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The Past Few Days of Bytom: How Things are looking for BTM HODLers

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Bytom
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When Bytom was first introduced to the crypto-traders in August 2017, it took the entire world by surprise with its unique blockchain ecosystem. Unlike Bitcoin’s single layer or Ethereum’s double layer system, Bytom offers a triple layer platform consisting of a transaction layer, a transmission layer, and an asset interaction layer. Right at the beginning, Bytom exhibited a price surge that took it to a market cap of nearly 200 million US dollars and it reached its pinnacle during the April of this month when its market cap crossed the $1 billion mark.

Although this currently has been unable to show any conspicuous upsurge in the past two months, BTM’s development team has been working tirelessly on several aspects to make this currency even more efficient and convenient. On June 15th, Bytom team released a comprehensive progress report containing major updates occurred in the past week.

Here, some of those developments would be discussed to depict a picture of its present condition along with its probable future.

Major Project Updates: 

Bytom team has made considerable progress in project development as well as community building during the previous week. They posted major updates on a couple of their projects namely:

  • Bytom Eco Conference: The team officially announced about the Eco Conference that is about to be held on 29th of June, 2018 in Wuzhen, China. All of the core community members along with the contributors, technical developers, and Bytom ecological partners would attend the conference themed as “The Taste of Blockchain”. This conference is likely to generate some new and ingenious ideas with an entirely new perspective and consequently make its ecosystem more secure and convenient.
  • Venture Capital Project: Venture capitals hold a significant position in the global cryptocurrency trading at the moment. On 10th June 2018, the CEO and founder of Bytom Duan Xingxing attended the 20th China Venture Capital Forum and gave a keynote speech about the nuances of blockchain technology. If Bytom becomes successful with a few major venture capital organizations, going up the ladder in the cryptocurrency market is likely to become a lot easier despite the market’s volatile nature. Since most of the reputed venture capitals are based in China, attending this forum could make a significant impact on BTM’s future.

Updates Regarding Mainnet Swap:

A significant number of exchanges and wallets supported Bytom’s token swap and completed the same over the past week. Some of these exchanges include:

  • io: Gate.io was the first exchange to support Bytom Mainnet and completed the token swap successfully. Besides, this exchange also announced its support for Bytom Mainnet asset along with ERC-20 asset. As of now, the deposited BTM coins on this exchange would be swapped automatically.
  • OKEx: OKEx also finished BTM token swap last week along with providing their support for Bytom Mainnet Asset. Also, the South Korean counterpart of this exchange also released some necessary information and data pertaining to this incident.
  • RightBTC: This exchange announced the completion of token swap on June 6th. As a result, now the users would need to perform any operation on the exchange and Bytom will be swapped automatically from ERC-20 to the Mainnet asset.
  • CoinEgg: The deposit and withdrawal process on this exchange was temporarily suspended due to Bytom’s token swap during last week. However, the process was successfully completed on the 13th of June while resuming deposit and withdrawal system back to normal.
  • KuCoin: One of the most reputed exchanges in the world KuCoin also announced their support for the Mainnet token swap of Bytom where they also mentioned about the automatic completion of this process while announcing the specific plan separately.
  • Bibox: Like the exchanges mentioned above, Bibox also announced its support for Bytom Mainnet swap along with deposit and withdrawal of Bytom Mainnet assets. Now BTM users would be able to swap their coins on this exchange without any operation.

Besides these exchanges, Bepal wallet, imToken, Huobi, Bitpie, Bixin, Hufu, BigOne, GDEX, and many others have announced their support for Bytom Mainnet token swap.

Notable Listing:

On 11th June, Bytom was listed on FCoin exchange with BTM/USD trading pair. FCoin is a well-known cryptocurrency exchange with various cryptocurrency trading pairs. This listing is likely to increase the circulation and popularity of Bytom to the crypto-traders around the world.

Other Developments:

On 14th June, Bytom announced the Bytom Global Ambassador plan. The aim of this plan is to cause an expeditious growth of this cryptocurrency in the market. Once the plan is implemented, it would provide a significant number of advantages to the traders starting from multilingual translation and content support to various pieces of platform information necessary to conduct trading.

Also, the Bytom team announced a very lucrative airdrop of 270,000 BTM tokens on 8th June 2018.

Current Condition of Bytom:

As of 18th June 2018, this cryptocurrency is going at a rate of 0.55 per US dollar approximately while having a market capitalization of nearly $550 million. The coin holds the 29th position on Coinmarketcap at the moment. The price chart of this coin is currently showing a steady and stable trend without any major escalation or downfall.

Final Thoughts: 

We all know that the principal characteristic of this market is volatility and therefore, it is practically impossible to pinpoint the future of a certain coin. However, with new community and project developments, BTM is showing considerable promise. Ergo, if you are a user of this coin, holding onto it wouldn’t be a bad choice.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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