To read the previous ‘Top Coins for the Week’ article, click here.
The past week seems to have demonstrated a shift in market sentiment and could be the start of a major rebound. Due to significant events, this week is very important for cryptocurrencies such as; HireMatch (HIRE), Komodo (KMD), Ripple (XRP), UTRUST (UTK), and Verge (XVG).
The Current Market
FUD seems to have subsided to a significant degree, and the rebound from recent lows seems to have already begun. With bitcoin (BTC) having fallen from $20,000 in December to $6,000 April 11, 2018, current prices pose a nice entry point for those with liquidity. Each week there are many altcoins with potential events that may shift their valuations significantly. Adding utility to an underlying token is the greatest value increase a token can have.
The week beginning April 16 seems to have multiple tokens that intend to greatly increase their utility in the short term. A combination of increasing one’s utility and the publicity that comes with major events generally push specific altcoins higher on a weekly basis. With the price of BTC increasing the impending bull run may have begun. If this is the case the altcoins with events this week, and the upcoming few months should all yield very positive returns.
A savvy investor can analyze upcoming market events and try to beat normal market returns. This week has coins like; HireMatch (HIRE), Komodo (KMD), Ripple (XRP), UTRUST (UTK), and Verge (XVG), all with significant events in the next seven days. The hardest part will be trying to determine where the best short-term growth exists.
HireMatch (HIRE): Presentation In Las Vegas
HireMatch (HIRE) is an altcoin with a $3.5 million market cap and an individual coin value of $0.038. Timing sometimes does not cooperate and HIRE had their ICO conclude right as the market was correcting. This drove the value of the HIRE token South, like most other altcoins in the space.
With BTC having fallen more than 70 percent during this period of correction, altcoins like HIRE fell even further. With such a small market cap even the smallest publicity provides the opportunity for significant returns. HIRE has very exciting news this week as they have a presentation in front of recruitment giants such as Monster.com.
Tickets to the event they are presenting cost more than $1,200, so it is less likely attendance will be an option. With attendance costs being so high it ensures only the highest caliber of individuals from the recruitment field will attend.
The event is not solely a blockchain based venue. The event is taking place in Las Vegas at 11:00 a.m. on April 19, 2018. The publicity surrounding the presentation coupled with any possible partnerships that evolve from it could lead HIRE to an increase in value.
Komodo (KMD): Decentralized ICO
Komodo (KMD) is an altcoin that specializes in dICO (decentralized initial coin offerings). This is a process that should revolutionize the ICO platforms of the cryptocurrency space. April 17, 2018, begins the first ever dICO token sale, hosted on the Komodo Platform.
The BLOC token will commence and officially be declared the first decentralized ICO of the cryptocurrency space. Komodo proudly is shifting the ICO landscape beginning with the BlocNATION token sale.
KMD is currently trading at $3.75 per coin which is over $1.50 higher than where KMD was trading April 7, 2018. The momentum behind KMD is continuing to build as the date of the first dICO is approaching coupled with their revolutionizing the ICO platform. KMD has a market cap of over $390 million which should continue to rise barring any setbacks to the dICO platform.
KMD’s dICO platform goes live within the week with BlocNATION being the first dICO hosted by KMD. This week should be one of the most important in KMD history as perfect execution should lead to a continued price climb but any issue may lead to a collapse of market trust.
Ripple (XRP): BlockBid Listing and Western Union App
Ripple (XRP) is currently trading at $0.67 per coin with a market cap of $26 billion. With a market cap of this magnitude, XRP is regularly a top three cryptocurrency by total market cap. One reason for XRP’s multi-billion-dollar market cap is their partnerships with major companies in the finance sector.
Currently, XRP has solidified partnerships with The Bank of England, The Royal Bank of Scotland, MoneyGram, Banco Santander, BBVA, and more recently Western Union. XRP has the most adoption by big banks and finance companies allowing its large market cap to be justified to a degree. This week XRP has two events that should continue to build momentum behind a crypto that has had a turbulent few months.
