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SuperiorCoin Analysis

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Are we dealing with arrogant developers, or a good project? That’s what we’ll have to investigate with SuperiorCoin. There are a lot of coins out there, and for one to claim superiority is obviously a boost to be looked at with careful speculation – what exactly are you trying to say, now?

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The reserve currency of choice for ideas, services and collaboration.

Any currency could claim this, depending on the situation. What makes this coin special?

Superior Coin is a secure, private, untraceable currency. Unlike many crypto currencies that are derivatives of Bitcoin, Superior Coin is based on the CryptoNote protocol and possesses significant algorithmic differences relating to blockchain obfuscation. Superior Coins main emission curve will have issued about 1.5 billion coins to be mined in over 30+ years. Superior Coin protects privacy in three ways for all transactions on the network: 1 ring signatures hide the sending address, 2 RingCT hides the amount of the transaction, and 3 stealth addresses hide the receiving address of the transaction.

So it’s based on the CryptoNote protocol, which is best demonstrated by Monero and Bytecoin. This is not a bad thing – both of these are valid coin efforts, and Monero in particular holds a high value. Nevertheless, simply having stealth addresses and all this does nothing to prove why you’re “reserve currency of choice for ideas” et cetera. There’s no justification for that claim at all going on here – it’s just a projection of your own ego, it would seem, because already we see that this coin is not superior to, at least to Monero or Bytecoin, or any other Cryptonote coin for that matter, and whether or not one believes those are competitive with Bitcoin is a personal opinion.

In any case, we’re running into a question:

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Superior How?

What is the fundamental offering here? Another CryptoNote coin with a cocky name. That’s not much of an offering. There has to be something worthwhile going on here. Or are the designers simply trying to score a buck in all the new buzz surrounding cryptocurrencies? One can hardly blame them, and it happens every day, but nonetheless, it has to be considered a possibility when there are no real, differentiating offerings here.

Value Proposition

It would seem the value proposition of SuperiorCoin will be similar to other CryptoNote coins. Monero has values as high as $50 and often higher, whereas Bytecoin holds a small value in Satoshi, making it a coin that you can hold a lot of and gain that way. If SuperiorCoin is added to the MinerGate platform, where most CryptoNote coins, as well as Ethereum, are mined, then you can see it gaining a slightly wider adoption – probably being added to the Changelly platform after that. All of these moves would be definite upgrades in the chances of this coin’s success.

The Verdict

Given everything that is known, it doesn’t look great, but it doesn’t look terrible either.

Risk

The risk involved with a new coin like this is that the founders simply continue to dump on everyone, depressing the price. Such a risk is real and worth a full 2.5 points.

Growth Potential

The growth of a new cryptocurrency is unknown. If the above-outlined steps are taken, and there is liquidity as well as a good jury of miners, then we can safely add 4 points for growth potential.

CryptoNote coins are gaining adoption because newcomers to the market don’t understand how to get into complicated mining schemes, but they can figure out how to press a button that says “start mining.” As such, people are looking to MinerGate as a solution for mining, and they are mostly exposed to CryptoNote coins through this interface. If SuperiorCoin were added, its adoption would follow a similar track to the rest of the Bytecoin forks. We add 2 points for this.

This gives us an outcome rating of 3.5 of 10. 

Superiorcoin Investment Details

To invest in SuperiorCoin, you can either mine it following a guide or you can buy it through the website. Mining it will probably actually yield coins, even with a CPU, so it’s worth looking into. If it’s added to MinerGate, its mining difficulty will probably increase, but so too will ultimately the value of the coins.

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Analysis

Cryptocurrency Analysis: Ripple Continues Rampage as Litecoin and Ethereum Enter Correction

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Ripple remained in the center of attention in the segment after breaking out to a new all-time high yesterday, and the coin almost doubled in value, climbing above the $0.80 level. The currency concluded a 6-month long consolidation pattern with the move after being the only major on a long-term buy signal in our trend model.

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XRP gave a short-term sell signal today, while turning neutral regarding the long-term setup. Investors now shouldn’t add to their positions, although further gains are still possible, and reducing holdings somewhat is a good idea here. Major support is still found at the prior high near $0.4250 and in the $0.30-$0.32 range.

XRP/USDT, 4-Hour Chart Analysis

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While Bitcoin stagnated, and Bitcoin Cash jumped, Ethereum, Litecoin, Dash, and IOTA has been drifting slightly lower, although the recent gains are still mostly intact, and the basic setup in the segment is unchanged.

