🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token

👁 ICO Watch
A platform that offers you rewards for listening to your music on a consolidated platform, but is not listed on CoinMarketCap nor exchanges is very detrimental
Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token

A music-playing app that helps you earn crypto rewards as you listen to music. Why didn’t I hear of this earlier, is what you are all probably asking yourselves. The app rewards users for their time streaming music, listening to ad impressions and, of course, sharing the personal data that is collected in the app. The protocol records transactions on the Blockchain that reflect a user’s contribution to the network through consumption, curation or creation of content. Additionally, a smart contract distributes rewards in response to these contributions. Launching initially on the Current platform, the protocol will be open for developers and third-party providers to help expand the ecosystem.

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Financials

Current has raised some $36 mln by Feb. 7, 2018 in their ICO. CoinMarketCap, in a very rare occurrence, does not have CRNT listed. Therefore, it is very hard to provide any feedback or analysis on the token price. At this juncture, it is not even sure on which exchanges the token is available for purchase on.

Who is behind this creation?

Well, it is not apparent on the website who is doing what. Only with some further in-depth research U.Today was able to uncover who is on the team behind Current.

Dan Novaes- Co-Founder, CEO

Novaes is the Co-Founder and CEO of Current Media. An incentive-based media streaming ecosystem. He started his first company at the age of 15 with $1,000 and bootstrapped it up to over $2 mln/year by his freshman year in college.

Nick McEvily- Co-Founder, CPO

McEvily plays a crucial role in start-ups, to assist in creating brands and go-to-market strategies. Whether it is design, development or business strategy, McEvily has managed and directed digital products at all stages of their lifecycle- from concept to market.

Kiran Panesar- Co-Founder, CTO

Panesar is a software developer and engineering leader based in Chicago. He has a passion for startups and building large-scale technical products.

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What’s the app? What’s the reward?

Current provides a more efficient discovery and search experience to over 160,000 users by consolidating popular media networks into a single place. Users will be compensated for streaming content from the systems that they love such as SoundCloud, Spotify, YouTube, etc. through the release of CRNC. Every individuals’ behavioral data points surrounding the topics, types, and times played across different networks will be combined to serve up better recommendations compared to any single system.

Final thoughts

Current seems like a great platform, but it is a bit strange that they are not listed on CoinMarketCap. While looking around the website, it is missing a lot of information, such as, who is on the team, what is the roadmap, etc. The app appears to work, based on other reviews. But it was disconcerting that they did not respond to emails asking for more information and interviews.

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🤷 Opinions Alexander Goborov

EOS vs. Ethereum: The Bitter Rivalry Re-Examined

Opinions
EOS and Ethereum are continuously at loggerheads: here we attempt to deduce why
EOS vs. Ethereum: The Bitter Rivalry Re-Examined

Ethereum and EOS just don’t seem to be on the same page and agree on most things crypto, apart from unanimously declaring that the Blockchain itself is our virtual future. Of late, there have been scandals and accusations, but where is this all coming from? Is there more that meets the eye? Turns out yes, there is.

A Bit of History

Ethereum was established in 2015 by the Russian-Canadian programmer Vitalik Buterin. The company very quickly ended up among the market leaders, becoming the second most valuable currency by market cap with around 22 billion USD. EOS got officially launched much more recently, only this year, but the company is already the fifth in the world by market cap with around 5 billion USD.

Importantly, one of EOS’s founders, Daniel Larimer (the other being Brendan Blumer of Block.one), already possessed a substantial amount of crypto experience as he had previously founded both the Steem Blockchain, along with its native coin of the same name, and Steemit, the corresponding social networking platform, back in 2016.

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ERC-20 Tokens

What some may not remember is that EOS actually started out as an Ethereum Blockchain-based ERC-20 token company. Similarly to how, say, Electrify.Asia are conducting their business at present, EOS used Ethereum—having gathered around one billion USD from token sales—to gain the necessary momentum before they launched their very own EOS Blockchain.

