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Will KIN’s Market Cap Return to $1 Billion in 2018?

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KIN
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Have you heard of Kik Interactive Inc? A little research will tell you that the social networking platform boasts more than 15 million active users today. Kin, one of the popular altcoins on the crypto market, is a foster child of the Canadian firm.

Kin, the Foster Child of Kik Interactive Inc

Kik Interactive Inc, which has been receiving venture funds from eminent institutions like Tencent, introduced the Kin cryptocurrency to put an end to venture-related funding issues, reported the sources. Just like any other major cryptocurrency, Kin’s performance has been quite impressive.

As evident from the official website of KIN, the altcoin was developed to draw people from various sections to a shared economy, connecting them to the community. When the coin was first conceived, it was looked upon as an incentive for Kik account holders. In fact, KIN tokens have been deployed to provide rewards to the Kik users.

What sets it apart from its peers is the fact that the monetary value can be used to purchase real-life merchandises. Came into the market in September 2017, the altcoin is nourished by a robust community and the company’s stable valuation. With a user base constituting over 15 million users, Kin can overtake the Ethereum network if only 10 percent of Kik account holders use the coin.

Should You Watch Out for Kin (KIN)?

Among the new cryptocurrencies introduced in 2017, Kin has earned special recognition in the crypto community. At the time of introduction, the price of Kin was $0.0001 and its market cap was around $70 million. Unlike other currencies like Litecoin and Bitcoin which have set records in 2017, the performance of Kin was rather flat for the most part of the year, but it is hardly surprising as it is fairly new to the cryptomarket. Things started to change, however, when on December 19, 2017, the price of kin touched an all-time high of $1 billion.

When it comes to the performance of Kin in 2018, it is doing a great job. KIN coin, which was traded at 6.8 percent against the dollar till March 8, has traded at 21 percent over the last week. The KIN tokens are not only available for $0.0002 or 0.00000002 BTC all the important exchanges, which include Bancor Network, CoinFalcon, Mercatox, and COSS. With a market cap of $140,866,268USD at the time of writing, it is likely to continue doing a good job.

Will Kin Cross $1 Billion in 2018?

Although Kin is not listed on major exchanges, it has the support of a stable customer-base constituting 15 million Kik users. In addition, the total supply of KIN tokens can throw others out of the competition. As of 16.03.2018, the total supply of kin stands at 10,000,000,000,000 KIN. Unlike other major coins like Bitcoin, which allow users to buy a fraction of a whole coin or token, kin allows users to buy multiple coins at a lower rate. Although it is very new to the crypto market and its price is extremely volatile, it can be highly profitable if traded strategically. As most crypto critics fear, just because it has a stable customer base it does not mean it will work well with the investors. But you can never tell, for the year has just begun and a lot can happen in the coming months. On the onset of the catastrophic drop in the value of Bitcoin, it is not difficult to imagine that 2018 will be a big year for altcoins like Kin, the market cap returning to its all-time high of $1 billion.

We will be updating our subscribers as soon as we know more. For the latest on KIN, sign up below!

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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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