This week has been very exciting with altcoins and bitcoin building momentum for a shift in market sentiment and crypto value. December until early April saw one of the largest corrections in Bitcoin’s history and the upcoming few months should present the perfect opportunity for a rebound of the cryptocurrency space. This week is very important for cryptocurrencies such as: Ripple (XRP), Komodo (KMD), and HireMatch (HIRE).
For the first time in months, the news coming from the crypto space is very positive. FUD seems to have subsided to a significant degree and the rebound from recent lows seems to have already begun. Bitcoin dipped under $7,000 testing the $ 6,000-floor multiple times in the past few weeks.
However, this week BTC has remained strong with very important information coming out of the OTC markets (over the counter), ETFs (exchange-traded fund), and Billionaire’s family offices beginning to trade crypto. Catalysts of this magnitude will propel the entire markets (altcoins and bitcoin) much higher.
However, if the investor is savvy enough they can analyze upcoming market events and try to beat BTC’s returns. During a bull run almost every coin in the crypto space will increase in value, but beating the returns of Bitcoin should be the standard most try to beat. This week has coins like Ripple (XRP), Komodo (KMD), and HireMatch (HIRE).
Ripple (XRP)- BlockBid Listing and Western Union App
Ripple (XRP) is currently trading at $0.64 per coin with a market cap of $25 billion. With a market cap of this magnitude, XRP is regularly a top three cryptocurrency by the total market cap. A major 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 major events that should continue to build momentum behind a crypto that has had a turbulent few months.
BlockBid Exchange is listing XRP and Western Union is releasing their new payment application in the Caribbean and Latin America. The technology behind the app involves Ripple and if the application is well received XRP should appreciate in value. The application’s planned release day is April 18, 2018. Two days prior to the Western Union application XRP has solidified itself as an addition on BlockBid.
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 major exposure to an entirely new continent.
HireMatch (HIRE) – Presentation Week
HireMatch (HIRE) is an altcoin with a $3.5 million market cap and an individual coin value of $3.5. Unfortunately for HIRE, they had their ICO concluding right as the market was correcting which drove the value of the HIRE token South, like the majority of 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 where they are presenting cost in excess of $1200 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. This event is not solely a blockchain based venue. The event is taking place in 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 $3.51 per coin which is over $1.00 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 $360 million which should continue to rise barring any setbacks to the dICO platform.
What makes KMD so unique is the Komodo platform. 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, which uses atomic swaps to get passed the pegging of assets to enable the exchanging of coins instantly. 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.
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.
The Week Ahead
KMD, HIRE, and XRP seem to all have incredibly important events in the next week. With market caps ranging from $3.5 million to almost $30 billion, these altcoins represent coins with small market caps all the way to one of the largest market cap altcoins. Publicity drives demand as it provides exposure to an entirely new population of people that may have been unaware of the existence of a coin like KMD or HIRE.
Publicity coupled with adding utility is why KMD, HIRE, and XRP all should have impressive increased in value this week. With the market continuing to rebound it seems the altcoins with the biggest events on a weekly basis will continue to be highly sought after targets for short-term gains.
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).
Do you agree with the predictions above? What altcoins are you looking at this week? Let us know in the comments below!
Images courtesy of Shutterstock
The post 3 Altcoins Likely to Outperform Bitcoin for the Week of April 16 appeared first on Bitcoinist.com.