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Why Investors Should Pay Attention to Metal Coin

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The current blockchain and ICO investing climate is very much in favour of grand solutions that are going to “revolutionize business” and other extremes along that line. But these companies are missing a very real problem in the crypto world: many potential users are still afraid of investing in them.

Right now there is a lot of opportunity in consumer facing applications. If any protocol can figure out how to harness the interest of consumers while making it much more accessible than Bitcoin, they have a major opportunity. This is a lot of why Coinbase has been so successful – they are considered to be the simplest to deal with.

Introducing Metal Coin

With a special focus on day-to-day usability, Metal Coin (MTL) is an ERC20 token that rewards users with free tokens when they spend cash, send crypto, receive crypto, or convert fiat to crypto (applies vice versa as well). Using the app to do any of these actions can earn up to 5% back in MTL tokens.

This may sound like a ludicrous and infeasible reward, but it is very similar to how credit card companies currently work. And blockchain companies are generally run in a more streamlined manner with lower overhead, which could explain the higher than expected payout.

Basic Use of Metal

Signing up for Metal is designed in a streamlined manner so it is easy to get your money into the system and then you start getting paid in MTL right away as you use it. The process for payouts is referred to as Proof of Processed Payment (PoPP) which distributes coins when payments or transfers have been verified.

As with any other cryptocurrency investment, users must verify their identity and be fully compliant with KYC rules relevant to Metal. Your MTL can be stored in any wallet that supports ERC20 tokens, and there is a special web wallet called Metal Vault available as well.

Current Performance of Metal

Metal suffered a lot in the 2018 crash, and has continued to go down since then. From a peak of ~$11.00, it has now dropped to around $0.67. This can be seen as a bad thing, or it could be an opportunity to capitalize on. Metal is likely to move in sync with the entire crypto market, since it is an entrance funnel for funds. If you believe crypto is going to make a comeback (which I assume you do if you’re reading this), then MTL would be a high-correlation bet on the entire industry.

The team has been working on expanding Metal since 2016 and is continuing to distribute MTL tokens through PoPP as more users perform transactions. Ideally, these tokens become higher in value as the demand in the Metal app grows.

In a lot of ways, MTL has the potential to become a gateway to the cryptocurrency ecosystem for many users. Metal is a cryptocurrency designed to capitalize on the current inaccessibility of cryptocurrency by marrying it with the rampant mobile payment trend. Consumers are generally drawn into the idea of “free tokens”, and it ends up working as a “gateway drug” of sorts to other cryptocurrencies.

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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TRON Price Slides 7.2% Despite Release of TRON’s Version of MetaMask

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TRON just received its own version of Ethereum’s MetaMask in the form of TRONLink – an app which allows web browsers to interact with the TRON blockchain.

While the new feature may open up the TRON blockchain to the technically curious, it is unlikely to register a blip on the radar of the average altcoin buyer.

As such, TRX has seen a continuous slide for the last five days, during which time it lost 7.2% of its value.

This reverses the trend of recent months which had seen TRX break away from the pack thanks to various fundamental developments, and an always active Twitter presence.

TRON Blockchain Gets TRONLink

Created by a TRX wallet developer, TronWatch, the new TRONLink browser extension is available for Chrome, Firefox, and Brave Browser users.

The extension functions in the same way as Ethereum’s MetaMask, allowing for direct, secure access to blockchain applications and services.

According to the Medium blog post released earlier in the week:

“By integrating TronLink, developers are able to interact with the smart contracts they create for their DApps right inside their browser. Interactions that were previously impossible are now easily accomplished. This enables games, applications, sites, and more , all fueled by the TRON blockchain through TronLink.”

The extension comes at an apt time in the development of Tron, and can now be used to access TRONBet – the blockchain gambling app which recently pushed TRX transactions to higher numbers than that of Ethereum.

TRON founder and CEO, Justin Sun, took to Twitter to announce the news himself, stating:

“With TronLink Beta, developers will now be able to access #TRON‘s blockchain, create and interact with decentralized applications from their Chrome and Firefox browser. More #Dapps on TRON very soon!”

TRX/USD

In the five days leading up to October 23rd, the value of TRX dropped by 7.2%, as the coin price slowly dipped from $0.024933 down to $0.023114.

That’s the biggest dip TRX has taken since the flash dip on October 10-11th, when TRX lost close to 25% of its value. Yet despite this, TRX is now at break even for the month, having opened at the $0.023 mark thirty days ago.

The quarterly high of $0.04 reminds just how much potential for growth there still is the altcoin market. Back in spring of 2018, $0.04 was the support level from which TRX sprung to 100% growth in the month of April.

TRX/BTC and TRX/USDT trades are the most concentrated across various exchanges in the last twenty-four hours. TRX volumes dipped to $75 million on Wednesday, down from the $400 million recorded on October 8th.

