🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: Laughing All the Way to the Crypto Bank

👁 ICO Watch
While banks are not really needed for decentralized crypto, this company thinks otherwise, you may need a debit card or two
Past-ICO Review: Laughing All the Way to the Crypto Bank

In the cryptosphere, which pushes for decentralization and independence from large financial institutions, it appears odd that crypto banks, a centralized institution, would appear.  Sure, you have a wallet and you can keep your crypto there, but you will still need exchanges to buy and sell until atomic swap technology is more widespread. But Bankera is offering more than just an exchange, it is offering debit card and real-time transactions. Most traditional banking technology is antiquated, especially in the US. For example, if you make a debit card purchase over the weekend it might take until Tuesday to clear- that is a long time to wait. Crypto-based transactions are instantaneous.

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Financials

Bankera ran a long ICO from Nov. 27, 2017 to March 1, 2018 and raised a massive $150 mln in funding. However, the fundraising goal of $215 was not met. The bar was indeed set high for funding. The token is and ERC20/NEM based-token designed to operate on both Blockchain platforms. Despite the positives that the company touts, not having a market cap defined on CoinMarketCap is a red flag. Its daily trading is around $100,000. The token price is negligible at $0.002402.

Team

Vytautas Karalevičius - Co-Founder (also Co-founder of SpectroCoin)

Vytautas is currently completing a Ph.D. in Cryptocurrencies at KU Leuven University in Belgium. Prior to that, he received an MPhil degree in Finance from Cambridge University. He has interned at Bloomberg.

Mantas Mockevičius - Co-Founder (also Co-founder of SpectroCoin)

Mantas has more than eight years of experience in managing operations and compliance for electronic and digital money exchanges. He holds a Bachelor’s degree in Economics and Master’s degree in Finance.

Justas Dobiliauskas - Not listed (CTO of Spectro Finance)

Justas has nine years of experience in developing software for medium and large financial institutions as well as five years of experience working with Blockchain technology and cryptocurrencies.

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Risks and dangers of the project

Not every team member specifies that they work with Bankera in their LinkedIn profiles. There appears to be strong preference for SpectroCoin over Bankera. Furthermore, the project has no open platform algorithms or open repository, having a public repository is important for building trust with the public in the crypto sphere.

Finally, there is little information and few figures relating to the market in the official documentation. This combined with poor market performance, an undefined market cap and teams preferring more interest in SpectroCoin, make the Bankera project shaky.

SprectroCoin info

SpectroCoin is a partner for process and infrastructure, founded in 2013. It is an active cryptocurrency exchange platform with the facility to order a VISA card that has more than 300,000 users. Bank cards would be issued from this partner, which most of the founders of Bankera are associated with.

There is much work left to be done before most of the product goes live. The exchange is still not operational, slated for the second half of 2018, and the wallet was recently launched earlier this year. However, 2019 and 2020 are some key years for the rest of the components to go online.

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📈 Pricewise Andrew Strogoff

Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Pricewise
Bitcoin and most altcoins bounce back after a sharp fall, have positive outlooks in short-term
Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Bitcoin and altcoins develop their corrections and establish new local highs. It is hard to say now whether this tendency is mid-term or short-term as experts have different opinion on the reasons of this huge downtrend that we can see in midterm.

Some experts think that this significant crypto market decline is the result of 2017’s cryptocurrencies hype and now the price is trying to find its balance.

Another opinion about this huge downtrend is that the US regulatory body, CFTC requires transactions data from major US cryptocurrency exchanges.

Anyway, the general situation in this industry indicates on the probability of further decline of all cryptos.

Bitcoin (BTC/USD) Price Analysis, June 15

Bitcoin (BTC/USD) Price analysis, May 25

Bitcoin added more than one percent in the past 24 hours. The currency pair bounced back the support area at 3.618 retracement level and started its upside tendency this week. BTC/USD established new highs on Thursday/Friday.

Bitcoin (BTC/USD) Price analysis, May 25

Let’s get closer to the current situation on the hourly chart. The currency pair ran upwards on Thursday and jumped over the resistance area at $6,510. BTC/USD moved higher later and reached $6,718. However, Bitcoin failed to break through this level. The possible ways for Bitcoin are the following:

  1. Red scenario (bearish). The currency pair will test the support area at $6,510 and if successful, Bitcoin will develop its downside move targeting the next support at 3.618 retracement level.
  2. Orange scenario (neutral). BTC/USD will stay within the current range, limited by $6,718 resistance area and $6,510 support area.
  3. Green scenario (bullish). Bitcoin will test the resistance area at $6,718 and move higher, targeting the next resistance at $6,943.

