The week beginning May 28 is an exciting one as it is in the period post Consensus but pre-summer announcements. The market has remained stagnant with many altcoins solely riding waves of hype and news higher. As crypto traders intend to remain one step ahead look for them to focus on cryptocurrencies like; ZCL, ANON, EOS, and ONT heading into June.
The Upcoming Week
May 26 through June 2 has multiple exciting deadlines quickly approaching. EOS and ONT have mainnet launches in the next seven days. ZCL has news on multiple fronts stemming from the recently announced Anonymous Bitcoin (“ANON”) fork and a new development team wanting to take over ZCL entirely. Bitcoin (BTC) itself has an important week ahead as volume and price have both dipped since Consensus with the dual sets of Cboe futures expiring last week.
Consensus is usually when the ‘big’ news and events occur, but with an underwhelming Consensus this year, it should be expected important events continue to transpire this summer. EOS and ONT announced their mainnet launches months ago. Usually news of this magnitude a cryptocurrency wants to have while the markets are strong and bullish.
The markets may seem reluctant to trend North, but the OTC (over the counter transactions) pressure remains very high on the buy side with almost no price movement in bitcoin. The original team behind ZCL has moved on to other projects but that has not stopped the community from fully embracing ZCL, and now two dev teams are competing for the rights to ZCL’s social media, while three teams (or more) continue its development.
ONT and EOS have a mainnet release which is one of the most important features of a cryptocurrency. ZCL has news related to both their ANON fork (whitepaper release and advisor announcement) while BTC will be tested, will it trend back toward $10,000 or continue to correct below $7,000?
ZClassic and Anonymous Bitcoin (ZCL & ANON)
This week has exciting developments for ZCL and ANON. Less than a month ago the ZCL Twitter commented that ZCL no longer had dev support. A significant turn of events the last month has resulted in multiple dev teams competing for the rights to ZCL’s social media channels with many committed devs eager to take on a new project.
Two reputable development teams ZClassicCE and ZClassicBlue have both begun working on ZCL, are collaborating with the community, and have the community’s interest in mind in both the short and long term.
Beyond ZCL having multiple teams working on their core code, another team, Anonymous Bitcoin, has proceeded with a masternode specific privacy fork of ZCL and BTC.
The only way to attain this 1:1 fork is to hold either ZCL or BTC at the day of the snapshot (September 15, 2018).
Following the snapshot ZCL holders and BTC holders will receive a 1:1 ratio of ANON. Currently, the ANON team is traveling Europe’s blockchain conferences spreading awareness about the project and building a network across the globe. The Anonymous Bitcoin team has promised translations to multiple languages (German already complete), the whitepaper release by June 1 along with a significant advisor addition. They are currently traveling Europe for important blockchain conferences abroad just as the website translations are coming to fruition.
ANON intends to be the first transparent fork in cryptocurrency history releasing both their whitepaper, a translated website, plans for a conference tour of Europe, Asia and the U.S., and a surprise advisor this week. A new fork plus multiple development teams eagerly working to make ZCL ASIC resistant again make ZCL an exciting coin to watch the last week of May and for the remainder of Summer. An interesting update from the lead devs is that they are actually ahead of schedule and considering moving up the timeline and fork date (likely the first time a development event has been expedited instead of delayed).
Mainnets This Week: Ontology (ONT) and EOS
Mainnets and testnets are required by many of the top exchanges prior to listing taking place. Ontology and EOS both have their mainnet release in the next ten days. EOS and Ontology have been two of the more discussed cryptos this year. ONT is trading at $6.67 with a market cap of $820 million. EOS has a value per coin of $12.81 with a market cap of over $11 billion. Both EOS and ONT have enjoyed nice increases in value leading up to these very important dates.
EOS has more than doubled its market cap in the prior three months having gone from a cryptocurrency with a market cap of $5 billion, March 8, to over $11 billion, May 27. This is likely caused by the market rebound from February lows coupled with individuals eagerly flocking to a highly publicized cryptocurrency with a mainnet launch. EOS takes horizontal and vertical scaling of blockchain solutions to the next level.
The issues Ethereum has each time a Dapp becomes too popular EOS promises to solve. Their mainnet launch this week is the first real challenge in determining if years from now they will still be a relevant cryptocurrency. This is the week EOS converts from the ERC-20 platform to their own EOS blockchain. If completed successfully EOS should continue their trend North, if there are hiccups, expect an EOS correction.
Ontology’s (“ONT”) first round of projects are live on GitHub while, similarly, they have a mainnet launching shortly. Ontology is a high-performance blockchain project and a distributed trust collaboration platform. They are able to accomplish this by providing high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.
The ONT blockchain framework supports public blockchain systems and can customize different blockchains for different applications. ONT is able to customize blockchains based on the niche the individual is looking to target. ONT has a nice increase in value leading up to their mainnet release. From March 8 to May 26 ONT increased more than 350 percent in value. It is likely ONT is successful in launching their mainnet, but any delays could be very costly.
The market remains bullish on cryptos that have upcoming mainnet and testnet releases with ONT and EOS having theirs in the next ten days.
Major events such as whitepaper releases, advisor additions and mainnet launches all provide catalysts for cryptocurrencies to increase their communities. When communities increase, confidence increases and if the code and blockchain architecture is there the utility increases.
The four cryptocurrencies mentioned above all have major weeks and months ahead and should be monitored closely for price fluctuations. The market may seem bearish, but with OTC pressure on the buy side with very few sellers it seems the market as a whole is becoming a coiled spring ready to pop.
To read the Crypto King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the Crypto King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
The above publication does not constitute as investment advice, and it is recommended each individual conduct their own research. The author of this article owns but does not trade the cryptocurrencies mentioned above.