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This means two things. One is that Ethereum was used as a crypto springboard of a sort whose services were let go of when they became redundant. And two, Larimer and Blumer were savvy or even devious enough to use not the Steem Blockchain, ready at hand, but the more powerful one by Ethereum, though it belonged to a different camp. Today, EOS has both its own Blockchain platform / EOS altcoin and its own working EOSIO token with a similar purpose to ERC-20. So yes, it is possible that Ethereum views EOS as a younger neighbor from across the street who has now suddenly started playing on the same team with the big kids… and winning, too.

The Punches Being Thrown

While both networks are solid, both have their drawbacks of course. The EOS team has been fairly vocal in pointing out or at least hinting at Ethereum’s technological problems and problems-to-be. For instance, traffic congestion for Ethereum is not that unusual with some reports of longer confirmation times having been publicly voiced already. Another one of Ethereum’s problems, which is, in fact, the cause of the first one, is scalability: because of how the platform is modelled, expanding it is bound to create all sorts of jams and delays, and, crucially, not let the network grow properly beyond a certain point. This dilemma is said to be noticeably less pronounced on the EOS Blockchain because of how the latter one is built.

Also, unlike Ethereum that charges its participants fees in the form of “gas”, EOS charges its users nothing whatever. Instead, the network asks for some power and bandwidth in exchange, which are proportional to the resources required to undertake that particular action on the platform. This was also publicly noted by those who side with EOS.

It didn’t take much time for the Ethereum team to return the favor which culminated in a serious accusation this past summer from Ethereum’s DApp developers, among them Justo. Conveniently enough, this accusation also single-handedly explained why Ethereum’s network was getting congested and gas prices were jumping up and down:

“Myself, and many other high profile Ethereum application developers made a prediction that EOS would, in all likelihood, attempt to attack the Ethereum network gas prices to validate the launch of their platform.”

And further, after it had allegedly happened, in response to how one can be sure it was indeed EOS:

“EOS has been attacking the network on and off every time something they do doesn’t run properly… It started one month running up to the mainnet release. It was predictable and very clearly orchestrated… Follow the wallets. If you don’t think EOS is doing it, then who has 2 million dollars a day to attack Ethereum, and also owns EOS tokens?”

Daniel Larimer’s cold and succinct response can be seen below:

Larimer Message

The Most Recent Scandal

Earlier this week, Ethereum went a step further and plainly accused EOS of not being a Blockchain company altogether, a claim of immodest proportions. A research study conducted by the Ethereum-funded company ConsenSys and its partner Whiteblock concluded that EOS had been built using a model which is profoundly different from the universal standards of today’s Blockchain technology. Whiteblock’s CTO (Chief Technology Officer), Zak Cole, who is also one of the published report’s authors, proclaimed:

“EOS token and RAM market is essentially a cloud service where the network provides promises for computational resources in a black box for users to access via credits. There is no mechanism for accountability due to the lack of transparency on what block producers are able to create in terms of computational power.”

This has resulted in a heated discussion on Reddit with many users taking a stand in support of either of the two companies.

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Epilogue

The rivalry now seems like the result of bad blood right from the very beginning. Predicting what is going to happen next is difficult, but most likely things are only going to get more wound up. The market is ultra competitive and billions of dollars are up for grabs. On the plus side, perhaps a by-product of this rather nasty exchange will bring the users better and cheaper technology; after all, as the late Henry Ford once said, “competition is the keen cutting edge of business, always shaving away at costs”.

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📈 Pricewise Andrew Strogoff

Bitcoin, Ethereum, Ripple, EOS, NEM Suffer Losses, Uptrend Delayed: Price analysis, August 1

Pricewise
Bitcoin and altcoins fall as bulls lose power
Bitcoin, Ethereum, Ripple, EOS, NEM Suffer Losses, Uptrend Delayed: Price analysis, August 1

Hello, dear readers. This is Andrew Strogoff again and I have some bad news for buyers! Bears have breached bulls’ lines and pushed the market lower. I am far from thinking that the downtrend will last for long but currently it has some room to develop.

