Top Altcoins for 2019
Altcoins can be considered to be potentially an upgraded version of Bitcoin but only in the technological sense. Bitcoin has earned the #1 spot by attempting to break the mold & standing the test of time. Being in the nascent, altcoins still have tremendous room for growth which will lead to an unprecedented rise in their value over time. This fact makes altcoins a goldmine for investors. The year 2019 witnessed many altcoins coming to the forefront with CoinMarketCap showing around 2000 listed cryptocurrencies. With the amount of options we have available to us, it can be quite overwhelming to figure out which ones are worth investing in. I’ve identified four different cryptocurrencies that I think have the potential to be winners in the long term.
1. Icon (ICX)
Icon is a decentralized application (dApp) which acts as an intermediary between various blockchains and their respective applications. Loopchain is the technology that lies at the core of Icon. It’s a blockchain built to communicate with other blockchains and provide real-time exchange of data. Due to its innovative technology, developers can serve the users and the industry simultaneously, as it connects blockchain networks together.
It has managed to become a part of various partnerships, one of which is Line, one of Japan’s largest social media app. It will help more than 200 million Line users to interact with the blockchain through Unchain, a project undertaken by Icon. Samsung has also been working alongside Icon to develop a new identity management software, Samsung Pass. TRIVE, a programming school in South-east Asia, has created a program which focuses on Icon. DAYLI has been par tnering with Icon to help establish optimal distribution policies using artificial intelligence.
The world’s first blockchain-based authentication system, ChainID is based on Icon’s Loopchain. It helps you generate passive income as ICX token holders are rewarded when they stake their tokens, thanks to the proof of stake algorithm that runs on Icon.
Icon has had a long fall as many other cryptocurrencies have suffered the same fate,. We are currently sitting at a critical level. What was once support could turn into resistance if we break through. This could either be good news or bad news depending on which side of the fence you’re on. Are you waiting to buy or are you holding a bag?
There are two current scenarios:
Scenario 1: We create a bottoming pattern by creating a range in this green zone.
Scenario 2: We break the bottom and from there we’ll have to let the price action just show us the way. There is no more price action in the past to show us where there will be support.
2. Stellar Lumens (XLM)
Stellar XLM was developed and operated by Stellar.org with the primary purpose of helping financial institutions and unbanked countries perform international transfers via the XLM network. It is a decentralized network that uses its native tokens (lumens) as an intermediary between different currencies.
XML Lumens can be used to perform inter-currency transactions, as well as international transactions using ‘anchors.’ An anchor is an intermediary between the XLM network and an established currency. Thus, a client can directly perform an exchange on XLM network after depositing their money to these anchors, which in turn issue tradable credits.
Anchors perform two tasks:
- They accept your deposit and issue the credit to the account address on the Stellar ledger.
- They allow you to make a withdrawal by giving them the credit they issued you.
Anchors exist in the real world but they go by different names. There’s Paypal for instance, you deposit money from your bank account & then Paypal gives your Paypal account credit. Anyone that trusts Paypal is now able to accept your credit and is able to convert it into USD using Paypal by withdrawing it to a bank.
That’s basically what an anchor is, except on the Stellar network all the anchors can transact with each other and exchange credits with each other making this system much more versatile.
It has managed to enter into partnerships with Tempo, a major remittance provider in France with services in over 43 countries, Coins.ph in South-east Asia and Ripple Fox in China. This allowed the partners to acts as anchors for XLM. It is also a known fact that IBM has been developing enterprise-level products on the XLM network since 2017.
Stellar is currently in a downtrend & although it hasn’t fallen as far as ICX it clearly has more room to go. I see two different spots we could possibly bottom at.
Line 1: We have some weak support showing at around 1350-1400 sats, this doesn’t look like strong support but is a place we could see some relief.
Line 2: There is very clear support at the 700-750 sat range but that’s another 50% price cut from where we’re at. It’s very possible that we go down there, I don’t believe that we have seen the worst to come.
Theta is a token which focuses on incorporating video streaming with blockchain. It will work towards the development of solutions to address issues related to buffering, bandwidth utilization and storage. Using the ideal bandwidth and resources of users, it is likely to improve the quality of streaming services.
It has entered into various crucial partnerships, such as one with Twitch. You can earn Theta tokens by sharing your bandwidth with other users. Apart from Twitch, it has also partnered with Steam, a popular video game provider and Aelf, a blockchain-based cloud computing company. They are also in partnership with Key Labs, a startup accelerator. Theta is now live on its native platform, Sliver.tv. Simply by being a viewer you’re able to earn T-fuel tokens every 10 minutes which you can exchange for USD at their shop.
The gaming industry reportedly earned a staggering $108.9 billion dollars in the year of 2017. It’s projected to grow to $128.5 billion by the year 2020. We’re definitely early to the blockchain gaming stage, but Theta is setting itself up for success by being a first mover to the space.
If you’re interested in understanding the T-fuel token. Check out their frequently asked questions on their website :
Theta had a very good run in 2019, gaining around 300% in a span of 3 months. Since then it has given back most of its gains. There’s no special technical analysis that needs to be done on this one. It seems as though THETA is heading back to support, the yellow line where it held most of it’s price action for 152 days. If we break past that support line things could get ugly.
Chainlink is a network which provides inputs and outputs essential for the execution of smart contracts on any blockchain network. Using Chainlink allows users to handle multiple inputs and outputs easily on the network. These multiple inputs and outputs help to improve contractual performance and complete the smart contract. A basic but crucial function that LINK plays today is that it aims to bridge the gap between smart contracts on the blockchain & applications in the real world.
We currently have most of applications built on centralized systems, LINK is able to use “oracles” which find & verify real-world data and migrate it to the chain to be implemented into smart contracts.
It recently announced on Twitter, that it is entering into a partnership with Synthetix, which will allow Synthetix to use Chainlink for decentralizing its price feeds. It has also partnered with Bodhi and Naka Chain which will use Chainlink for helping the development of dApps. A large number of organizations like Katallassos, STK, Mobilum, Kaiko, Wanchain, Kaleido, bZx, etc have entered into a collaboration with Chainlink within a short span of time, thanks to its reliable data input and output mechanisms. Apart from these, Chainlink has also acquired Town Crier.
ChainLink is the one of the two cryptocurrencies mentioned in this article to have performed positively in 2018. It broke its all time high in January of 2019 which is a positive sign. Since then it has retraced 50%, while we could see a bounce here it doesn’t look like a possible bottom. At the time of this article we are currently sitting at 9533 sats, if we use the fibonnaci tool we can see that the .786 puts us at around the 6000 range. The chart looks supportive around that range and is most likely where we’ll end up if we see capitulation hit the market, I do consider 6000 sats to be a optimistic target.
Due to the fact that these altcoins are working in different domains related to blockchain, they all form a part of the ‘Top Altcoins In 2019’ list. If you’re an investor facing questions like what altcoin should I buy? You must definitely consider these altcoins as they are working steadily towards their growth and development in various uncharted territories. As an investor, such growing assets offer great potential to generate profits. The lower they go, the better the opportunity we have to make the investment of a lifetime.
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