Coins to Watch 01/08/18 - 01/14/18
NEO (NEO)
NEO is a Chinese cryptocurrency that was originally known as AntShares before undergoing a rebranding exercise in 2017 and emerging as NEO. It has often been described as the Ethereum of China because NEO operates in a similar manner, allowing smart contracts to be delivered via its blockchain.
Neo is starting to live up to its nickname and has recently embarked on a period of activity on its blockchain that sees it playing host to a whole number of ICOs. Projects such as Aphelion, Qlink, and DeepBrain have all chosen to conduct their ICOs via the NEO platform and current projects such as The Key, Ontology, and Elastos are also poised to follow suit.
There are currently at least 20 projects all lined up to conduct their ICOs on the NEO platform and a common theme between these projects is their acceptance of NEO as a method of contribution. Red Pulse that launched on the NEO platform in October required its ICO participants to purchase NEO, as did Aphelion. Even though projects such as Elastos and The Key may also accept BTC and ETH, a rise in the amount of NEO purchased over the seven days is to be expected. The Neo team are also hosting meet ups in cities such as Dublin, Hamburg, and London over the week and any significant news releases will also result in some positive price action.
Neo is currently trading at a price of around $103.
Substratum (SUB)
Substratum is an open-source network that allows anyone to allocate their spare computing resources in order to participate in a decentralized web. The Substratum network is a worldwide collection of nodes that uses cryptography to provide secure internet access and content without the need for Tor or a VPN. With the recent reverse of net neutrality legislation in the USA, Substratum has increased in importance with a significant number of crypto enthusiasts looking to invest in the project for the long term.
Substratum is one of the more highly anticipated projects in the space with many analysts aware of the projects potential to revolutionize the way we access the web. The Substratum project also offers network participants various incentives for running nodes on the system and users committed to being part of the SUB network will be keen to add to their SUB hoardings over the next week.
The Substratum team is ready to launch a beta version of their platform on January 15 and we can expect a significant increase in trading activity of the SUB token leading up to this event. SUB enthusiasts have a full week to pre-empt the launch in mid-January.
Dogecoin (DOGE)
Dogecoin is a cryptocurrency that was born out of a Japanese dog meme that took the world by storm in 2013. The coin was introduced as a joke initially in December 2013 and included an image of the Doge meme as its logo. The currency nevertheless took off and developed a significant and passionate online community. It even got featured on The Daily Show with Trevor Noah.
Most investors do not take Dogecoin very seriously, and it is mainly used for tipping or performing other micro-transactions. Dogecoin is a popular choice for crypto enthusiast involved in more lighthearted activities and it is in keeping with one of the market’s current trends.
At the moment, “low priced” coins with high supply quantities are proving popular with new entrants to the market as they look for value outside of coins such as Bitcoin, Ethereum, Dash, and Litecoin. Dogecoin fits the bill with its supply of over 112 billion coins and a price that circulates around the 1-cent mark. As new entrants continue to flood the market, keep an eye on Dogecoin as it looks to maintain its position as one of the most established low-cost coins on the market.
DOGE is currently trading at a price of around $0.016.