By: Patrick Conlin
Bitcoin continues to hold its value strong surpassing the 4,000 mark on Thursday following a midweek dip, but the investments recently in the previous month have been largely centered around alt-coins. As interest gains in the crypto gold standard have been slow to materialize despite an uptick in daily volume certain alt-coins have performed very well in their interests yields comparable to BTC. The most significant fact supporting this hypothesis is that BTC dominance resides at 50.2% according to Coinmarketcap.com as I’m writing this article. It suggests a stable decline from the nearly 51% a week ago on March 23 and an improvement from the 52% on February 28. As market interest has shifted to alt-coins there are a few projects to highlight over the previous week. The first coin to blowout is Tezos a smart contract platform billing itself as the next Ethereum. Through its formal verification process and its recent announcements of new exchange listings including Coinbase pro Tezos has blown out by almost 100% in the previous week. After remaining stagnant in its volume in the mid to high .46-. 49 cent range for a number of weeks it has ballooned since March 19 from .49 a token to a high of .95 on March 29 before falling back to .88 (all evaluations are in USD). As their exchange listings continue to expand its reasonable to expect daily volume to reflects an increase of evaluation. Secondly, is BAT or Basic Attention Token. An ecosystem that developed its own browser called Brave focused on advertising revenue and rewarding user attention it has gained nearly 50% this week from .19 on March 22 to a high of .30 on March 29. The last few days has seen a significant uptick in buy volume. Finally, we will focus on a slightly more unknown project called Elastos. Both Tezos and BAT are top 25 coins according to CMC, meanwhile Elastos is currently listed just outside the top 100.
I believe one of Elastos’s strong suits is that they exist as a small circulation token. Currently, they have a circulating supply of 15,074,481 million tokens with a total supply of only 34,271,882 million. Anyone who knows me or has read me understands that I’m generally skeptical of large circulation tokens as I tend to view them as an attempt to overvalue their project. Not that the insanity of early 2018 is an indicator but the projects high did exceed some $89.00 dollars per token. After struggling for a while with its volume and price, seemingly flatlining over the previous months investors should really start paying attention. After a couple months dip of stagnating in the low 2.00 USD range struggling to break a ceiling of 2.40 Elastos has headed its earnings in March surpassing the 3.00 dollar mark today. Building itself as a decentralized infrastructure for the internet it seeks to create a blockchain powered platform to build on top of the existing internet for separate network communications from application computing, enhancing network security. The project is built off Bitcoin’s network to optimize security and efficiency. Either way its recent movement surpassing previous thresholds is a positive sign for the projects value.
A credit is owed to Coinmarketcap.com as a resource for the above article.