Ethereum (ETH/USD) Price Analysis, June 15

Ethereum

The currency pair has added more than four percent in the past 24 hours. Ethereum develops its upside corrective movement. The currency pair has found support on Wednesday and established new highs on Thursday. ETH/USD still has a positive outlook in short term.

Ethereum

Let’s see closer what is going on the hourly chart. The currency pair has broker through the resistance area at $500.36 and moved higher. However, ETH/USD failed to reach the next resistance area at $540.69 and returned to $500.36. The possible ways for Ethereum are the following:

  1. Red scenario (bearish). The currency pair will break through the current support area at $500.36 and move lower, targeting the next support at $473.39.
  2. Orange scenario (neutral). Ethereum will stay within the current price range, limited by the resistance area at $540.69 and the support area at $500.36.
  3. Green scenario (bullish). ETH/USD will test the resistance at $540.69 and if successful, will go higher, aiming at the next resistance area at $566.90.

Ripple (XRP/USD) Price analysis, June 15

ripple

The currency pair has lost less than one percent in the past 24 hours. Ripple develops its upside correction currently but fails to grow significantly as the currency pair fluctuates almost on the same levels on Friday as compared to Thursday.

ripple

Let’s see closer what is going on the hourly chart. The currency pair has reached the resistance area at $0.5643 on Thursday, but failed to develop the progress and retreated towards the support area at $0.5444. Ripple stays there currently. The possible ways for Ripple are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $0.5444 and move lower aiming at the next support area at $0.5088.
  2. Orange scenario (neutral). Ripple will stay within the current range, limited by the resistance area at $0.5643 and the support area at $0.5444.
  3. Green scenario (bullish). XRP/USD will rise towards the resistance are at $0.5643 and break it through. The next step for XRP/USD is to target the next resistance area at $0.5914.

EOS (EOS/USD) Price Analysis, June 15

eos

The currency pair added more than five percent in the past 24 hours. EOS develops its upside correction as it established new highs on Thursday. However, buyers were unable to develop their progress and the price retreated finally.

eos

The closer look at the hourly chart allows us to see the following situation. The currency pair has reached the resistance area at $11.41 on Thursday but later, EOS/USD declined. EOS is now in the middle of the horizontal channel. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). EOS/USD will move towards the support area and test it. If successful, EOS will develop its downside tendency towards $9.91.
  2. Orange scenario (neutral). The currency pair will stay within the current range between the resistance area at $11.41 and the support area at $10.54.
  3. Green scenario (bullish). EOS will test the resistance area at $11.41 and run higher, targeting the next resistance at $11.92.

NEM (XEM/USD) Price Analysis, June 15

nem

The currency pair added less than one percent in the past 24 hours. NEM develops its upside progress. However, buyers are still hesitating and seem to have not enough power to make a huge momentum currently.

nem

Let’s have a closer look at the situation on the hourly chart. The currency pair went above the support area at $0.2002. However, buyers were unable to develop their progress and the price is close to the support area currently. The possible ways for NEM are the following:

  1. Red scenario (bearish). The currency pair will decline below the support area at $0.2002 targeting the next support at $0.1873.
  2. Orange scenario (neutral). NEM will stay within the current range between the resistance area at $0.2121 and the support area at $0.2002.
  3. Green scenario (bullish). The currency pair will move towards the resistance area at $0.2121 and then run higher targeting the next resistance at $0.2234.

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Why Celebrity Coins Keep Failing: Another Flop as Ghostface Killah's Drops 96%

Celebrity backed and created coins were a huge fad at a stage, but many of them have not gotten off the ground
Why Celebrity Coins Keep Failing: Another Flop as Ghostface Killah's  Drops 96%

In the boom of ICOs it was popular to try and get a celebrity endorsement, or even for celebrities to use their way to start their own versions. However, as time as gone by, many of them have become pure failures.

The latest celebrity coin to become a major flop has come from Wu Tang Clan’s Ghostface Killah and his CREAM coin which as dropped 96 percent since its inception in January this year.

But CREAM is not the first coin to flop with Centra another, which was backed by Boxer Floyd Mayweather, having seen the SEC call it a fraud and charging its founders.

