factor is the pending lawsuits against the Ripple company that claims the firm issued an unregistered securities sale.
Looking at XLM, it has been good news after good news for the project and coin. We have had news from its partner, IBM, that hint towards massive adoption of the Stellar blockchain on a grand scale. There is also the possible addition of XLM by Coinbase. This fact means that the American exchange prefers XLM over XRP due to the pending court cases and SEC scrutiny. The future is bright for XLM.
To trade cryptocurrencies, sign up with Binance!
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 Pexels
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…