If you don’t know that, then you obviously don’t read my blog often enough, what’s wrong with you?
What I WILL do is to give you some amazing suggestions based on coins and tokens which I already hold. I’m about to do just that.
Ah yes! Still my favourite low market cap coin and still ridiculously cheap, CargoX has some more good news for us. Having already succeeded in launching their “Smart B/L” product, CargoX continued to work on their Blockchain Document Transaction System (BDTS). It’s more than just a big name. In their latest move, they have added a “Smart L/C” to the BDTS platform.
An LC is a “Letter of Credit”, a document which plays a vital role in global logistics systems. This little Wikipedia article explains them nicely: https://en.wikipedia.org/wiki/Letter_of_credit.
According to their monthly email, the Smart L/C has been developed, but still requires testing. Once completely tested and integrated, it and the Smart B/L (Bill of Lading) will enable CargoX to make paper documentation in logistics transactions a thing of the past. While the shipping industry that CargoX targets is still slow to embrace change, I believe that it’s just a matter of time before they realise the cost savings to be had by using this platform. I remain extremely bullish on CXO.
Perhaps, I’m not the only one realising this: Since mid-June, the volume of CXO has risen by approximately 3x. Better still: while it was often traded more on CoinTiger than on KuCoin, that relationship has now been completely reversed. KuCoin trades (specifically the CXO/ETH pair) now far outweigh CoinTiger trades. This means that the KuCoin CXO/ETH pair has actually grown in volume by a factor of about 9! (From around $10000/day to $90000/day.) With KuCoin being one of the most trustworthy exchanges out there (according to the recent “reported vs actual volumes” exchanges study by The TIE) this is very good news for CXO!
Which brings us to…
My favourite exchange and the home of KuCoin Shares (KCS) is at it again. I can not believe how much good news is coming from this wonderful exchange!
Yesterday KuCoin launched the public beta of KuMEX, it’s new derivatives platform.
“KuMEX will firstly open the Bitcoin Perpetual Contract (XBTUSDM) which is quoted in USD and denominated in Bitcoin and offers up to 20 times leverage. The platform currently supports three types of order: limit order, market order and stop order. After the official release of KuMEX, the platform will use 50% of the net revenue from KuMEX for KCS Bonus distribution for KCS holders.”
While I am strongly against derivatives trading of crypto, especially with leverage, I realise that not everybody thinks that way. This should be a popular platform that will contribute greatly to the exposure of KuCoin. From the quote above, we can also see that it should have massive benefit for KCS holders.
Of course ever since Binance announced that Binance.com would be shutting down US operations in September, crypto traders have been rushing to find other good exchanges. I immediately noticed the interest grow in Nash Exchange (NEX) and KuCoin. But as of late June, this suddenly really kicked into gear: KuCoin volume has skyrocketed!
But wait, I’m not done with KuCoin yet! They also implemented a new weekly temporary KCS token “Buy Back and Burn Plan” which will run for the duration of Q3 2019. I’m afraid that I don’t have much information on why this has been implemented or what is to replace it in Q4, but it will run in addition to the existing quarterly token burns (which you can track here: https://kcs.kucoin.com). This is more great news for KCS holders – people who already get free KCS dividends paid to them daily! KuCoin state that they will use 10% of profits for token burns and that this Temporary Plan will “substantially increase” the amount of KCS that is burnt. How long have I been telling you to buy KCS now?…
Oh, one last thing: they’ve also launched their Over-The-Counter trading desk.
All of that happened within the first 8 days of July, put off buying KCS at your own peril…
No Bit Brain shill post would be complete without mentioning NEO! As part of my new resolution to keep you more in the loop about NEO happenings, I feel that I should inform you of NEO’s EcoBoost Plan.
Yes, I know that Ford manufactures EcoBoost engines – No, they are not related.
NEO’s EcoBoost plan is a three-phase, $100 million plan designed to:
- Recruit Partners
- Recruit Projects
- In NEO’s words: “further enrich the community, incentivize developers with existing products, and encourage projects to seed even better projects”
- Accelerate the Launch of Projects
You can read more about it here: https://neo.org/blog/details/4158
My bags are shilled, my job is done. Now the decision making is up to you.
I own all these coins in relatively large amounts and I won’t be selling them – even if BTC continues to murder altcoins. Read into that what you will.
Yours in crypto
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
~ Bit Brain