Not the CREAM of the Crop

CREAM was hopeful of raising $30 mln in its ICO however, things have not gone well for the music star-backed coin as it has dropped 96 percent. The token initially went on sale back in November of 2017, when coins were sold for as little as $0.02 per coin.

It then spiked in January to a high of $0.12, before being hit with a downward wave that struck the whole cryptocurrency market. The current value of the coin is just $0.0045.

Warning signals

While celeb-coins are nothing new, the warning that have come with them have been around for almost as long.

Andreas Antonopoulos, an early Bitcoin investor, and well-respected voice of cryptocurrency warned against such investments in these celebrity-backed coins. He said:

"The worst reason to make an investment is a celebrity endorsement. Unfortunately, this tactic works, and that's why they're doing it.”

Centra knocked out

Centra is another company that went the way of celebrity endorsement and felt the sting of basing their entire hope on one gimmick. Mayweather was pictured in September promoting Centra, a cryptocurrency project that raised over $32 mln during its ICO.

However, it only took six months for the project to fail as the SEC got involved and indicted the three co-founders for securities and wire fraud.

DJ Khaled was another celebrity that was in on the Cetra promotion racket as he made an Instagram post promoting Centra and its ability to be used in the same way as a debit card.

DJ Khaled

 

Bitcoiin2Gen pyramid comes crumbling down

Steven Seagal, the famous action movie actor, was also part of an ICO which was quickly labeled as a pyramid scheme which quickly came crashing down.

Bitcoiin2Gen was launched in January, with Seagal named as a brand ambassador. But just after the ICO ended, Segal and the coin’s founders parted ways, then, soon afterwards, Tennessee Department of Commerce & Insurance (TDCI) Securities Division issued a warning to consumers about the nature of the project.

Game over

The Game is another celebrity that endorses a Blockchain project that was focused on the emerging marijuana market growing in the US. Paragon Coin was going to build a marijuana Blockchain environment, however, the project ultimately flopped when they failed to register the ICO with regulators- leading to a lawsuit from investors.

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Forward-Thinking or Foolhardy: Winklevoss Twins Release Trading App

Calling it a ‘Winter’ the famous crypto-enthusiast Winklevoss twins have continued to push forward by introducing a trading app
Forward-Thinking or Foolhardy: Winklevoss Twins Release Trading App

It is quite apt that, on the announcement of their mobile crypto trading app together with a new investment vehicle, the Winklevoss Twins of Gemini exchange called this current harsh cryptocurrency bear market a ‘Winter.’

Not much happens in a winter — especially when it comes to bears — and thus it is bold for these Bitcoin believers to be forging ahead with cryptocurrency products despite a marked reduction in value and interest.

Only time will tell if this bullish sentiment in such a bearish market will be rewarded further down the line. However, the likes of these firm Bitcoin-believers, along with others who remain bullish, have seemingly always succeeded in going against the stream.

The move from the Winklevoss twins to launch such an app is part of their strategy to expand their reach and influence, including trying to break into the Asian market in 2019. They continue undeterred by not only the market, but also by being denied their Bitcoin ETF application twice by the SEC.

Long-awaited

According to a tweet from Cameron, the Gemini app has been long-awaited, and again, this is despite the general negative sentiment plaguing the cryptocurrency space.

The new app allows users to buy and sell crypto, and monitor real-time and historical crypto market prices for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Zcash.

Users can also see the total value of their current portfolio and set price and percentage value change alerts for their chosen coins.

Further functionality includes a “recurring buy” feature, as well as support for a newly-launched investment vehicle dubbed “The Cryptoverse”, which is a basket of cryptocurrencies, weighted by market capitalization, to be bought as a single order.

Continually bullish

The Winklevoss Twins were regarded as the first individuals to become cryptocurrency millionaires when the price of cryptocurrencies were tipping the high end of the scales, thus it is unsurprising that they are continually bullish in their belief in digital currency.

“We’re totally at home in winter,” said Tyler, and his twin Cameron added that “it gives us time to build internally, and refine and kind of catch our breath.” Cameron contextualized the new app as a bid to reach out to retail investors, telling Bloomberg that:

“A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”

Reasons to believe

It is hard not to be inspired by the bullish sentiment of the Winklevoss Twins, especially if one looks deeper at the way in which they are moving through the cryptocurrency space. It has become clear that the future of cryptocurrencies lies in being regulated and accepted by lawmakers.

