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Dentacoin: Bitcoin for Teeth Rises 270%

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If the first week of January is any indication, 2018 is shaping up to the year of the altcoins. Case in point: Dentacoin (DCN). The blockchain that calls itself the ‘future of dentistry’ shot up 270% in the span of 9 hours to crack the top 30 list for active cryptocurrencies.

DCN Makes Its Mark

Dentacoin surged to new highs on Sunday, and in the process became a multi-billion-dollar cryptocurrency. The coin, whcih is tracked by the ticker symbol DCN, peaked at $0.008267 at 18:59 UTC, according to CoinMarketCap. That gave Dentacoin a market cap of nearly $2.7 billion.

At last check, the coin was trading at $0.006415, a gain of 180%. The market cap was around $2.1 billion, enough for 28th on the active list of cryptos.

Dentacoin’s trade volumes surpassed $43 million on Sunday, with Europe’s HitBTC accounting for nearly 90% of total transactions.

Sunday wasn’t the first time the DCN token surged in value. It rose more than 90% in mid-December amid a broad upsurge in the cryptocurrency market.

What Investors Need to Know About Dentacoin

Commonly referred to as the dental cryptocurrency, the DCN token aims to make dental care more affordable through crowdfunding. The company raised $2.1 million through a publicly-funded initial coin offering that ran between Oct. 1 and Nov. 1. The ERC-20 compliant token has been developed to be used globally by individuals in need of dental services.

The project claims it will solve specific problems facing the dental industry, including a review platform, blockchain insurance program and healthcare database.

There was no immediate catalyst for the recent price gain, signaling once again that the token was benefiting from altcoin euphoria. That being said, the company has been slowly acquiring partners since the launching of the ICO in early October. This includes signing an agreement with CruisAIDer, a German-based orthodontic manufacturer. As of October, the company was accepting DCN tokens as a form of payment.

Last month, the project announced that a fourth dental clinic would start accepting DCN. The four clinics accepting Dentacoin now include F3T Dental Clinic (U.K.), Swiss Dentaprime (Bulgaria), Dentech Dental Care (India) and Mr Iteeth (Taiwan) were accepting the digital currency.

Dentacoin has a total supply of 8 trillion tokens, with more than 321 billion circulating in supply. The company offered only 3% of its total token amount during its ICO.

Hacked.com gave an independent review of the Dentacoin ICO ahead of the crowdraise.

The company has announced several milestones for 2018, including launching its cornerstone ‘Dental Asurance’ program, an insurance-like model for the blockchain. The project is also planning to launch a second token sale in October.

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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4.6 stars on average, based on 691 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Altcoins

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 77 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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EOS Price Recovers 22% From Recent Lows; EOS/USDT Trades Dominate

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EOS (EOS) turned the tide on recent losses on Sunday, and gained 22.8% on its value amid a generally green day for the crypto market.

EOS had fallen to a series of new yearly lows in previous weeks, falling as low as $1.56 on Friday, Dec 7th – a thirteen month low. That was the trigger for USDT traders to jump back in, and the surge in the two days since then carried the coin to 34% gains.

EOS Price – USDT Trades Dominate

Over 46% of EOS trades came against USDT on Sunday, perhaps highlighting a readiness to exploit EOS’s current lows in the short-term game.

From Sunday morning’s starting price of $1.71, EOS climbed 22.8% in value throughout the day, peaking at $2.14 by the evening. The surge was made while the overall trade volume for the broader market was in decline – a good sign in a bull market, but an ominous one in more bearish times.

That puts EOS on 34.6% gains over the weekend, although a fallback to the $2.05 range by time of writing, and a sudden downturn by the general market, suggests the volatility for the coin is not over yet.

Average trade volumes for EOS have been much higher in November and December than they were in the August-October period – a trend which has been seen generally across the board. Whether that represents new money coming in, or simply increased activity by desperate hands, is up for debate.

EOS News

EOS was one of the top performers on Sunday, and despite being picked up for bargain prices, it may also be feeling the boon of recent noises coming out of Coinbase.

