Don’t Throw the Crypto Tokens Out With the Bathwater

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ___________ A year into the crypto market meltdown, we’ve gone from one extreme to the other. Where investors and commentators were once consumed with the naïve belief that ICO-funded startups would quickly usher in a new token-driven decentralized economy and unlock untold wealth, we’re now at a point where any idea…

Tron Price Analysis: TRX Print Higher, ERC-20 Tokens Now “Artifacts”?

Latest Tron News By destroying an additional 182 million TRX ERC-201 tokens, Justin Sun is confirming his distaste of ERC-20 tokens. Back in November 2018 when he announced on Twitter that the platform has burnt $800 million worth of ERC-20 tokens, he let the whole know of his sentiment although Ethereum was where Tron steadied before launching their own blockchain, virtual machine and even tokens—TRC-10 and 20 tokens. I just burned 800 million USD worth $TRX ERC20 tokens. $TRX ERC20 tokens will soon become historical artifacts😋 Don’t forget to keep…

Crypto Market Continues Slow Bleed Out But Tokens Record 20% Gains

Twitter Facebook LinkedIn Over the past 24 hours, the crypto market has lost about $4 billion of its valuation against the US dollar. Major cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ripple (XRP) extended their losses by 2 to 8 percent. The price of BCH dropped from $236 to $215, by nearly nine percent. In the last two to three hours, BCH, BTC, ETH, and XRP demonstrated a slight recovery in both volume and price, but the momentum of the entire market remains a concern to short-term…

Major Exchanges Are Already Distributing New Bitcoin Cash Tokens

After yesterday’s split of the bitcoin cash blockchain, several top exchanges have already accommodated the resulting two tokens. While the scheduled hard fork was originally intended as an upgrade to the network, the long-standard Bitcoin ABC version found itself with a rival network and token, Bitcoin SV, after it managed to garner enough support from miners. Taking place at around 18:00 UTC Thursday, the event soon saw both networks producing new blocks, though Bitcoin ABC took an early lead. At press time, ABC has mined 34 blocks more than SV and…

Tokens Continue to Drop, is SEC Preparing to go After Crypto Projects?

Twitter Facebook LinkedIn The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the US dollar over the past several days. Waltonchain, Lisk, ICON, Ontology, Golem, VeChain, WanChain, and many other tokens backed by active developer and investor communities declined substantially in…

Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

Twitter Facebook LinkedIn After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million. Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a…

EOS Rises 5% as Tokens Record Big Gains, Crypto Market Adds $2 Billion

Twitter Facebook Tokens and several major cryptocurrencies such as EOS have demonstrated strong short-term momentum over the last 24 hours, pushing the valuation of the crypto market to $206 billion. The volume of Bitcoin, which declined to the mid-$3 billion region, recovered to $4.2 billion, showing a clear increase in trading activity across major cryptocurrency exchanges. Affected by the increase in the volume of Bitcoin, tokens and digital assets such as Loom, Status, Bancor, WaltonChain, Pundi X, OmiseGo, and Zcash recorded gains in the range of 8 to 20 percent,…

86% of ICO Tokens Worth Less than at First Crypto Exchange Listing

Global professional services firm Ernst & Young (EY) has released a report on the performance of ICOs over the last year, and in keeping with the bear market for cryptocurrency assets, the trend was predictably downward. Just 10 Tokens Count for 99% of All ICO Gains EY released a report on ICOs back in December 2017, which included a total of 372 projects. Within those projects were 110 standout ICOs that accounted for 87 percent of all funds raised among all projects analyzed. They dubbed this collection of more successful projects…

This Meme Marketplace Uses Dummy Tokens to Draw Users in a Bear Market

Memes are a pretty important part of the crypto ecosystem – how else would crypto visionaries display their wit and sometimes passive aggressivity? It’s no wonder then that District0x’s Meme Factory is seeing quite the buzz. Not only did District0x raise $9 million in an initial coin offering last year, backed by Boost VC and CoinFund, to name a few, but holders of the ERC-20-based native token, DNT, are already making decisions about the project’s future. And that’s perhaps surprising since the application isn’t exactly live yet. Instead, holders of DNT…

70% of Small-Cap Cryptocurrency Tokens Worth Less than ICO Raised

More than two-thirds of small-cap cryptocurrency tokens distributed through initial coin offerings (ICOs) are currently worth less than the startups that issued them raised through their crowdfunding sales, a newly-published report has found. Small-Cap ICO Tokens are Hemorrhaging Value According to the report, which was compiled by cryptocurrency research firm Diar, the 562 ICO tokens ranked outside of the 100 largest cryptocurrency market caps have collectively lost $5 billion in nominal value against what these sales raised for the funding teams, with 70 percent of individual tokens seeing losses. Remarkably,…