Cryptocurrencies Standing Out in the Bear Crypto Market…The Key is ‘Content’
Cryptocurrencies, such as Bitcoin and Ethereum, are showing a downward trend. Bitcoin, whose price was above 10M KRW on May, has fallen to 7M KRW. Similarly, the price of Ethereum was around 700–800K KRW, but has dropped to 200K KRW during the same period. Most other cryptocurrencies are no exceptions in downfall of the price.
However, even in the bear market, there are notable cryptocurrencies performing well. They are all expected to be used in the contents-related industry.
Cosmo Coin, showing an upward trend despite the bear market
On September 11, according to CPDAX, a South Korean cryptocurrency exchange, the price of Cosmo Coin was around 30 KRW in late August, but is 50 KRW now. It is noteworthy that Cosmo Coin keeps surging in early September while other cryptocurrencies are falling.
Cosmo Coin is a crypto issued by Cosmochain. It is given out as a reward for contributing to a beauty app ‘COSMEE’ which is under test from last month by posting, commenting, and up/downvoting. Investors are showing positive reactions to Cosmo Coin since it can be used in real-life service.
Meanwhile, Cosmo Chain is well known as a company invested by major Korean Internet company, Kakao. Specifically, it was Invested by Kakao Investment, an investment subsidiary of Kakao. In addition to Kakao, major investment companies such as Hashed and Neoply executed investment in Cosmo Chain, which attracted attention
GXC, having a successful ICO pre-sale in an hour
Suggesting a vision to introduce blockchain technology into the game industry, Blockchain Ventures’ GameXCoin is also outperforming in the bear market. On September 10th, there was ICO pre-sale and the supply of the first round was all sold out in an hour.
There are several major factors of GameXCoin’s successful ICO sale. Firstly, the company has a team of outstanding manpower, including a representative with more than 20 years of development experience and a developer belonging to SNU’s Block Chain Society (DeCypher). It also has advisors such as Kang-seok Kim, the co-founder of Bluehole famous for PlayerUnknown’s Battlegrounds, Kwan-ho Choi, the former president of Korea Game Industry Association, and blockchain investor Will O’Brien. Having more than 10 game partners such as Neowiz Bless and XL Games, it has excellent technology and business competitiveness. In addition, the company actually released three blockchain-based games for testing.
LINK, raising BITBOX’s rank
There is much attention to LINK, LINE’s cryptocurrency. Naver’s Japanese subsidiary, LINE, is developing a blockchain platform called, ‘LINK Chain’ and issued ‘LINK’ that can be rewarded for using services running on this platform.
‘LINK’ can be obtained from the LINE ‘s exchange ‘BITBOX’. ‘BITBOX’ has risen to the fifth place in the global exchange market, which was out of the top 100 thanks to LINK. The value of the LINK is expected to rise even further if LINE offers a variety of services.
An industry expert said, “The key point of cryptocurrencies, which are attracting the attention of users in the bear market, is that they have shown the possibility of being used in the contents-related field.”
He also added, “Investors are also paying attention to the potential of cryptocurrency that is applicable to real-life.”
— by Jun Heo (The financial news, firstname.lastname@example.org)
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