The Winklevoss Twins have made it their mandate to insure they are on the right side of the law when it comes to their offerings with the exchange, Gemini, fully regulated, as well as their own stablecoin offering getting a seal of approval from the New York State Department of Financial Services (NYDFS).

The adage often goes in trading that one should be buying when there is blood in the streets, and this is exactly what the Twins are doing as they plan for the future of cryptocurrencies rather than being deterred by what is happening today.

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Ethereum Price Prediction in 2020\2025: How Much Will ETH be Worth?

📚 Wikicoin
What will Ethereum price be in the future?
Ethereum Price Prediction in 2020\2025: How Much Will ETH be Worth?

Find out why Ethereum is among leading cryptocurrencies, which factors determine the coin value, and read Ethereum price predictions for 2018 and the upcoming years.

Cryptocurrency has turned into the modern buzzword, and Bitcoin is not the only virtual asset worth investing into. Since Ethereum has come into the scene, the situation changes: today, it’s the second most valuable coin after Bitcoin, and its popularity is expected to rise. Let’s figure out what Ethereum value prediction for the future is, and how you can use it.

What makes Ethereum so special?

The cryptocurrency invented by Vitalik Buterin has turned out to be something different from Bitcoin: Ethereum is based on smart contracts and is Turing-complete, which accelerates hash time and reduces processing time for transactions. The smart contracts enabling Ethereum system are now being widely implemented in the vast majority of Blockchain-based applications and environments.

Current position

Today, Ethereum is the second market holder– it retains the position since 2017, and it’s not likely that things will change. Ethereum

Period

Average Ethereum price ($)

January 2017

7.98

April 2017

50.03

June 2017

230.9

August 2017

204.7

September 2017

383.5

November 2017

305.8

December 2017

755.8

price prediction for 2017 was totally justified: the cost has soared from $8 in January 2017 to $755 in December 2017.

In terms of growth rate, Ethereum is one of the most quickly developing cryptocurrencies, and this tendency remains.

Ethereum Price Prediction in 2020\2025: How Much Will ETH be Worth?

Ethereum price chart Jan 2017-May 2018

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Why do investors bet on Ethereum?

If Ethereum predictions 2017 were totally justified, does it mean this cryptocurrency is worth investing? A large number of professional traders and investors share the opinion that it can hit the numbers during the upcoming years. We have already witnessed it soar to $1,377 in January 2018, and the experts of Eth price prediction say that as soon as it passes $1,000 threshold, it will be easier to climb up.

The rumor goes that Ether price prediction by the end of 2018 is $10,000! Is that possible? Here are a few points to be considered:

  1. Just like any other cryptocurrency, Ethereum is prone to market fluctuations. Although it weathered the market correction, it fell from the above-mentioned $1,377 to the current level (about $710 in May 2018) facing the dip of almost 40 percent. However, if we look at the overall backdrop of the crypto market, this dip isn’t dramatic.
  2. Ethereum-based Blockchain and smart contracts are being widely implemented into new startups popping up here and there. Entrepreneurs and app developers rely on Ethereum Blockchain, and it means that they trust the currency, as well. There’s no reason for ETH to lose its popularity and value– its technical characteristics exceed what Bitcoin may offer.
  3. Another sign of trust is the fact that the Canadian government is willing to use Ethereum platform to develop its legal infrastructure. National Research Council of Canada (NRC) has started the investigation of Blockchain technology and how it can be used for making the public initiatives more transparent and open. What does that mean? First, it shows that leading nations are seeking to adopt Blockchain technology. Secondly, Ethereum is the very technology that can bring about groundbreaking changes. Therefore, the implication of this program can change the rules of the game– if they manage to establish Blockchain-based governmental programs in Canada, other governments will follow suit.

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Approximate future ETH value

Ethereum predictions for 2018 differ considerably: some claim that Ethereum would reach about $2,500, while optimists bet it can jump to $10,000. The second proposition doesn’t seem possible considering the fact that in May 2018 ETH price is around $710. The same optimistic forecasts promise that by the end of 2019, ETH value will reach $14,000, while Ethereum price prediction 2020 is $31,000.

