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Altcoins to Watch Out for in June

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May has been a rough month for just about every altcoin out there; however, a few have managed to buck the trend and hold strong in the face of the market downturn.

Such market behaviour may spell a strong month to come for those altcoins, so let’s take a look at some of the strongest prospects for a good run in June.

Theta Token (THETA)

Theta Token (THETA) had a strong month, rising steadily from its $0.13 starting price on May 1st and defying market trends along the way.

The same growth that propelled it through May has continued over the last few days, and Theta is looking like one to look out for as we roll into June.

One THETA token reached a recent peak of $0.29 on May 31st, and while that number is now back down to $0.26, the general trend continues to nudge upwards.

Theta recently benefited from a listing on the Binance exchange which has accounted for over 50% of its trades in the last 24 hours.

THETA/BTC trading pairs make up the most popular market by a large margin, making up 49.23% of all trade activity. The THETA/ETH trading pair is looking relatively quiet, accounting for only 6.10% of the trade volume.

Meanwhile over on Huobi, THETA/USDT trades account for the second highest trade volume, making up 17.69% of the entire THETA market.

Theta might dip back down to the low twenties over the coming weeks – maybe even several times – but don’t be too surprised if its upwards trajectory since April continues well into June. A near 200% rise since April 11th is not to be sniffed at.

All Sports (SOC)

The sports prediction platform, which is still a long way from completion, showed exponential growth between April and May, with SOC tokens rising from $0.02 per unit to $0.30 – a 1400% spike within the space of a few weeks.

The momentum soon cooled and SOC fell to $0.11 on May 24th. But now, just over a week later, All Sports is back on the up with a 50% increase in value and is trading at $0.18.

All Sports has shown steady growth since early April, and excepting the global market dip on May 24th-25th, shows a consistent, but still volatile, upwards trend.

The sports betting industry is worth untold billions per year, and that’s the market that All Sports are looking to take over via blockchain technology. In Europe, sports’ betting has been legal for a long time, whereas American officials are only just starting to come round to the idea.

All Sports can boast of an official endorsement and/or partnership with Chelsea Football Club superstar Eden Hazard – one of the most sought after players in world football. The UK gambling industry rakes in $17.5 billion a year from its ‘customers’, and All Sports are clearly targeting the right market with their English football associations.

Golem (GNT)

At the time of writing, Golem has just started to dip back down, but that is consistent with its performance over the last few days, where it has hovered between $0.59 – $0.61.

However, that represents a full 15% growth since May 29th, and while it’s still some distance from the May 3rd peak of $0.88, it still shows that Golem is going in the right direction.

No doubt the recent Golem mainnet launch on Ethereum had something to do with its recent spurt in value, as did its listings on Binance and Bithum in April.

Golem was one of the first crypto projects to attempt to pool together the world’s computing power via the blockchain. The platform acts as a renting space for idle computing resources and has been tipped as a possible solution for the high resource demands of processes like machine learning.

Scry.info (DDD)

Scry.info jumped 25% over the last few days – going from $0.30 on May 29th, to $0.40 by June 2nd. This is closing in on the DDD token’s May 4th peak of $0.45.

Very few coins have recovered to their early-May levels so quickly, and scry.info has recorded an overall growth of over 300% since the beginning of April, making it a strong contender for a good run in June.

The project is aimed at the data exchange industry, and provides tools for the implementation of blockchain data trading for businesses and individuals alike.

The bulk of Scry.info’s recent trades have come from the China-based LBank exchange, with DDD/ETH trades making up 61% of trades in the last twenty-four hours.

Scry.info jumped several places to 117th in market cap rankings following its recent performance, and has been on the up for a while now.

Authorship (ATS)

Authorship (ATS) is a little known publishing platform that allows the disparate professions of the literary publishing industry to meet under the same roof. Authors can upload their finished books directly to the Authorship platform, where it can then be browsed by a network of publishers.

Perhaps it’s this unique function which has pushed Authorship’s market value up by over 380% since May 30th. During this time ATS tokens jumped from $0.005 to $0.024, and at the time of writing is up 65% in the last 24 hours.

While a market cap ranking of 762nd tells its own tale, Authorship has already climbed hundreds of ranks in the past few days, and may well continue into next month.