As for the news, I have found nothing bad, that may affect the market negatively. This means that the decline may be the result of technical correction. However, I have some interesting releases for you to read.

The first news comes from the Block.one EOS team. They have released their Demux software allowing databases to receive direct updates from the main network. The main idea of this software is to make it easier to create decentralized applications.

Another great news comes from the US. Madonna, famous pop star starts a new fundraising campaign that involves Ripple. Her aim is to help Malawian orphans.

Bitcoin (BTC/USD) looking for support

The situation has changed significantly on Tuesday as BTC/USD declined. The currency pair has lost more than six percent in the past 24 hours. Now buyers are trying to give support to Bitcoin, but bears are too strong and it is not easy to do it.

image

Bitcoin has broken through several support areas on Tuesday including $7,949, $7,734 and $7,565. BTC/USD fluctuates below $7,565 currently. The currency pair stays below $8,000 which is not good for buyers as they were unable to develop their success or to hold positions.

Anyway, I think that bears still have some power to push the currency pair lower. I believe Bitcoin will fall towards $7,341 before starting its correction towards my target. By the way, I have re-established my target lower. Now it is at $7,734.

Ethereum (ETH/USD) bears push it lower

Ethereum has lost more than seven percent in the past 24 hours. The news is bad as bulls now face hard times. The good news is that this downtrend has no fundamental reason, meaning it won’t last long. I think that we will have an upside correction in the nearest future at least.

image

Ethereum has broken through several support areas including $453.24 and $431.42. It fluctuates close to the next support area at $417.28. ETH/USD is close to its monthly lows and I think that currency pair has almost no room for further developing of the downtrend.

My trading idea for today is the following– the currency pair is likely to start growing targeting the resistance area at $453.24.

Ripple (XRP/USD) suffered losses, correction on the way

Ripple suffered losses on Tuesday but they were non-significant. The currency pair has lost less than three percent. XRP/USD is close to the monthly lows meaning we are close to the correction.

image

Ripple is close to the support area at $0.4232. The currency pair has almost reached monthly lows and I think that bulls are likely to counterattack in the nearest future. I have changed my targets and laced them closer to the current price. I believe that the cryptos will reach higher targets but I’m a realist and we have to get closer targets first.

I hope the currency pair will reach $0.4744 in the nearest future. This is my closest target for the next couple of days. As for bearish pressure, I don’t think that sellers have power to push Ripple below monthly lows.

EOS (EOS/USD) ready for upside correction

EOS followed the other currency pairs and declined on Tuesday. The currency pair has lost more than five percent in the past 24 hours. However, it is close to the monthly lows meaning we have an upside correction on the way.

image

EOS has reached the support area at $7.10. The currency pair has broken through several support area on Tuesday and I think that this downtrend is almost over there. I have set my targets closer to the price.

I still believe that EOS is very promising as the whole crypto market is. However, my targets for the next couple of days lies at $8.29.

NEM (XEM/USD) declined, but looks promising

NEM has lost almost eight percent in the past 24 hours. The currency pair followed its rivals on Tuesday and declined significantly. However, I’m far from thinking that this downtrend will develop as there is no fundamental reason for this.

image

NEM reached the support area at $0.1561 on Tuesday and stopped there. I think it is time for an upside correction at least. The currency pair is close to its monthly lows and has almost no room for further decline. Moreover, I believe that this downside momentum is temporary.

My current target is at the resistance area at $0.1883. I think the currency pair is likely to reach it in the couple of days.

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🕵️‍ ICO Watch Eric Eissler

Crypto-For-Cash Lender Faces Low Liquidity: Past-ICO Review

👁 ICO Watch
The lending marketplace faces disruption from crypto, but many questions remain
Crypto-For-Cash Lender Faces Low Liquidity: Past-ICO Review

 

SALT (Secured Automated Lending Technology)  is crypto-based lending company, which for a crypto collateral, will lend the borrower cash. The borrower can then make payments to pay back the loan or forfeit the crypto collateral in exchange for the debt to be cleared.