Pure calculations

But why relying on what your friend or a friend’s friend says? Let pure mathematical approach help us. Here’s one trick, though: while the number of Bitcoins is limited, and all the assets will be mined soon, the supply of ETH in the future is unknown. We have no idea how Proof-of-Stake can alter Ether issuance. Judging by the original 2014 issuance model, the number of coins can reach 164 mln by 2020. However, Vitalik Buterin claims it will be about 100 mln, so we will base our Ethereum price prediction on 100 mln.

It is expected that both Bitcoin and Ethereum will represent 50 percent of crypto market value ($4.5 trillion), 25 percent each, which means $1,137,500,000,000 of the market will belong to ETH. Divide it into 100,000,000, and you will get $11,375 per coin.

But what will Eth predictions be, if both BTC and ETH become even more dominant than 50 percent of the market? Let’s assume they account for 33 percent of the market each– then ETH would get the value of $1.502 tln. Apply the same calculations, and you get $15,020 (this is over $5,300 from the current price).

Note that we didn’t take into account the market speculations, dividends from Proof-of-Stake, incentives and other external factors that may come into play.

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Long-term prognosis

What’s Ethereum price prediction for 2025? From the point of cryptocurrency economy, this seems to be a very distant future to judge. The vast majority of experts share one view: ETH price is to reach $30,000 in the long term. Some people are afraid of investing into Ethereum assuming this is a bubble. However, here we should understand two things:

  1. As a rule, ‘bubble’ assets go from the spheres that have no proper fundamentals to match the price growths. Ethereum is not a for-profit initiative, so it shouldn’t be approached like ‘bubble.’
  2. At the same time, the price of cryptocurrency is regulated by demand and supply. The demand for Ethereum is steadily growing– there are more and more investors willing to implement Ether Blockchain and rely on the currency behind it, so Ethereum future price prediction is quite optimistic.

Instead of monitoring the demand for Ethereum, better look at the application of Ether Blockchain– it has a huge potential, which means its price isn’t likely to drop dramatically.

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Past-ICO Review: Olympus Labs

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Crypto Indices are growing in popularity, but this company’s token price is shrinking
Past-ICO Review: Olympus Labs

Crypto indices are garnering more attention and gaining more traction on the investment side of crypto. If you, as an investor can’t decide where to put your money for a crypto investment, then an index might be the best place. After all, many investors in traditional financial markets strongly believe in the index funds and so do many planning for retirement. Olympus labs is building a product that will allow investors to buy into indices, and maybe build their own (the wording is a bit fuzzy). In an interview with Forbes Magazine, CEO of Olympus Labs said,  “We have found that it can be hard for a crypto investor to find and invest in indices that are diversified and do well. [Author’s note: just for the record, the preceding sentence is not entirely clear: does he mean crypto indices or traditional ones] For those of us who are unsure how to invest in crypto, indices are the best way to track the market by buying into some which are either researched by professional managers or picked by industry experts you may trust.”

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Financials

Olympus Labs raised some $60 mln in a token sale that ended on Jan. 13, 2018. The token sale price was $2.18 for one MOT. However, it appears that some of the information is off because when checking CoinMarketCap, the token entered the market at $0.99 on Jan. 1, 2018 and shot up to a high of $3.05 on Jan. 9 just days before the ICO. After the ICO the price fell to $1.40 on Jan. 12 has been on a steady decline since then; currently sitting at $0.18 at the time of writing. Not a very impressive performance by any means. Market cap hovers around $7.5 mln and daily volume is close to $500,000.

Team

Kai Chen- CEO & Founder

Graduating from Yale and having an interest in investment lead Chen to work in banking and investment firms early on in his career, before founding Olympus Labs and another company.

Bharat Vishnubhotla- Head of Business Development

Vishnubhotla has a BA in business administration from USC. He previously worked at Accenture before coming to Olympus Labs.

Abel Bordonado Lillo- Full-Stack Developer

Has more than five years experience in web dev and gaming. He has worked on many other projects before coming to Olympus Labs.

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Boom to bust

Olympus Labs did a great job raising funds in its ICO but dropped the ball afterward. Checking out the numbers of followers on Telegram, they did not even crack 10,000. According to Twitter, there are more followers there, 34.7K to be exact, but generally in the cryptosphere to be legit you must have a lot of followers on Telegram to be taken seriously. According to the latest Tweet: Aug. 13, they are working on integrating with Bancor and are still developing the platform. Bancor was one of the biggest failures of 2017 and anything it touches turns to dust. With this info in mind, it would be safe to say that Olympus Labs are not going too far past the starting line.

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