Market data as of 10:47am, 24 May 2018.
Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.
Price: $23.97 to $33.39 (▲39.30%)
Volume: $1,538,390 to $7,685,040 (▲399.55%)
Cap: $216,154,462 to $300,446,162 (▲38.99%)
It should come as no surprise by now that any coin that newly lists on Binance will see a surge in trading volume and price. SKY is no different as Binance announced the listing of it just yesterday. The trading volume of the coin has shot up by almost 4x instantly. The Skycoin team has been rolling out announcements that have proven to be very favourable for investors, including the launch of their Skywire test net just days ago.
Similar to Zencash that we covered yesterday, those of you who have yet to get your bags of SKY should be wary of FOMOing and getting in on the highs. Remember that previous holders of the coin will be eager to take this opportunity to lock in their profits. ZEN, for example, has already fallen over 20% in price since we covered it yesterday.
Price: $1.15 to $1.25 (▲8.29%)
Volume: $14,113,500 to $117,103,000 (▲729.72%)
Cap: $607,621,378 to $661,637,674 (▲8.89%)
The sharp rise in interest in the 0x project is a result of Coinbase announcing their acquisition of 0x-based decentralized exchange, Paradex. The news comes just hours ago as the decentralized exchange announced a temporary shutdown as it works to integrate itself with Coinbase. As Paradex is built on top of the 0x platform, investors have swarmed to get a hold of ZRX in anticipation of possible 0x and Coinbase links.
While the news has been very bullish for believers of the decentralized exchange economy, it remains to be seen whether the rise in price of ZRX can hold as it is already facing some rejection at the levels of its all-time high.
Basic Attention Token (BAT)
Price: $0.301191 to $0.317727 (▲5.49%)
Volume: $3,155,780 to $6,406,120 (▲102.99%)
Cap: $301,007,000 to $317,727,000 (▲5.55%)
The rise in price of BAT comes in as more and more people are downloading their patented Brave Browser. A few days ago, it was revealed that the Brave Browser just crossed 5 million downloads in Google Play, indicating the prominence of a use case for their token holders.
Additionally, the news of Coinbase acquiring Paradex and renaming their GDAX exchange to Coinbase Pro has positive spillover effects to the prominent ERC20 tokens in the market. It is likely that in the near future that Coinbase Pro might list these ERC20 tokens as well.
BAT is expected to be a token that will continue to hold value since its unique use case has already been proven.
Price: $0.301191 to $3.09 (▲4.56%)
Volume: $11,003,800 to $18,665,700 (▲102.99%)
Cap: $760,753,485 to $791,943,359 (▲5.55%)
STEEM is a Smart Media Token (SMT) used on the Steemit social network, for users to monetize digital content. STEEM has been used to pay out rewards to users and it is stated on their website that over $40 Million in rewards have been paid out.
The price movement of STEEM indicates a growing interest in the smart media ecosystem and could mean good things for other SMTs that may be tokenised on the Steem platform.
(Market data source: CoinMarketCap)