One of the most peculiar things about the crypto market is the uncertainties either driven by speculations or the unavailability of a universally accepted metric system to fetch information on the real-time performance of the crypto market. This, coupled with the unprecedented rate at which developers are creating new cryptocurrencies and capitalizing on the autonomy of exchanges, provides a unique dynamic that punctuates the novelty of the crypto market.
According to Coinmarketcap, there are currently over 5,500 cryptocurrencies, a far cry from the 1,600 coins recorded in August 2018. Although the explosive growth of the crypto market has birthed impressive projects and high-performing cryptocurrencies, there are also numerous cases of undercooked projects using blockchain/crypto hype to plaster over their flaws. As such, participants often have to meticulously carry out research or adopt multiple tools to accurately analyze market trends.
Notwithstanding, the prevailing consensus is that the crypto market is a haven for the crypto community interested in capitalizing on the innovative and competitive minds of crypto developers/entrepreneurs and generating exceptional returns.
Hence, there is no reason to believe that the intensity of crypto developments, and their subsequent feature on crypto exchanges, will slow down anytime soon. To keep up with the latest trends in this regard, here are overviews of 4 of the latest tokens adopted on various crypto exchanges.
The New Tokens Published on Crypto Exchanges
Sensorium Corporation has begun to enhance the accessibility and the liquidity of its token, SENSO, by making it available on established crypto exchanges. The latest of this campaign came on May 25, when it revealed that Bitcoin.com Exchange now supports its token. Before this, it had achieved similar milestones on Kucoin and HitBTC, which are vital steps towards achieving its aim to pioneer new generation social networks.
The company’s flagship product, AI-based virtual world Sensorium Galaxy, allows users to escape the one-dimensional construct of existing social networks and transcend to a more vivid interactive world – thanks to the giant strides made in virtual reality technology and neuro-interfaces. Users can create avatars, partake in various entertainment events in real-time, and interact in ultra-real three-dimensional worlds.
Likewise, the platform offers deep learning functionalities, which makes it possible for an avatar to nurture behavioral attributes similar to that of its owner. In essence, these avatars become the digital versions of users. The recent push to have SENSO available on reputable exchanges underscores its importance in the economy and smooth running of the platform. Data from the Coinmarketcap show that SENSO had a $0.215032 price debut and has generated over 100% ROI.
On the 27th of May, Bithumb Global announced that starting from June 1 it will support the deposit and trading of the 2KEY digital asset. The token is the lifeline of the 2key Network, a project creating new paradigms in the management of referral programs with the help of blockchain technology. The network allows users to create and manage multi-step referral campaigns. To do this, the network tracks all participants of the referral program and ascertain that everyone on the chain gets rewarded.
The project aims to ensure that individuals and businesses achieve their marketing goals and drive conversion. And for this to happen, the startup has opted for a blockchain framework and issued 2KEY as an integral component of the platform’s reward system. On May 15, 2KEY debuted on Coinmarketcap with a 0.072697 price tag.
Amun’s BTCSHORT is an Ethereum-based token providing an avenue to profit off the inverse of daily performances of Bitcoin. On May 20, Bitcoin.com Exchange listed the coin for the first time. In the blog post detailing the workings of the coin, the exchange explained that the token is “strictly not security, carries many risks, and is not suitable for risk-averse token holders and traders.”
According to the text, BTCSHORT holders receive compounded returns when the day performance of Bitcoin is negative. Conversely, a positive price trend for Bitcoin will automatically lead to a loss for BTCSHORT holders. The blog post reads:
“BTCSHORT offers a notional exposure to -1x the daily performance of Bitcoin. It is crucial that all token holders understand how compounding and the daily rebalancing of the token affect performance, especially in volatile markets. The tokens are designed for holding periods of equal or less than one day and holders need to consider their holdings each day.”
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Following the development of a native wallet for its Klaytn blockchain, Ground X, a subsidiary of Kakao, a popular South Korean chat app with reportedly 50 million, has announced that a local crypto exchange now supports its Klaytn token.
As stated in the news, Coinone, which is reportedly one of the top four exchanges in South Korea, has paired the token against South Korean won. With this development, Ground X is steadily positioning its product as one of the new generation platforms for blockchain applications.
From the information made available on its website, the team describes Klaytn as a public blockchain delivering institutional-grade hybrid solutions for developers. And so, it nicely combines the decentralization of public blockchains with the high scalability of private distributed ledgers to enable a robust ecosystem.
As per Coinmarketcap, the Klaytn token debuted on March 30, priced $0.101897. Since then, it has generated over 100% ROI for early investors.