With Bitcoin Fork coming, the money is flowing from other crypto-currencies to Bitcoin. From last few days, I am doing research to find out the top altcoins to watch out for in November because currently they are available at dirt cheap prices and the market would flow into a new direction after the fork.
So, below is the first coin I am optimistic about for November:
SYSCOIN: Fully Decentralized Marketplace
Today is November 5, Syscoin is being traded at $0.20 currently. The coin declined by roughly 50% due to the Bitcoin Futures launch. However, it jumped back from its lowest of $0.16 and currently being trading at around 25% above its lowest point of past week. $0.16 seems to be major support level for the coin.
What is Syscoin?
Syscoin is based on Bitcoin protocol and is merge-mined with Bitcoin. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin’s applications covers everyone in the market from eBay traders to High Street merchants.
Why this would be a key watch?
First, Blockchain Foundry is the parent company of Syscoin and currently working on re-branding of the coin. As per their Twitter handle, the new brand of Syscoin is set to be launched in December. Hence, updates are expected in the month of November. Looking at the complete picture, Syscoin already has developed a list of products for the market including Blockmarket Desktop, Syscoin Full Node, API Server and Price Peg Server. Furthermore, rebranding will certainly push these products ahead in the market and would attract the investor’s attention. Evidently, Such investments indicate strong plans by the company for the coin.
Second, Syscoin recently launched its masternodes which made the coin rise by around 27% in 24 hours. In layman terms, masternodes are key nodal points for a marketplace which control all its features like ratings, payment systems, customer information, product information. Now, individual investors can also invest in these masternodes and would be paid for every transactions for that particular activity. Hence, masternodes serves as a good source for passive income. This would certainly induce more funds into the Syscoin