SYSCOIN - TA - Market Development - Recent News.
Here is some information on an altcoin still in its early stages I have recently heard about and that has seen recent gains in volume good price development and has some great potential in multiple applications.
For details on the indicators used here Altcoins - TA Thoughts Market Development and Recent News
For a more comprehensive explantion on Technical Analysis Vs. Fundamental Analysis authored by @satchmo for @adsactly.
About Syscoin (Sys) :
- Global network with a distributed database, distributed ledger, digital currency,tradeable token and a blockchain.
- Based on a fork of Bitcoin, can be merge-mined with Bitcoin.
- First started as a marketplace on the blockchain which was an origanal goal of Satoshi Nakamato.
- Transactions are near zero cost with super fast times,
- Can provide the infrastructure for the trade of goods, assets, with digital certificates and secure data.
- Aimed at getting business on the blockchain. eBay traders,High Street shops to Medical applications, Insurance and Gaming, to name a few.
- Partnership with Micreosoft Azure
- Has a multiple of features and smart contracts which can provide solutions for different decentralized service use-cases
- Hardened smart contracts cannot be compromised for nefarious purposes like some turing-complete platforms.
- All these features work together to create applications not possible with other blockchain projects.
Bollingar Bands
You can see leading up to the recent price gains Bollinger had squeezed being very close together before the widening and build of volume.
Displaced Moving Average + Exponential Moving Average
Both the MA and EMA are moving very close together so don't tell much have moved up and down today and with the uptick in volume is hard to read.
Relative Strength Index(RSI)
RSI is showing 34 so is near the usually bottom level of 30 with 70 the usually top could show movement to the upside.
Charts are from Trading View
Recent News
Blockmarket Desktop gets “low risk” assessment in security audit results
After its beta release last month, the security audit for Blockchain Foundry’s new Blockmarket Desktop Wallet is now complete. The company reports that there were no problems found in the core wallet and only four low/moderate risk issues were discovered in Blockmarket Desktop, none of which would have resulted in the loss of user funds.
Securing Blockmarket Desktop
Although these findings are low risk, the company wants to unmistakably remain dedicated to providing users with maximum security and confidence in the products Blockchain Foundry produces. As such, the team will accordingly be remedying a majority of these issues.
The team does not anticipate that the remediation steps will take long at all. Following the remediation phase, security audit firm Digital Boundary Group will perform and provide a remediation report to confirm the vulnerabilities they discovered have been fixed.
The finding in the report of “low risk” is great news for Blockchain Foundry as it indicates that the Blockmarket Desktop HTML-core, which also serves as the core for the Blockmarket Web is secure and will need minimal additional security work to prepare Blockmarket Web for production release soon after Blockmarket Desktop.
The Blockchain Foundry team stated:
“The changes to Blockmarket are already underway and will be completed within the week. After a final round of internal testing in conjunction with marketing planning for the final release, a hard and final release date for Blockmarket Desktop 1.0 will be shared as early as next week.
“This level of security diligence and transparency is something all investors should expect of companies operating in the fintech/cryptocurrency space. Insecure product implementations can directly lead to loss of funds. Having this implementation audited and thoroughly verified by a third party expert in IT security confirms that Blockchain Foundry’s products are safe and secure.”
“Blockmarket has been the primary public focus in regards to Syscoin (SYS) for the past few months but we’ve been working on additional Syscoin projects in parallel with Blockmarket. We’ll be sharing a bit more info on those initiatives next week via an updated roadmap.”
Thoughts
Syscoin looks set to target multiple markets with the main one being commercial business and indivdual traders with other possible applications also a partnership with Microsoft Azure will give access to a large user base immediately and once development goals from the roadmap below are reached i think there will be much price development moving up ranges with each successful pass..
I hope this information is beneficial to you and please let me know your thoughts on Syscoin in the comments below.
Technical Analysis is not set in stone and can fluctuate wildly, be sure to do due diligence before entering any trades especially in altcoin markets.
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Nice blog. Good to see I'm not the only one who thinks like this. Blockchain is here to stay, therefore we shouldn't look at what most people invest in but in the real quality projects, with great teams, management and a great product. Some people are still investing in "an idea". Is an Idea worth 100m+ USD to you? An interesting website I found: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. For example: https://www.coincheckup.com/coins/SysCoin#analysis For a complete SysCoin Report