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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4.4 stars on average, based on 82 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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Altcoins

Zcash (ZEC) Price Analysis: Market Cap Growth Continues, More Updates Coming Soon

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  • Zcash moves up to rank 19 on the top cryptocurrencies by market capitalization.
  • The Sapling upgrade just a few days away, as Zcash team suggest there could be more announcements soon.

Zcash (ZEC) continues to jump up the ladder, with its growing market capitalization. Last week it managed to creep into the top 20 cryptocurrencies, by market cap. Most recently, it has now moved up to rank 19. At the time of writing, it is seen at $624.5 million, ahead of VeChain (VET) with $612.6 million.

Countdown for Sapling Upgrade

It is just under 6 days now until the anticipated Sapling upgrade from the Zcash foundation. According to the firm, ‘Activation block 419200 will be mined October 29, 2018 01:31 UTC+00:00 assuming 150 seconds/block.’ The build-up of this is something that has appeared to be very supportive in the elevation of the ZEC price.

The Sapling is a network upgrade that boasts increased efficiency for transactions of which are shielded. They will facilitate broad mobile, exchange and vendor adoption of the Zcash shielded addresses. Zcash’s goal is to also see increased speed with these shielded transactions; it is touted that transactions can be shielded in less than 1 second.

New Announcements Coming Soon?

The Zcash team via their Twitter account have continued to count down their upcoming upgrade, tweeting “Is your product is #Sapling-ready? Or you would like to learn more about supporting the #Zcash Sapling upgrade? Reach out and let’s connect!” Within the tweet, they covered existing Salping-ready services listing; Bithumb, BitGo, Coinomi, Lamassu, Ledger, Suprnova, Trezor and WinZEC. They noted “MORE COMING SOON!” implying there are potential pending partnerships and integrations in the works.

Technical Review – Daily Chart

ZEC/USD daily chart

ZEC/USD bulls are on the hunt for an extended breakout north, as a vital trend line is being tested. A break of the mentioned resistance is seen tracking at $126. If a breach and daily close above, should open to door wide open to some buying pressure. The bulls will be met right away by some supply running from $130-133. As a result, sellers have knocked the price down throughout October, within this territory. Finally, for upside targets, a rally up to $145, would like then come into play. The price last traded here on 28th September.

In terms of support, this is seen all the way back down at $110. A lower supporting trend line can be observed tracking here. This has been active since mid-September. Furthermore, a buying area is noted from $100-95.

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 33 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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Binance Listing Announcement Triggers 29% Growth For Decred (DCR)

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Yet another coin just felt the beneficial effect of a listing on Binance – the world’s largest cryptocurrency exchange by adjusted volume.

Following Tuesday’s announcement by the Binance team, Decred will be listed on the exchange starting Wednesday, October 24th.

The previous month has been one in which the power of a listing on a major exchange has made itself obvious. Just two weeks ago Ravencoin (RVN) gained a Binance listing and shot to 351% growth. Meanwhile Basic Attention Token (BAT) gained close to 50% in the last week based on the mere speculation that the Coinbase exchange would be listing it soon.

DCR/USD Surge

As you can see from the chart below, it seems very few people knew about the DCR listing until it was announced by Binance.

The early morning spike hit just as the blog post was tweeted out, and over the next few hours DCR went on to record 29% gains – climbing from a price of $38.79 to $50.35.

The coin’s trade volume increased by a factor of 2,260% as it rose from the $500,000 range up to the current sum of $11.8 million. The majority of those trades have come in the form of the DCR/BTC and DCR/KRW pairs, with Bittrex, Huobi and Upbit housing most of the action.

With the morning’s spike, DCR bypassed weekly and monthly highs, while the quarterly high of $70 is still some distance away.

The project began development in 2015, and the coin remained below the $3 price range for nearly two years, up until it was carried along with the rest of the market in 2017’s surge.

Binance Picks Up Decred

The Binance blog post published on Tuesday morning states:

“Fellow Binancians, Binance will open trading for DCR/BNB and DCR/BTC trading pairs at 2018/10/24 04:00 AM (UTC). Users can now start depositing DCR in preparation for trading.”

The Decred team on Twitter followed this up with a celebratory tweet thanking Binance and its founder CZ for the listing on the exchange:

“Thank you @cz_binance & @binance, we’re honored to have $DCR listed on your exchange!”

Binance’s own informational on Decred emphasizes its use as a transactional currency, and notes that the coin will never experience the issue of having to hardfork, stating:

“Decred is similar to Bitcoin. There will only be 21M coins created, ever. The big difference: Decred uses advanced and innovative technology that solves blockchain governance. No hard forks needed. Exchanges will never have to deal with customer requests for splits. The general public will never have to sift through contentious forks or be fooled by claims of a “better Decred.”

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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4.4 stars on average, based on 82 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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