2 Unknown But Amazing Coins: Wanchain (WAN), POA Network (POA)
The market is witnessing some crazy price runs from obscure or new coins. Here are two projects causing ripples in the market and which any serious investor should consider.
Wanchain (WAN) tops the list of new coins that are set to really make a move in the market in the coming days. The platform seeks to provide an enabling ecosystem for distributed financial infrastructure.
The aim is to connect various blockchain projects via a global cross-chain protocol. Furthermore, the project wants to enhance blockchain interoperability by enabling cross-chain and intra-chain transactions. It will also offer users with a platform for smart contracts.
Why the sudden surge in WAN price?
Literally, there is a plateful going on for this crypto. The community is fully behind it as it seeks to prove skeptics wrong with a strong Q2 performance to mirror the current trends. One of the foremost reasons that could be driving the price up involves increased exposure via a second listing on a popular exchange. The latest good news comes in the form of Kucoin listing WAN and providing two trading pairs.
The Kucoin listing follows that of Binance, one of the largest Bitcoin exchanges in the world. But this ain’t the only good happening to WAN.
The main factor that could be pivoting WAN towards higher gains revolves around the anticipated revelation and launch of 6 new blockchain projects on the Wanchain network. The big announcement is slated for mid-April, 16th being the probable date. The announcement will be made at the World Blockchain Forum in Dubai. Speculation is rife that it could be about cross-chain interoperability. If it works, this could be big for WAN going forward.
Furthermore, Wanchain struck a vital partnership with KyberNetwork in February. That deal provides the crypto with a huge boost in terms of where it wants to go. It brings a 3-pronged approach with advisory, a decentralized exchange, and collaboration on PeaceRelay, a project to be overseen by both Wanchain and KyberNetwork.
Wanchain (WAN) is ranked 29th on XBT.net with a market cap of $493million. The rapid rise in value sees some of the community members predicting that the coin could hit a $1 billion cap before the big announcement. The WAN coin traded at $4.65 today, +15.43% and +9.13% against both USD and BTC respectively.
Although the price dropped briefly on 30th March, it quickly rebounded from the $2.75 low to $4.45 on 10th April. Over the 7-day period, WAN has posted a solid +46.78%, defying negative market sentiment. If the coin continues with this uptrend, it could easily hit the $1 billion market cap. And who knows where the price could have reached by then!
POA Network (POA)
POA Network is an Ethereum-based platform that offers an open-source framework for smart contracts. Basically, POA is a sidechain on Ethereum utilizing Proof of Authority as its consensus mechanism. The project gains further appeal by employing independent block validators.
The network, which launched its Mainnet in December 2017, already has a host of dApps running on it. It boasts of being highly scalable, secure and cheaper than most other projects.
It has a fast block time of just 5 seconds, making it one of the go-to blockchain solutions on the market. It doesn’t involve mining and therefore, doesn’t require huge computational power.
It is the only sidechain on the Ethereum platform that is functional in terms of having a working product. Below is part of its roadmap. As you can see, there’s plenty to look forward to in 2018.
POA Network expected to see a spike in the 2nd half of 2018.
This is really what is exciting the investor community about this project. By providing a platform for small businesses and projects, POA Network opens itself to a really huge market. It’s in Q2 that the network will see a leap in adoption via multiple interledger protocols.
The coin was recently listed on Binance, with the expected exposure to a wider market ideally increasing chances of more people buying POA coins. Getting listed on Binance represents growth for the coin ranked 100th on XBT.net.
The team also undertook a rebranding, done behind the scenes. The facelift sees the coin encompassing new features. These will be rolled out in phases over several weeks. It is such optimism that has the community.
POA is currently trading at $0.54446, up by more than 18.26% against the US dollar and +15.41% against BTC. According to XBT.net, POA began trading on February 28th, 2018 at a modest $0.63.
However, when the bear market took over, its value plunged to an all-time low of $0.23 on 18th March. By April 3 , its value had appreciated to $0.366 and is today posting a huge +52.32% on the 7-day chart. Its market cap has also spiked from $71m to $102m in the last 7 days.