The idea behind the loans is for long-term HODLers to maintain their long positions, without losing possible profits and to avoid taxes levied against them for selling. Essentially it is a way to make use of crypto’s equity without having to sell it.

Balance the ledger

SALT had a 15-day ICO that ran from Aug. 1 to Aug. 15, 2017, and it raised more than $45 mln from its fundraiser. Its market cap is $75 mln and the current token price is $1.25 down 82 percent from its entry of $6.91 on Sept. 29, 2017. CoinMarketCap ranks it at 121 on its charts. SALT did see an all-time high of $16.72 in January 2018, when the crypto market was experiencing massive investment, only later to experience a massive fall in value over the first quarter of 2018.

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Loan sharks?

Traditional loans are the way for many to borrow money with terms and conditions that are regulated by government. Banks are required to be able to meet a laundry list of requirements to be able to lend.

Conversely, there are predatory lenders in the US such as payday loans or automobile title loans, which loan money to often poor consumers, who either pay high interest (20-30 percent) or having their automobile taken to pay the debt.

So how does SALT do it? While not readily available on the website, interest rates on the loans vary between 10 percent and 15 percent, depending on the terms of the loans. When borrowers apply for a loan, the available options are then presented and they can choose among them.

Not the ideal scenario for someone who wants to shop around first before committing to a loan agreement, however, if the borrower decides to split with the cash SALT just liquidates the crypto to get back its cash.

Membership fees to borrow?

SALT tokens are used to pay for your membership in the SALT system; it is a tiered annual fee that varies based on the size of the loan. At the bottom is one SALT that covers up to $10,000 and at the top it is 100 SALT to borrow over $1,000,000 with various tiers in between.

This is rather a new ploy for the lending business, paying an annual fee just to be able to borrow money.

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Suspended memberships and low liquidity

In February this year, SALT suspended new memberships and loans. It seemed that low liquidity was an issue. We wanted to learn more but about this challenge, but we were unable to get a response to our questions. Some other interesting things that we would have liked to have known were:

  • How much have you been able to lend since starting?

  • How have repayments been? Do you find your borrowers are repaying or are you keeping the collateral crypto?

These questions, answered, would have given us better insight into how the company operates and how their lending practices are trending in terms of paybacks or asset liquidation.

Competition ventures into new frontiers  

While the lending market is highly regulated around the world, SALT has invented a unique workaround. However, as this type of lending gains more popularity with crypto enthusiasts, SALT could find more competition cropping up to dilute their market share.  

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Crypto Gags Heewon Jang

Blockchain Helps Queen To Save Her Pennies ????????????

Crypto Gags
God Save The Blockchain
Blockchain Helps Queen To Save Her Pennies ????????????

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📈 Pricewise Daniel Osten

Bitcoin’s Lateral Movement Helps EOS and NEO grow, Monero in Distress

Pricewise
EOS and NEO shake up the market while Bitcoin loses dominance. Will this tendency continue?
Bitcoin’s Lateral Movement Helps EOS and NEO grow, Monero in Distress

The end of April passes under the sign of the buyer, and it would seem, what difference does it make who moves the market forward- whales or guppies? However, understanding the causes and effects, as well as the internal mechanisms, and not just the external image, is the key to success in the (still) wild and ruthless world of crypto trading.

We have already learned that most of the players are guided by two basic emotions: fear and greed, which are actively exploited by the big players. Sooner or later, everyone who thoughtlessly follows the crowd will end up in their net.

On the other hand, due to limited resources, a private investor is not always able to imitate the actions of market-makers, nor is that necessary. It’s sufficient to understand the key levels from which large purchases and sales are made, and build one’s risk management on the basis of that knowledge.

EOS reaches Bitcoin-level trading volumes

By the beginning of the new week, market capitalization has approached $440 bln, while Bitcoin dominance has fallen to 36.8 percent.

