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.
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.
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.
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.
For the latest cryptocurrency news, join our Telegram!
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…