2018 has been a very dramatic period for blockchain and cryptocurrencies from the start. The crypto world has seen a nonstop slump in the price of Bitcoin and other altcoins, as most of the tokens traded below their ICO price, still there’s been no relent in the amount of money that was raised during this time.
Even with the institutional and political struggles that the cryptocurrency ecosystem faced, specifically paying attention to ICOs (Initial Coin Offerings), this steady rising trend raises curiosity.
Quality of ICOs As A Whole
LKI Consulting is a PR firm that has conducted few ICOs especially, in the last couple of months. The founder of LKI Consulting, Laura Kornelija Inamedinova believes that this ICO trend is linked to the upsurge in the quality of ICOs as a whole. Furthermore, Inamedinova explained how time has shown that these features are essential in order to have a successful ICO.
Even though the ICO market has rocketed and noted remarkable facts, still there is a number of projects that haven’t accomplished in attaining there “set out” goal, that makes them unsuccessful.
Why ICOs attract investors from outside the industry?
Founder of Cashaa, Kumar Gaurav believes that the industry must look ahead of the crowdfunding exercise which has been carried out by many projects at this time in terms of ICO. Gaurav’s company dismissed around $14 million of the $33 million that was raised in an ICO due to acquiescence reasons.
Gaurav identified a problem that ICOs attract investors from outside the industry who only take interest in their own profit and not in the technology. Similarly, there are plenty of beginners who are really interested; however, they just started to learn and might be frightened of the market’s volatility.
Gaurav identified another trend, that is the salvaging of investments inside the ecosystem which appears to expand the industry beyond its actual capability. He noted that most of the investors just try to sell older tokens and buy new ones.
Apparently, most of the ICO investors are just speculators for the short-term and this is something that makes it a little bit difficult for project developers and builders in executing their objectives, efficiently. It’s quite common these days to categorize an ICO as successful, depending just on the amount it raised through the crowdfunding process. To avoid being seen as a failure, companies began to set lower goals deliberately. Gaurav further explained that to find out what successful ICO is, we may also need to have a look at what will happen to the company after a year.
Within the past 24 hours, the price of most of the cryptocurrencies has declined significantly in the global market.
Ripple has once again dropped below the $49 billion region and has achieved a monthly low at $1.28. For many bitcoin investors, $10,000 mark was a psychological threshold, but the $1 mark of Ripple is also considered as a significant threshold that has led the price of Ripple to upsurge by 33-fold within few weeks. The market valuation of Ripple could possibly decrease further if the price of XRP or Ripple couldn’t withstand itself above $1. Also, Bitcoin struggles to maintain the gains that it recorded on January 25, although it has shown a 3% decrease in the price and is currently trading at $11,153.
Ripple has a huge following in the South Korean market and the extensive day by day exchanging volumes of XRP on UpBit and Bithumb, two of the country’s major cryptocurrency money exchanging platforms, it is almost impossible that the market valuation of Ripple would fall beneath $40 billion.
Currently, the market cap of Ripple is not as much as half of Ethereum’s. Also, it is not expected that the market cap of Ripple would fall below the current levels unless something unexpected happens within a short period of time.
Ethereum’s native cryptocurrency Ether (with EOS) has recorded the lowest losses from the major cryptocurrencies, demonstrating a minor 2% decrease in market valuation.
The tenth most important and valuable cryptocurrency in the market NEM has experienced a startling 16% decrease in its price. The unexpected drop in the value of NEM was said to be set off by a possible security breach which occurred on a leading Japanese cryptocurrency exchange, CoinCheck.
Local Japanese media released reports on January 26, that all Japanese yen withdrawal and cash outs have been disabled by CoinCheck due to suspicious transactions. Also, some unverified reports as well claimed that $500 million worth of NEM was withdrawn from CoinCheck and it’s still unclear whether it was a group of users or a hacker that stole NEM from the exchange.
The cryptocurrency community is eagerly predicting an official statement from CoinCheck, however, it has not been confirmed yet if the exchange was hacked or not.
An abrupt flow of $500 million from a Japanese cryptocurrency exchange could have caused the market to fall. Many investors have suggested that another reason could be the closing of bitcoin upcoming contracts on CME Group, and institutional investors selling huge amounts of bitcoin to deliberately bring down the currency’s price to cash out short contracts.
Shorting of bitcoin and whales selling the digital currency to cash out short contracts could have persuasively contributed to the decrease in the market cap of bitcoin, and because bitcoin is considered as the reserve currency of the market, it looks clear that the rest of the cryptocurrency market fell with it as well.
US-based residents are looking for tax returns and South Korean investors are anticipating the January 31 cryptocurrency exchange recommencement date; the global cryptocurrency market would probably improve instantly within the month February.
