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Why EOS and Litecoin Are Worth HODLing for the Long Run

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The current cryptocurrency slump has made investors rethink their investment theories and look out for flaws in their portfolio. As Bitcoin does not seem to improve its current position, altcoin markets suffer greatly. Many vital projects have gone through a transitional phase since the Bitcoin dip started. Some of these projects are constantly being monitored for any flaws and scans but there isn’t only blood on the cryptocurrency markets today. Some altcoins are brave enough to make a reversal in the present situation and support its investors. Such altcoins are EOS and Litecoin. Both of these cryptocurrencies are ranked among the top 6 largest cryptocurrencies of the world (according to CoinMarketCap).

In this article, we shall discuss further the potential each of these cryptos has inside themselves to change the course of markets once the Bulls are set in place.

About EOS Recent Performance:

Known as the most successful ICOs ever (raising $4 billion in one year). Even before entering the crypto markets, it challenged the DApp giant ‘Ethereum’ to become the first choice of developers creating smart contracts using EOS. The Co-Founder of EOS, Dan Larimer shares his belief that one-day blockchain might get a foothold in the banking sector. The founding company Block.one envisions EOS will find its way in various industries.

In a recent video published by EOS team, such as Daniel Larimer, Bart Wyatt and Brendan Blumer (CEO of Block.one) can be seen commenting on the future of EOS and its technology being accepted everywhere by everyone. But the recent account freezing orders sent to the EOS block producers has stirred negative sentiments throughout the cryptocurrency markets. As a decentralized blockchain-based project, EOS platform and its EOS constitution are being blamed for centralized operations. That’s the main reason why EOS individual price is approximate, $7.55 which is going south at the rate of -7.28% according to the data on CoinMarketCap at the time of writing. But according to the latest buzz, it seems as though Larimer is indicating an upcoming amendment in the EOS constitution which would put all rumors about EOS being centralized to rest once and for all.

The way things look may seem as though EOS will have a hard time before recovery but given its previous records and its plan to dethrone Ethereum we can say that once EOS markets start retracing its steps back, bullish signals would make investors recover most of their investment back in no time.

What does Litecoin have Up Its Sleeve?

Litecoin futures trading have given Litecoin markets new hope and vitality and it was launched on 22nd of this June. The cryptocurrency exchange named ‘crypto facility’ based in the United Kingdom has launched the Litecoin futures trading. With the help of this, investors will be able to hold long/short-term futures contracts with Litecoin on weekly, monthly, quarterly maturities basis. The Co-Founder of Litecoin, and a well-known crypto space influencer Satoshi, Charlie Lee has publicly expressed his consent as well as excitement on the launch of Litecoin futures trade on crypto facility exchange because according to him futures trading opportunity would make it easy for investors to enter and exit Litecoin while making the cryptocurrency available for institutional investors all around the world. Experts believe that Litecoin futures trading might actually improve Litecoin’s price transparency, liquidity, efficiency in the crypto markets.

The news coming from St. Louis also helped Litecoin markets take a breather from the present price slump. The Federal Reserve Bank of St. Louis has recently announced to add four largest cryptocurrencies of the world which are Bitcoin, Bitcoin Cash, Ethereum and Litecoin to its database. To cryptocurrency enthusiasts and investors, this came out as a great opportunity to make a strong position in the abovementioned cryptos. The database used by St. Louis bank is commonly known as FRED which stands for Federal Reserve Economic Data and it is going to be fed data regarding crypto prices from world’s one of the biggest and most influential crypto exchange ‘Coinbase’. The purpose of this would be to keep economic researchers aware of the price points, sentiments and other important data which causes crypto market’s movements.

Current Market Positions of Litecoin and EOS:

Even if the two widely famous crypto projects, EOS and Litecoin are currently giving red signals but the crypto slump and Bitcoin’s decreasing prices haven’t shaken their enormous market capital and reputation within their communities. Litecoin is currently being traded at $76.51 approximately while its market capital rests at $4.373 billion. Around $258 million worth of Litecoin has exchanged hands within the past 24 hours. Whereas in case of EOS, the total market capitalization has reached to $6.762 billion overtaking Litecoin, all thanks to its successful Mainnet release and dedicated community.

Conclusion:

There is no point in denying the fact that cryptocurrency markets are experiencing a harsh situation where Bitcoin can’t seem to make a recovery enabling altcoins to rise beyond expectations and surmounting lots of profits. But, it’s also a fact that there has been such Bitcoin price dip in the past as well, which was followed by a bull breakout and this is causing FOMO among investors. Nobody wants to lose this opportunity by not making their move when the prices of top 10 cryptos are low. Although, it remains to see how Litecoin and EOS start their countermeasures and proceed to grab the first spot once the market gets bullish.

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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.

Image courtesy of Alan Lam via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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