Litecoin fell below the $300 level after yesterday’s consolidation, and the coin faced strong selling pressure in the latter half of the session. The currency remains extremely stretched regarding the long-term momentum indicators, and although the short-term uptrend is still intact, a deeper correction is likely in the coming weeks, with key support levels found at $125 and $100, and weaker levels at $260 and $170.

LTC/USD, 4-Hour Chart Analysis

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Analysis

Daily Analysis: Dollar Falls, Gold Jumps after Yellen’s Final Move

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Wednesday Market Recap

Asset Current Value Daily Change
S&P 500 2668 -0.02%
DAX 13125 -0.45%
WTI Crude Oil 56.65 -0.68%
GOLD 1258.00 1.35%
Bitcoin 16,100 -6.32%
EUR/USD 1.1842 0.73%

The Federal Reserve hiked interest rates as expected today, and although the central bank’s monetary statement was slightly more hawkish than expected, the market’s reaction didn’t reflect the much-anticipated move. The worse than expected Core CPI reading that underlined the low-inflation narrative weighed on the recently strong Greenback, while stocks were unchanged after decision and bonds gained ground as yields retreated.

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EUR/USD, 4-Hour Chart Analysis

The major indices are hovering near their all-time highs with the DOW leading the way higher, hitting a new record for the second day in a row. While volatility Is expected to remain low as we approach the end of the year, market internals and valuation levels are still concerning from a long-term perspective, and stocks outside the US are also negatively diverging. The action in crude oil could be slightly more interesting as the commodity is starting to act in a slightly bearish manner after a grinding multi-month rally.

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WTI Crude Oil, 4-Hour Chart Analysis

The Brexit process is still in the center of attention in Europe, although volatility took a nosedive on the old continent as well, and it’s unlikely that the Christmas period will be much different, given the predictable drop in volumes and trading activity. The date of the next election in the financially and politically troubled Italy has been set to March 4th next year, and the early date caused some turmoil in the countries assets, which dragged the Euro Stoxx 50 lower today, together with the DAX and the other major indices.

Cryptocurrencies

As the total market cap of the crypto-market crossed the incredible $500 billion mark, Ripple, NEO, and Ethereum made headlines with lofty gains in the face of the severely overbought readings elsewhere in the segment. While XRP and NEO are still not overbought from an investment perspective, Ethereum reached our final target for its break-out and triggered a long-term sell signal.

ETH/USD, 4-Hour Chart Analysis

The previously surging IOTA continued its correction, Litecoin consolidated in a relatively narrow range, while Dash, ETC, and Monero scored marginal new highs before turning lower together with BTC. The most valuable coin that has lost some of its momentum “mojo” in recent days fell back below last week’s highs, and that could mark a failed break-out and a start of the deeper correction that seems more and more likely.

BTC/USD, 4-Hour Chart Analysis

Key Economic Releases on Wednesday

Time, CET Country Release Actual Expected Previous
11:30 UK Average Earnings 2.5% 2.5% 2.3%
11:30 UK Claimant Count Change 5,900 3,300 6,500
11:30 UK Unemployment Rate 4.3% 4.2% 4.35
15:30 US Core CPI 0.1% 0.2% 0.2%
15:30 US Crude Oil Inventories -5.1 mill -3.6 mill -5.6 mill
21:00 US Fed Rate Decision 1.5% 1.5% 1.25%
21:00 US FOMC Statement

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Analysis

Technical Analysis: Volatility on the Rise Again, as Ripple and Ethereum Hit Targets

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Ripple has been the star of today’s session in the cryptocurrency segment, as the only major coin on a long-term buy signal in our trend model continued yesterday’s break-out, and surged to a new all-time high. The currency cleared the $0.425 level that marked the top in May, and after the more than 6-month long consolidation phase, it promptly neared the $0.50 level.

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While the short-term momentum indicators are now stretched, the coin is still in an encouraging long-term setup, although the best period to buy already passed. The coin could be dragged lower in the case of the expected broad correction in the segment, but we expect XRP to outperform in the coming period, with support levels found at the prior high and below that in the range between $0.30-$0.32.

XRP/USDT, 4-Hour Chart Analysis

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Ethereum has been the other top coin on the rise, as the second largest digital currency surged past the final range projection target of the break-out two weeks ago at $685 in the aftermath of the launch of the BTC futures on Monday. The ETH token is now also on a sell signal on all time-frames, and we advise investors and investors to wait for the next major correction to establish new positions. Support levels are now found at $575, $500, $480, and $400.

ETH/USD, 4-Hour Chart Analysis

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