Over the course of this weekend, it has become all the more apparent virtually all cryptocurrencies and digital assets are tied tot he value of Bitcoin. That is a very unfortunate development, although there is some reason for optimism too. The Kin price, for example, succeeds in netting gains in USD, BTC, and ETH value over the past few hours.
Kin Price Starts Moving Up Again
It has been a while since people last talked about the Kin price. This native currency, developed by the Kik Messenger team, has a lot of real-world potential. After all, its parent company serves millions of users worldwide every single day. Even so, the value of this token, as well a sits total market cap, are nowhere near the levels most speculators expected.
In the past few hours, there has been a notable increase in the Kin price. In fact, there is a 2.8% gain in USD value, which is rather adverse given the overall market circumstances. Moreover, Kin gained 13% in both BTC and ETH value as well. Again, that is something most other currencies are simply incapable of at this time.
When looking across social media, it is evident more cryptocurrency enthusiasts know all too well Kin has actual potential. Cristiano Couto confirms how the ecosystem currently has several dozen applications in development. Each and every one of those apps will be welcomed with open arms, although it remains to be seen what one can expect exactly.
— Cristiano Couto (@crispcouto) November 25, 2018
The Kinformant, on the other hand, is concerned about so many projects deriving value from Bitcoin. As such, it will be great news to learn Kin is the only exception in the top 125 right now, although that situation may come to change in the days and weeks to come. For now, Kin is doing its own thing and succeeds in doing so as well.
— The Kinformant (@TheKinformant) November 25, 2018
Giorgio Makris is confident all of these problems will go away once people start buying more cryptocurrencies and tokens. While there is some merit to this train of thought, it is evident no one wants to try and catch a falling knife. Things will turn around eventually, although it is a bit unclear if this will happen at some point in 2018.
Guys just buy some cryptos , and who cares about the news , new news old news it's the same shit everywhere !! #kin
— Giorgio Makris (@GiorgioMakris) November 24, 2018
Keeping all of this information in mind, it seems to be a matter of time until the Kin price keeps rising. Right now, it is trading well below its potential, as the market cap sits at just $18.7m. Even so, the rise to $50m and even $100m will take a while, even if money started pouring into cryptocurrencies overnight.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.