Wildcards

The Wink (WINK) coin is currently ranked at 1459th position in market cap charts, but has shown a 500% growth within the last week alone. A quick glance at its charts show a volatile recent history and it still doesn’t have a verified market cap, so it’s not without its risks.

WhaleCoin (WHL) enjoyed at 900% boost between May 29th and June 1st, with a 900% growth pushing WHL coins from $0.018 to $0.18. The unit price dropped back down to $0.07 by June 1st, but that’s still a near 300% increase since the end of the May.

Tron (TRX) was dealt a worse blow than most other coins in May’s bear market, but Tron’s market movements in recent months point to a token with a lot of growth potential – in April, TRX tokens rose from $0.04 to $0.09 within the space of two weeks.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 103 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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MobileGo (MGO) Is Up More Than 40% Since Thanksgiving

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The last few weeks have been an extremely challenging time for crypto enthusiasts.  Major coins like Bitcoin (BTC) and Ethereum (ETH) have been demolished while many smaller alternative coins have done even worse.  Fortunately, there are still a few bright spots left in the market that traders may want to turn their attention toward.  One of those bright spots is MobileGo (MGO).

Price Surge

Although most cryptos have taken a severe beating in the past few weeks, MGO has done just the opposite.  As seen in the chart below, MGO has soared by more than 40% since Thanksgiving.

A few of the reasons for the surge include being in an industry with rising popularity, innovative methods of earning gaming currency, and key strategic partnerships.

Exploding Popularity of the Gaming Industry

Despite the volatility in the cryptocurrency markets, blockchain remains one of the most exciting technologies being developed.  Blockchain has the potential to disrupt global industries and take them to levels once thought impossible.  MobileGo is attempting to do just that in the gaming industry.

The Gaming market is an extremely exciting opportunity as the industry is growing by leaps and bounds.  According to Market Researcher, Newzoo, the global games market is expected to grow from $137.9 billion in 2018 to more than $180.1 billion in 2021.

GShare Development

One of the company’s main innovations is the development of GShare.  GShare is a special tool which allows its users to earn GShare Gold coins by harnessing the power of their computers.  In this way, it’s very similar to cryptocurrency mining.  These coins (not cryptocurrency) are a soft currency which will be earned as soon as the user runs the app and presses the “start” button.  Users can play their favorite games, work, or simply browse the internet.

Additionally, gamers can also earn GShare Gold Coins by entering tournaments.  There is a wide variety of tournament options so that players can choose tournaments that fit their interests and skill levels.  In this way, it’s really an open environment that caters to individuals of all backgrounds.

Once the coins are earned, users will have several different redemption options that include the following:

  • Tournament Entry Fees
  • Social Activity Platforms

The option to use the coins through social media avenues is extremely interesting.  This presents an opportunity for the coins to gain international recognition by uniting different groups of people for positive results.  These social activity opportunities should become clearer soon.

Xsolla Partnership

MGO coins can be earned through special promotions, exchange trading, or by winning tournaments.  The last one is especially important as it’s directly related to GShare.  Users can use their GShare Gold coins to enter tournaments that fit their skill level.  And, if successful, users will earn MGO coins by performing well.

Being able to earn MGO coins by winning tournaments is very exciting considering the recent partnership news with Xsolla.  Xsolla provides game developers with a comprehensive suite of flexible tools and service to help launch, monetize and scale their games globally.  In late October, Xsolla announced that it would start accepting made-for-gaming cryptocurrency, MobileGo, for its PC and mobile games partners.

The partnership means that developers will be able to receive royalty payouts in MGO cryptocurrency.  As stated earlier, the gaming industry is expected to grow significantly in the future which makes this a very compelling opportunity.  As blockchain technology and gaming continue to grow in the future, it’s safe to assume that more and more game developers will be interested in cashing out via cryptocurrency.  MGO being an option this early in the game is a massive advantage.

Conclusion

Although it’s still early for MobileGo, the company appears to be making all the right moves in an effort to attain blockchain gaming dominance.  Only the future will tell whether the company will prove successful, but things certainly appear promising at the moment.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Litecoin Price Analysis: If Current Demand Zone Fails to Hold Then Next Stop is $3

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  • LTC/USD is at serious danger of another hard fall should the range-block seen be breached.
  • Back in December 2013, the price was at current levels and fell down to $1 over a two-year period.

