Each week cryptocurrency traders and investors eagerly analyze the calendar to see which events in the upcoming few days will provide the biggest shifts in momentum for specific altcoins. This week has four altcoins with major events: IOST, XES, KMD, and PRL.
State of the Market
What goes up must come down, and what goes down will eventually go back up. Markets have trends and these trends are amplified by volatility. For those invested in the cryptocurrency space, it has long been known that the volatility is extreme. What has also been known is that bull and bear trends flip with almost no warning.
This week has multiple altcoins and cryptocurrencies that provide both publicity and positive sentiment through the release of news and meeting of deadlines. When roadmap deadlines are hit, presentations take place, and utility has increased the value of the underlying asset tends to increase in value in comparison to BTC and other altcoins. This week has four unique coins all with major events coming up: IOST, XES, KMD, and PRL.
Oyster (PRL) Snapshot of PRL and Airdrop of SHL
The market correction has slowed down almost everything in crypto. Fewer people are trading, exchanging, and actively using their crypto. This results in slower block heights as not as many transactions are taking place today as two months ago. The PRL airdrop of SHL tokens is still taking place and has not been delayed. This airdrop is taking place at block height 5,436,000 which will likely take place April 13, 2018, around 12 pm EST.
PRL holders have been waiting for the SHL airdrop for a significant period of time and this date is approaching quickly. A positive piece of news from the prior week, PRL announced the exchange that they are predominantly traded will facilitate and support the airdrop. This means PRL holders will not have to transfer their PRL to an off-exchange wallet (unless they want to) to receive the SHL tokens.
PRL has figured out a way to let visitors to websites help support the PRL blockchain by providing back-end confirmations on transactions. This allows web hosts to theoretically remove all advertisements provide a ‘clean’ looking site. Even with the ‘clean’ site the web host still profits as they are provided PRL tokens based on how many web visitors they have. The more visitors the more back-end transactions that can be confirmed by the visitors to the web host’s site. PRL intends to revolutionize the way in which web hosts earn a living while streamlining the ease of use of websites so they are not cluttered with advertisements.
The SHL token is intended to support a new age internet with no centralization. These ambitions are beyond large. Will they be accomplishable on the blockchain? The crypto community will soon find out, but what is certain is that if PRL and SHL accomplish a fraction of what they promise they will provide major changes to the internet and web hosting. The larger the ambitions the less likely they are to be achieved but it is very positive to see PRL continue to strive to accomplish such important milestones.
IOST (Starts Open-Source on GitHub)
IOST has a market cap of $ 225 million with a coin value of $ .026. IOS stands for Internet of Services. This coin is designed to provide high caliber infrastructure for online service providers. This innovative altcoin comes with a secure blockchain that provides unmatched horizontal scalability. Having completed their ICO in January of 2018 this coin has only been in existence for a few months. This demonstrates that in only a few months’ time IOST was able to solidify their position in the crypto space with a market cap of over $ 200 million and the ability to release their code, open-source on GitHub.
Most cryptocurrencies keep their source code and platform fairly secretive until well after the ICO and launch of the coin. This is because once the source code is available other developers can easily copy and fine tune the code to create their own coin. When a cryptocurrency transitions to open-source on GitHub they are signaling they are ready for the world to view their source code while also allowing other developers to work on the project at their leisure. IOST releasing becoming open-source on GitHub is a very big milestone that should not go unnoticed.
IOST seems poised to continue their climb higher in value once developers from around the world are able to view their source code and fine tune it. If the crypto community views the code and deems it invaluable or a knockoff, IOST may have a major correction in value. With the GitHub open-source occurring on April 9, 2018, this date should be highlighted to watch for major price movement.
Proxeus (XES’s Announcement Regarding Digital Switzerland)
Proxeus (XES) has an announcement this week regarding the results of Digital Switzerland which was a competition held by XES in collaboration with IBM and Swisscom. XES is yet to be listed on any major exchanges having recently completed their ICO and still in the process of releasing coins. For a token coming out of the ICO period into its infancy, it is a very positive sign to see them partnered with such major companies as Swisscom and IBM.
As XES cannot be traded or accumulated until after it arrives on exchanges this is solely a token to look out for in the future. XES has an announcement on April 9, 2018, regarding the results of the Digital Switzerland Challenge by Proxeus, in collaboration with IBM and Swisscom. This date should provide both a catalyst for publicity and relevance for the XES altcoin. Whether or not it will dramatically impact the price is yet to be seen and may be difficult to tell because exchanges currently are not trading XES and their price is not available on the common crypto pricing sites.
Komodo (KMD, Utrum.io ICO and BlocNATION airdrop for KMD)
This week provides two huge catalysts for Komodo (KMD). The first major event is the Utrum.io ICO which is a decentralized ICO being held on the Komodo platform. Almost immediately following this event KMD holders will receive an airdrop of BlocNATION.
With two major events, both of which should provide positive publicity and increase market sentiment toward KMD. A decentralized ICO is where it seems the ICO market will continue to evolve into especially with further regulatory agencies beginning to investigate suspicious practices. A decentralized ICO and a major airdrop should provide a boost to KMD in the short term and at a bare minimum increase market sentiment surrounding it.
KMD is currently trading at $ 2.43 per coin with a market cap o $ 252 million. December 21, 2017, KMD was trading at over $ 12.89 per coin. The last few month’s market correction has forced KMD’s price down more than 80 percent. With very positive events occurring in the next week and a price that has tumbled more than 80 percent since its all-time high, KMD may be an interesting option to consider prior to their airdrop and ICO.
The Komodo blockchain platform uses KMD’s open-source cryptocurrency for doing transparent, anonymous private, and fungible transactions. A Delayed Proof of Work protocol then makes them ultra-secure by using Bitcoin’s blockchain. The SuperNET ecosystem also uses KMD as their official cryptocurrency. SuperNET is a decentralized organization that develops open-source and decentralized tools for crypto markets.
These tools can include anything form decentralized exchanges to multi-coin wallets. KMD has many projects they are working on including a decentralized exchange, BarterDex, that uses atomic swaps to get passed the pegging of assets to enable exchanging of coins. dICO (decentralized ICO) is a decentralized platform allowing for the token sale of ICOs using a model powered by atomic swap technologies. This allows for the total decentralized and anonymous issuance and distribution of cryptos using the dICO model. KMD clearly has very advanced privacy technologies they are implanting in the ICO realm and via exchange platforms.
With the launch of Utrum.io on the dICO token platform occurring on April 10, 2018, followed by an airdrop later that day of KMD’s first decentralized ICO BlockNATION; KMD should have a positive week. The markets have been in a negative bearish trend for multiple months but it is likely coins with such important events as KMD will buck that trend.
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).
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