We continue to believe that soon capital will begin to flow back into the main asset, but for now, altcoins are the principal driving force.

EOS is primarily in the forefront- over the weekend its price rose from $17 to $23, and trading volumes nearly caught up with Bitcoin on the Bitfinex exchange.

NEO and TRON stay in the green

By Monday, however, after the rapid growth, we see fallbacks for most positions and EOS, losing four percent, was no exception. Cardano fared worse than the other top 10 assets, with a decline of six percent; other coins stay at yesterday’s levels, for now. Only two assets are in the green- NEO, which grew by 12 percent and TRON, slowly (by four percent) but surely creeping up.

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BTC/USD

With a high degree of probability, on Monday we will see not only a correction in the altcoin camp but also a slight reduction in the price of the main asset. This is based on the daily price graph, where the uncertainty-indicating Doji candle is replaced by bearish engulfing.

BTC / USD, Bitfinex, 1 Day Chart

On the four-hour chart, more familiar to our readers, we can clearly see that the key level for today is $9,200. It is intersected by the lower boundary of the yellow ascending channel and if the bears finally show themselves and push the price down, the path will be open for testing the zone of $8,900-$8,800, and then (but not today) $8,600-$8,400.

BTC / USD, Bitfinex, 4 Hour Chart

At the same time, it is in this range of $8,900-$8,800 that a big buyer has revealed himself twice already. If he decides to defend his positions again, then we can forget about a deeper correction for the time being. The growth prospects for today remain rather vague, the main asset has been in a lateral trade with weak growth dynamic for about a week, and investors are not well placed for a good start from current positions, so we are not likely to see a price above $9,500 in the course of the day, unless it is willed so by the whales.  

EOS/USD

Given the record growth that EOS showed since the end of the global correction (more than 500 percent), we can confidently say that the asset has firmly established itself in the top five, which means that we will give it more consideration in our reviews. After reaching $23, EOS headed for a correction the depth of which is 15 percent at the moment.

EOS / USD, Bitfinex, 6 Hour Chart]

The nearest Fibonacci level, coinciding with the previous maximum of $18.5, is 0.236. This is not the strongest value, and if not for a very high level of hype, which is capable of "breaking" the rules of technical analysis, we would argue that there will be a correction to the value of 0.382 at $15.7. In the current situation, this is still possible.

But it is almost certain that the price will not be allowed to go lower. Although, after such a rally, continued growth would be simply indecent, so we are expecting lateral trading in the  range of $17-$20. When the graph shows more data for building local channels, we will be able to give a more accurate assessment of the situation. Until then, if the EOS train has already left without you, the best solution is to refrain from trading.

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NEO/USD

In the context of global growth, NEO has reached its medium-term prospective goals, which we previously indicated- on Sunday, the maximum price was $95. There is another reason to rejoice: the asset has finally formed a simple and sensible ascending channel, making further analysis of price fluctuations that much easier.

[NEO / USD, Bitfinex, 4 Hour Chart

The nearest support zone is $80-$83, but it is likely that NEO will go into a lateral trade before it is reached since the width of the ascending channel now allows this without threatening further growth.

In the case of a deep Bitcoin dive, a correction to $75 is an extreme possibility, but bears are unlikely to push the price further down despite all efforts. It is premature to speak of growth targets exceeding the local maximum- first, the asset needs to form the basis for continued movement.

XMR/USD

During the last few days, things are not going well for Monero, and we note a decrease in investor interest. Having reached the mark of $300 in the middle of last week, the asset didn’t just enter a correction but also formed a descending channel.

XMR / USD, Bitfinex, 4 Hour Chart

At the time of writing, Monero is trading at $245, the 0.382 value of the Fibonacci retracement. Next comes the support zone $230-$235, where we expect a surge in buyer activity. To say with certainty that the price will not go down would be to forget the lessons that the market has repeatedly taught us. However, the probability of this is slight. Until Monero leaves the descending channel, it is too early to talk about further growth.

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