Today I will tell you about one of the cryptocurrencies that I believe will be one of the hottest coins this year.
The coin is: QASH
Current market cap: $293,468,700 USD
Circulating supply: 350,000 000
Total supply: 1,000,000,000
QASH is developed by QUOINE
PURPOSE OF THE QASH TOKEN
The whitepaper clearly states the purpose of the token:
"Providing liquidity to the non-LIQUID Crypto Economy"
How is QASH going to provide liquidity to the cryptocurrency economy?
Through QUOINES LIQUID Platform
QUOINE is currently developing a platform that is designed to combine all the order books from different liquidity sources (exchanges) into one single highly liquid tradable order book, allowing orders to be placed in the currency of one's choice.
You might be curious to what the point would be to combine all the order books from all the different exchanges? The answer is simple: It’s because different exchanges have different access to liquidity.
The current crypto economy is held together by a large number of cryptocurrency exchanges. You might wonder why exchanges sometimes have different prices on the same tokens?
Because the different exchanges have different liquidity. The price for e.g. NEO/USD could be different on two seperate exchanges due to difference in access and demand for the coin on each separate exchange.
The price on NEO/BTC is $140 on Binance, while it's $145 on Upbit.
Why is there a diffence in price on different exchanges? I'll provide an example to illustrate:
A trader on Binance wants to sell his NEO, he puts a sell order on $145. Unfortunately, there is no buyer there that wants to buy the tokens for that price, so he would have to drop the price to $140 to be able to sell, even if there are people that is buying the same token for $5 more on another exchange (Binance).
What QASH is trying to accomplish, is to use the token to connect the exchanges to provide liquidity. If you were to buy NEO with QASH, it would automatically be bought from the cheapest connected exchange.
You would not have to worry about price fluctuations on difference exchanges, because the "world book" would give you the best price available.
This way the token is going to provide liquidity.
FIAT - CRYPTO
It's easy to sell your crypto for widely used currencies like USD and EUR, but what if you're in a country that is using a currency that is only on a few exchanges that has low volume?
The price would be severely affected because of the small amount of liquidity. When people wanted to buy, the price could be higher than with regular pairs, while the opposite would happen if the masses would want to sell, because of the shortage of sellers and buyers that is available in bigger markets (e.g. USD).
If the platform is big enough, you could trade that currency for USD instantly because QASH would be the reference point for all currencies.
POTENTIAL OF QASH
QASH is still under the radar, and I believe that we can expect some big movement before the official opening of the liquid exchange (world book).
I believe that QASH has a bright future ahead and might be one of the most profitable coins to hold the next few years.
The CEO himself - Mike Kayamori has stated this:
“I believe our QASH Token will be top 3 in global crypto market cap within a couple of years at the latest. I want everyone who shares this vision to join our journey.. It is going to be amazing. You should see our management team and our directors and angel investors. The only way to assemble such a team and supporters is because we all share in the same mission.”
I truly believe that it is likely that QASH will reach top 3 in a few years.
Keyword: Institutional money
When the institutional money comes in to crypto, a lot of it would be trough QASH, as it would be make more sense in contrary to buying BTC directly. Quoine has already partnered with several brokers that offers everything from oil to stocks, and are already partnered with over 15 exchanges.
DISCLAIMER: This is not financial advice, always do your own research before investing.