Bitcoin’s record-breaking rally has enchanted markets. Companies raised millions in minutes or even in seconds, means investors are desperate to adopt the new digital technology startup. At the start of this month, Mozilla’s co-founder Brendan Eich earn $35 million of attention token within 30 seconds. Whereas, its unit of exchange is the company’s brave browser.
This year, digital token’s price is more than double. While the companies continually using this technology by selling Bitcoin and invest them in different projects, instead of resorting traditional method of finance.
These token’s development is at the early stage. In addition, TaaS sell the coin, double in price in five weeks.
Coins have risen over 100 percent. While, when they start trading, there was 13 percent on average offering to U.S this year. The chairman of the wall street blockchain alliance Ron Quaranta says that coin irresistible demand. In addition, a huge part of it is involving in the conjecture. Whereas, traders are trying to make money in a short time period. Luckily, essential drivers are also here, this is an expectation that digital market is getting mature.
Coin’s startup bypass
Storj labs Inc. raise $30 million in the early round of financing by selling coins at 50 cents a piece. Within few days, a large number of people get to sign up for the sake of a piece. Unfortunately, there is a clasp, like traditional investment, token don’t consult an entitlement on Storj’s future.
Moreover, token’s value is calculated by providing the direct approach to data on the distributed ledger. Basically, this is the new ledger of the digital currencies, where coins unlock endless apps in the digital world. Whereas, the coin is tradeable on a large number of online exchanges. And, demand for these coins is continually growing.
According to the research of the Crown and Smith, forty-four coins have been issued. Whereas, a token issued by the Edgeless on 30th March, get 500 percent jump, a huge gain ever. Accordingly, acceptance of the blockchain technology is increasing with the passage of time as more bitcoin discussions take place.
President of the Kingsbridge wealth management David Dunn was the first person who introduces bitcoin concept in companies in 2014 and made his investment in blockchain linked companies. David adds, “I’d rather invest in the companies using the technology themselves. The speculators might end up being right, and this becomes a solid investment because of the power of the technology, but we’re not at that stage.”
Tags: bitcoin price prediction, bitcoin speculation
A question that is asked by everybody is “Where can I get free bitcoins from?” The answer is free bitcoin faucet. It obviously won’t make you rich overnight, but it’ still free!
As the name suggests, Bitcoin faucets are like taps with dripping bitcoins, instead of water. Just like a drop of water takes time to accumulate before dripping from the faucet, users have to wait a certain time limit before they could collect their coins.
What are Bitcoin faucets?
Bitcoin faucets are reward systems that are programmed to distribute small fractions of bitcoins for visitors to claim. There is a time interval that a visitor must wait between every batch of bitcoins released.
Purpose of Bitcoin faucets
- To introduce users to bitcoin: Faucets are a great way to introduce new people to the bitcoin network. Most faucets provide information to users and giving them a practical experience on how they can earn bitcoins is a beneficial way to promote digital currency and attract new users.
- To achieve maximum traffic: It is not that difficult to get traffic on websites that give out free money, faucets are usually high traffic websites.
- To make money: Adding additional content to the website, or including some unique attraction for users is the only way to generate an income for a Bitcoin faucet. There are many of these sites around nowadays so it’s a very competitive market.
Why Bitcoin Faucets?
There are rewards placed to attract visitors to the faucet’s webpage. These sites usually contain advertisements and advertisers pay these faucet owners to display their ads on the websites. Advertising costs are calculated on Cost per Thousand Impression (CPM) basis. Which means if the site gets more visitors and they spend a long time on the site, then the owner gets more money from the ads.
Faucets also play an important role in the bitcoin ecosystem. It encourages more people to understand and adopt bitcoin.
How to use bitcoin faucets?
Once you’re on the faucet webpage, you just need to enter your wallet address or the email address linked with your Xapo wallet.
A timer will start to measure the time you spend on the site. Each ad is viewable after a certain period of time. The interval is usually of 30 minutes.
In order to claim your reward, you’d have to solve a mathematical question or prove that you’re a human by filling in a Captcha, and that’s it!
Typically, faucets have a minimum time interval between claims by each visitor in order to prevent one from claiming all the available bitcoins from faucet’s wallet.
This duration varies from 5 minutes to 24 hours, depending upon the faucet.
Here are a few best Bitcoin faucets for you to explore from:
- Moon Bitcoin
- Bitcoin Aliens
You can visit and explore these sites. It might be worth your while to study and recognize the techniques they use in order to make money from their faucets.
You will find hundreds of bitcoin faucets to choose from, go ahead, explore and earn a few satoshis while you’re at it. (1 Satoshi = 0.00000001 BTC)