Litecoin has been heavily weighted to the downside of late. The selling pressure intensified through the month of November. This month, December, has seen the pace of that bearish trend intensify. As a result, LTC/USD is trading at its lowest levels seen since May 2017. These moves of course are very much in-line with the rest of the market that has been in decline since the back-end of 2017 – start of 2018. Litecoin is down well over 90% from the start of this decline.

Deadly Range-Block

LTC/USD 4-hour chart

LTC/USD was allowed some time to breath after the chunky pressure south, through November. The price stabilized from 25th November, to then move into range-trading. This was the case right up until 6th December. Confined within a range-block, which technically trend to occur after such excessive movement, to then be resumed in that original aggressive trend of direction. The most recent, moving between a low of $29 to a high of $36, ahead of the firm breach lower on 6th December. This resulted in the price moving down to another fresh low of $22.55, on 7th December.

Once again, a similar observation can be seen via the 4-hour chart view. Since the 7th December, some stabilization has materialized. Currently it is shaping up another range-block, which is subject to a further extensive move to the downside. The low within this new formation, can be seen around the $23 mark; to the upside, this is capped at $28. A breakout south from this block could catastrophic and much more damaging than the prior. There isn’t much in the way of support for quite some way lower, should the price not be able to defy the odds and break higher from the block.

Downside Targets

LTC/USD weekly chart

Should the bears maintain the current course of downside, then the lower support of the current range will be broken. As an extreme target south, eyes could be on a complete reversal of the 2017 bull run. This could see another 500% drop, this of course being a worse case scenario for LTC/USD. Given how fast the bulls ran up to the north, it can come back down just as hard. Back in December 2013, the price was around current levels within the $20 territory. The bears pushed for a hard fall of over 200%, down to $1 territory, over a two year period.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 78 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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XRP Price Analysis: XRP/USD Behavior Suggests of One More Deep Pullback

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  • XRP/USD price action is moving within a range-block, subject to an extended move lower.
  • American Express are singing praises above the speed of Ripple’s technology.

XRP/USD price has stabilized, after the renewed chunky wave of selling pressure that hit the market. The price last week was forced to drop a whopping 30%. This came following a period of consolidation, which commenced on 25th November. XRP had managed to gain some firmer footing, after the brutal November selling. However, from a technical observation, the price entered into a range-block, which was subject to an extended move lower. Over the past three days, similar behaviors are noted, which expresses vulnerabilities.

American Express Praises the Speed of Ripple’s Technology

Back in November 2017, news hit the wires of a partnership between American Express, Ripple, and Santander Bank. Earlier this year, an official confirmation of partnership between Ripple and American Express was announced. This includes Santander Bank, and promises a solution which will offer fast speed and lower cost cross-border transactions. American Express had detailed using Ripple’s xCurrent technology to facilitate payments.

The general manager of American Express’ corporate payments, Carlos Carreido, was recently speaking at a conference called the Wings of Change Europe, which was held in Madrid. He detailed the incredible capabilities with the use of Ripple’s blockchain technology. As a result, the performance making a large difference for them, in payment processing globally.

Carlos Carreido said, “Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab, based on blockchain technology, just to understand how to leverage this better. We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”

Technical Analysis: XRP/USD

XRP/USD 4-hour chart

Since the 7th December, XRP/USD has once again found firmer footing. The price managed to bounce most recently within the $0.29 territory. Danger to the downside is still very much at large. Similar behaviors that were seen between 25th November to 5th December, are being observed. This was a period of consolidation ahead of another deep fall. XRP/USD is moving within a range-block. The upper part of this seen at $0.3300, and current downside capped around the $0.2950 area.

Downside Targets

XRP/USD daily chart

Keeping the above in mind, XRP/USD could be set for another drop lower. This would fall in line with the previous article via Hacked. One more deep move lower, before the big bull buying comes into play. The price is already in proximity to this demand area but could be forced further towards the $0.2500-$0.2000 range. As previously mentioned, historically this is the area that sees bulls come in by quite some force.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 78 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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