The exchange announced on Friday that EOS would be one of thirty-one coins and tokens up for consideration for a listing on the platform – a number that was chiselled down to twenty-seven following the listings of the four ERC-20 tokens, Loom Network (LOOM), Civic (CVC), districtOx (DNT) and Decentraland (MANA).

The weekend’s move bucks the trend for a coin which had its investors’ confidence shaken at the start of the month. CTO of the EOS project, Dan Larimer, triggered a round of confusion among coin holders when he announced plans to embark upon a new blockchain project – one which was feared would draw time and resources away from EOS.

The loss of value for the reigning king of the ICO was so out of sync with the rest of the market that at one point there was a 55% price swing between EOS, and one of the other blockchains aiming to become the ‘Ethereum killer’, TRON (TRX).

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 102 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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Sunday’s Top Performers: DEX, aelf, EOS, MaidSafeCoin, Bytom

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About a dozen cryptocurrencies reported double-digit gains on Sunday in the wake of another steep selloff that drove coin values to their lowest in over a year. The crypto market as a whole is down nearly $100 billion from month-ago levels, leaving little doubt as to the direction of the underlying trend.

Below is a brief rundown of the day’s top performers, as per CoinMarketCap. It remains to be seen whether the latest rally attempt is merely a dead cat bounce or the beginning of a more sustained recovery from oversold levels.

DEX

In terms of top gainers, no other coin outperformed InstantDEX (DEX) on Sunday. The coin’s value has whipsawed over the past two days, and is currently riding an 87% gain over the past 24 hours. At last check, it was valued just over $0.02 on trade volumes of less than $30,000.

InstantDEX is a decentralized exchange that claims to offer “near real-time trading between cryptocurrencies.” The coin is ranked 95th by market cap but doesn’t have much of a web presence. Its spot market is dominated by Coinbit.

aelf

Aelf (ELF) is another relatively low-ranked cryptocurrency to outperform the market on Sunday. ELF coin has gained 18.3% over the past 24 hours to reach $0.1244. The coin is available on some of the world’s top exchanges, including Bithumb, Binance, Huobi and Upbit. Daily trade volumes exceeded $6.3 million on Sunday.

Aelf is a decentralized blockchain network powered by the cloud. It operates full nodes on cloud servers and prioritizes resource segregation, which means each smart contract is run on a separate blockchain.

EOS

After falling all the way to no. 8 in the market cap rankings, EOS rebounded sharply on Sunday to retake the no. 7 spot away from bitcoin SV. With a market cap of $1.87 billion, EOS is trailing Tether by less than $15 million and bitcoin cash by roughly $70 million.

EOS gained 17.8% on Sunday to reach $2.07. The project nursed heavy losses during the past week even as Coinbase announced it had short-listed EOS for future consideration. EOS certainly hasn’t been immune from the crypto downtrend, having lost a staggering 72% peak-to-trough over the last month.

MaidSafeCoin

The 55th ranked MaidSafeCoin (MAID) jumped 17.1% on Sunday to $0.01601, which helped to offset last week’s slump. MAID is one of a small handful of coins to register gains over the past week. By comparison, non-stablecoin in the top-20 lost between 4% and 36%.

MAID is the decentralized currency for the Safecoin network, which seeks to provide a sharing economy for digital resources like disk space, processing power and connectivity. According to the official website, the project originated prior to the blockchain revolution.

Bytom

The price of Bytom (BTM), a Chinese tokenization project, climbed 14% to $0.07614 on Sunday. The project ranks 52nd by market cap with a total value of $76.4 million and daily trade volumes of around $2.5 million.

At this time last month, the BTM token was trading near $0.0200. The coin has lost 60% over that stretch.

Unlike many of the projects established in 2017, Bytom has a clear and ambitious roadmap, which includes major ecosystem and business milestones in the new year. As the website states, the Bytom chain can host “any peer-to-peer financial applications and asset applications,” including institutions and individuals.

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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4.6 stars on average, based on 691 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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