Qtum (QTUM) is one of the most advanced smart contracts platforms in the market right now. It is designed to create an interface that makes it easy for corporates to interact with blockchain technology. It is this fundamental strength of this platform that has anchored the value of Qtum coin up to this point. But this coin just got an additional boost to its value by getting an added on Shapeshift. A few hours ago, Qtum announced on Twitter that is it now on Shapeshift, one of the most efficient crypto exchanges in the world. Why do I say the most efficient? Well, you just need to look at its business model then you will understand.
For one, Shapeshift doesn’t require users to open accounts for them to transact. You just key in the coins you want to buy, give the address and that’s it! You can exchange your coins for any of the coins that are listed on this platform. This eliminates the security risks that face many exchanges that store customer information in centralized servers.
So how will this have an impact on the value of Qtum (QTUM)? For starters, it is likely to see an increase in the price of this coin in the near-term. That’s because it will increase the liquidity of this coin significantly, since Shapeshift is a relatively high transaction volumes exchange. This increased liquidity is likely to increase in volumes of Qtum coins traded, and with that price will rise. Remember the crypto market is in bearish territory right now, and trading volumes are relatively low for all coins. As such, any move that increases the volumes traded are guaranteed to have an effect on the price action.
But the shapeshift deal is not the only good news surrounding Qtum. In a few hours, the Qtum team will be holding a conference in San Francisco. They will be there to discuss Dapps with some of the decentralized applications that run on the Qtum smart contracts platform. If past conferences by different coins is anything to go by, then it would be safe to conclude that Qtum will see some exciting price action in the next few hours.
That conclusion is not just based on past analysis of other conferences, it is also based on the fact that the market right now is yearning for good news. The entire market is in bearish territory and many investors, especially those came in, in late 2017 are disillusioned, and want some positivity. As such, any good news is likely to ignite some interest from the market, and in this case, Qtum is in the middle of some good news.
Of course, that’s not forgetting to the fact that the Qtum (QTUM) just recently had a meeting with Chinese regulators, in a bid to work out modalities on how to implement blockchain solutions that are in compliance with the law.
This is definitely one of the best coins to watch right now. It has the potential for some great short-term upswing. Though even from a long-term perspective, this is a coin worth buying.