This week I saw the life eventually injected into the crypto space. At the height of major conferences and a Bitcoin correction, this may be a good time to analyze the Altcoin markets. Altcoins fluctuate far more than BTC and most of them consider BTC to be a risky investment. Those dealing with space need to understand the associated risks and make sure they always make their own research. However, with little exploration and understanding of utility and publicity, investors can deal with underestimated assets that can be valued far beyond BTC's returns.
This week there are major events for ZClassic (ZCL), Monero (XMR), Syscoin (SYS) and HIRE. These events range from announcements to very special technological updates. With such an exciting line of events, let's dive into them.
ZCL - (ANONYMOUS BITCOIN)
The Miami-based team, which the journalist of this song is leading, decides to forkZClassic (ZCL) with Bitcoin (BTC), which coincided with a CNBC interview broadcast on April 28, 2019. Most of the forks get little if media coverage . A message covered by CNBC is a clear positive start for a team that many initially doubted.
The last fork of ZCL took it from $ 5.00 to over $ 220. The resulting coin, Bitcoin Private, was provided to all ZCL owners and is currently valued at over $ 40. ZCL tends to react very positively to the forks, which was demonstrated with 40% profit after the announcement of a CNBC interview and a fork message a day earlier. With a new team leading the toll for the ZCL fork and big names behind the project, such as Stephen Nereihoff, the size of the community and market acceptance of the new coin can significantly exceed the previous forks.
ZCL is currently trading at less than $ 30, which is far from reaching $ 220, which reached its previous fork. The price of ZCL is likely to be adjusted upwards and downwards, as the market is trying to predict this value of anonymous Bitcoin. Will masternode technology, the anonymity of zkSNARK, known advisers, journalists and publicists build a strong community and a highly utilized coin? Time will also show, and as the market predicts the value of Anonymous Bitcoin, the value of ZCL will rise and fall.
The new ZCL and BTC fork will add masternodes and zkSNARK technology as it builds a new community and builds a team that will impress most crypto enthusiasts. The code and test network will be released on August 10 with the crossover, which happens one month later. Once the message just arrives, the only way to acquire the new coin, Anonymous Bitcoin, is to buy ZCL or BTC. An anonymous Bitcoin will be provided at a 1: 1 ratio for the ZCL and BTC holders at the date of the photo.
MONERO (XMR) – HARD-FORK
ZCL has a fork in several months , while XMR has this hard fork this week. The likely date of the hard fork is April 30, 2018, but will be held at block height 1564965. The exchange rates now support Monero V (XMV), which is a positive sign for the coin adoption, but the greatest care remains what will be happened with the XMR after the fork?
Most altcoins have a higher value, leading to the date of the fork due to a combination of fear of lack and the expected fork (free coin) granted to all coin holders. However, with the XMR fork already here, the question becomes what will happen to the price post fork. Once the XMR holders have their XMV, XMR probably corrects slightly, as the value of the split coin and the significant expectation is already built into the price. However, at this point of correction, the XMR holders will have received XMV.
XMR is currently trading at $ 250 and is the leading coin of the market cap in the privacy coin sector. Will XMV add benefit to space and how much will degrade XMR post fork?
The risk analysis that needs to be completed will cost XMV more than the correction likely to follow in the cost of XMR for XMV. As XMV already has a list of bonds, their long-term value will be determined by their market acceptance and utility. This week is important to keep an eye on XMR. It may not be a coin that "hits BTC's returns", but it's important to focus on it.