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.
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.
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 Alan Lam via Flickr
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…