We are almost midway through the third quarter of 2018, which means, there are less than five months to the end of the year. The first two quarters of the year witnessed falling prices in the cryptocurrency market. Attempts to recover have often met a selloff affecting most of the digital assets in the market. Industry experts like Thomas Lee of Fundstrat have predicted that Bitcoin will lead the market in a rally before the end of the year. The expert expects Bitcoin to retrace above $20,000 while other coins and altcoins will experience a spike in their prices as well. For this reason, I will dive into a couple of coins that have the potential to recover and record new highs before the end of the year.
Syscoin is one of the fastest growing digital assets in the crypto market. It functions as a blockchain development platform as well as a cryptocurrency. Its token, Syscoin (SYS) has a number of utilities. For instance, it can be used as a tradable instrument on cryptocurrency exchanges, pay for purchases made on the platform and enable the creation of tokens that users can trade with on various exchanges.
It prides itself as the first cryptocurrency to come with a decentralized marketplace. The platform allows users to buy and sell anything from anywhere around the world. Moreover, the marketplace eliminates the need for middlemen, credit card fees, and other interferences.
Syscoin allows users to create both non-divisible tokens and divisible tokens on its platform. The non-divisible tokens become a representation of tangible items of value like a bar of gold while divisible tokens, on the other hand, represents services that last for hours, other commodities or even a portion of an entity like a company.
At the time of writing Syscoin is trading at $0.135, although at the beginning of 2018, the token exchanged hands marginally below $1.00. The price has been dropping and is currently trading the lows in October 2017. It is important to realize that the drop has been widespread across the market and is not unique to Syscoin. The crypto has a market capitalization of $73 million and is ranked 103rd according to CoinMarketCap.
The network launched its highly esteemed marketplace and is currently working on strategic partnerships that will allow it to increase its influence in the market while speeding up the adoption of Syscoin as the preferred payment system. It is backed by the decentralized marketplace and its utilities are clear, meaning adoption will not be difficult to achieve.
This is a crypto platform that was introduced to redefine and revolutionize lending and borrowing funds in the 21st century. It strives to give the power back to the lenders and borrowers on a peer-to-peer network. Elixir eliminates the need to have middlemen when seeking funds. Moreover, there are no hidden fees and every process is encrypted on the blockchain. The Elixir website details:
“With decentralized crowdfunding, users can create and support projects and know exactly where their funds are going. Use your crypto for something awesome.” In addition to the ELIX “provides an easy to use interface for interacting with the blockchain. Get the benefits of using revolutionary blockchain technology without the hassle.”
The platform has been developed on Ethereum blockchain and has the capability of leveraging the power of smart contracts development. The transactions on Elixir are transparent, immutable as well as secure.
One of the most interesting aspects of this cryptocurrency is that it is mined through time. No need for powerful machines and complicated computational power to get tokens. ELIX tokens are currently traded on KuCoin, CoinExchange and EtherDelta exchange. According to the data on Elixir website, it has a maximum supply of 110,258,199 ELIX coins while only 32,012,633 ELIX are in circulation. At the time of writing ELIX/USD is trading at $0.147 and is up over 12% in the last 24 hours.