This Week’s Crypto Winners
The holiday period has brought some excitement to the area, with crypto experiencing a “flash crash” of sorts on December 27th/28th and then recovering to its previous levels. Bitcoin continues to hover around the $3,800 level, and India has finally given the green light to embrace crypto in some regard (although it will be under strict regulation).
What happens when you combine two of the most wild and fast-moving industries: blockchain and marijuana? You get the opportunity to see massive price surges like Paragon experienced overnight where it experienced a nearly 10,000% return. This represented a jump from $0.10 to approximately $10.00, which is notable to say the least. PRG is ranked as #191 in terms of market capitalization and mostly flies under the radar. The coin gained controversy by being deemed a security by the SEC and receiving a cease-and-desist order in November, and this massive spike is just another reason they will be under scrutiny. Once the dust settled, the resulting increase was still a healthy 135%.
StarChain is an altcoin that specializes in the management of intellectual property (IP) in the culture and entertainment industry. However, it experienced a 125% increase in the last 7 days, with 24-hour volume of $692,091. The last year has seen steady declines in the price of StarChain, with a massive increase in late April 2018 that later dissipated quite quickly.
e-Chat is a decentralized application that focuses on personal data protection and helping facilitate simpler instant messaging using blockchain technology. The ECHT coin debuted on December 21st and experienced much more interest in the last two weeks. This interest resulted in a 123% increase in price and 24-hour volume of approximately $940,509.
OneRoot Network is a more well-known coin that ranks at 103 in terms of market capitalization. 2019 has brought good things to it, as it went through an increase of approximately 117% and experienced 24-hour volume of $3.3 million. Their goal is to build an infrastructure network that will be able to more easily bring blockchain technology to day-to-day life. This may sound like a common goal, but with a decentralized trading platform, centralized trading platform, and many other projects on the go, they have the delivery record to back it. There doesn’t seem to be any specific news that would lead to this massive increase in price, so it is likely to be attributed to a recent interview the founder did.
PlayCoin (both the QRC and ERC token) went through a 65% increase in the price of its PLY coin over the last week. This applies to both tokens for PLY, although only the chart for the ERC token is shown below. This coin is targeted at game creators and users and uses a special payment gateway to facilitate payments and transactions between users. Once again, there is no recent news on the coin, although the news is rather opaque.
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.