BlockBid Exchange is listing XRP April 16, 2018. XRP recently had significant FUD regarding “exchange listing payments” which are commonplace in the crypto world. It is a very positive sign seeing them continue to spread onto new exchanges.
BlockBid was an ICO that sold $1.2 million in total coins and was granted a cryptocurrency license in Australia. This allows BlockBid to be one of the few exchanges operating legally in Australia allowing XRP exposure to an entirely new continent. What makes XRP so valuable is the mass adoption that is taking place by the finance sector of the XRP token.
This can be demonstrated by their partnership with Western Union. Western Union is releasing their new payment application in the Caribbean and Latin America, April 18, 2018. The technology behind the app involves Ripple, and if the application is well received, XRP should appreciate in value. More and more exchanges and finance companies are endorsing the XRP token, and with each partnership, the utility of the XRP increases.
UTRUST (UTK): Platform Presentation
UTRUST (UTK) is a cryptocurrency with a market cap of $56 million and a coin value of $.19. UTK makes it onto this week’s list because of their platform presentation. When a coin adds utility their underlying value greatly increases. When a platform is released successfully in the delay riddled development world, the associated token generally starts a bull run. UTK is up over 30 percent in the last 24 hours which is likely due to the excitement and hype surrounding their platform presentation this week.
April 19, 2018, UTK presents their UTRUST platform at the Zero-In conference in Amsterdam. This is an event that will provide publicity while demonstrating the platform UTK will soon release to the public. The price of UTK has already started to move but with the major presentation still days away there may still be an opportunity to accumulate. The most important factor in driving a crypto currency’s value is utility and UTK is about to add significant utility to their coin.
The UTRUST platform intends to allow users to buy items, digital or physical, using their cryptocurrency of choice. Simultaneously UTK provides consumer protection by holding coins in escrow until the transaction is fully complete. The token behind this ingenious escrow platform? The UTK token. Without a functioning platform, the UTK token is useless. The UTK token is about to be given that platform dramatically increasing its utility in the coming days.
Verge (XVG): Partnership Announcements
Verge (XVG) is a cryptocurrency trading at $0.09 with a market cap of $1.4 billion. They are a privacy coin trying to implement some unique features that make them stand out from the competition. Users such as shop owners and merchants may prefer to use a public ledger for accounting purposes. Other users who desire complete anonymity can voluntarily switch to a private ledge with a click of the mouse.
This week is exciting as XVG has promised to announce major partnerships. One can only speculate what type of partnership they will be announcing, but in the author’s opinion it is likely this is a large scale agreement for XVG to be accepted in a marketplace, or an agreement with a large group of developers to continue to push the XVG project forward. For those interested in riding the hype wave of a partnership announcement XVG is a possibly strong option to target in the short term.
If the XVG partnership is better than expected, it is likely XVG begins to trend North in the immediate short term. With a market cap of over a billion, it is unlikely to “moon” but is very likely to have double-digit percentage increases depending on what the announcement is.
The Tides Are Turning
The crypto markets are very turbulent. They have wild swings that sometimes result in people feeling as though they can purchase Lambos and other times it feels as though the digital code is worthless.
The massive correction from December until now has resulted in many weak hands and late entrants to be flushed from the markets. Most people cannot handle swings in value of over 70 percent. This has allowed for many of the largest wallets to continue to accumulate mass quantities of cryptocurrencies waiting for the tides to turn.
Each correction in crypto history has been followed by a bull run of epic proportions. Did the bull run start a few days prior? Are we on the cusp of it? Time will tell, but with FUD having subsided greatly it seems many altcoins on a weekly basis can be targeted for short-term gains or long-term holds if you believe in the underlying crypto.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
To read the entire ‘Top Coins for the Week’ series, click here.
The post The Best Cryptos for the Week of Apr. 16, 2018 (HIRE, KMD, XRP, UTK, and XVG) appeared first on BTCMANAGER.