The new year has started positively for a lot of cryptocurrencies, including the top 10 coins, many of which have seen a noteworthy increase in price during the last several days. After an extremely bearish 2018, many in the crypto world have been looking forward to a bit of positive development, even going as far as to expect a full-scale bull run.
While this is definitely not what is happening right now, some of the highest-ranking coins have been expressing a subtle desire to grow once more.
Ethereum showing signs of growth
Ethereum (ETH) is one of the best examples of this, as the coin experienced a mild grow during the first week of 2019. Despite a few minor drops in the last eight days, ETH has mostly been growing. Its price climbed up by around $25 in the previous week, which some analysts took as proof that the coin is ready to grow once again.
As all other cryptocurrencies, Ethereum is also heavily influenced by Bitcoin, and BTC still dominates the market with more than a half of the crypto market’s total market cap. At the time of writing, the market, including Ethereum, is once again experiencing minor drops. However, since nothing critical has happened in the crypto world recently, this might just be the market’s natural attempt at finding stability.
However, things are about to get interesting for Ethereum, as the coin is scheduled to have as many as three hard forks in the next few days. The forks will come as a consequence of new updates, one of which is expected to bring new changes to the way ETH network operates, and tackle the blockchain’s scalability issues.
Considering the fact that the BCH November hard fork is still very fresh in investors’ memories, a lot of them are waiting to see what potential consequences might emerge from Ethereum forks. Furthermore, analysts have noted that a drop in price is not unusual after similar events, especially if new coins emerge from the split.
Whether or not these predictions will come true remains to be seen. Even so, many remain optimistic regarding the forks, stating that ETH network will likely emerge strengthened.
At the time of writing, the Ethereum price is at $150, after experiencing a 4.14% drop in the last 24 hours. However, as mentioned, this might be only the next one in a series of minor drops that arrive after a small price boosts that ETH has been experiencing in 2019. The coin is still the second largest one in terms of market cap, after taking over its position from XRP, which managed to hold on to it for over a month and a half.
Ethereum’s trading volume in the last 24 hours is still quite high, being at around $2.4 billion. In comparison, Bitcoin’s trading volume is at $4.94 billion.
It is still unclear where the coin will go from here, and how it is going to behave after the hard forks are performed. However, significant changes are expected to arrive at Ethereum’s ecosystem in the following week, and ETH investors will likely keep a close eye on the project during that time.
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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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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
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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…