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XRP's price in the last week has been nothing but bearish. The price went from $0.269 to $0.222, a 17% drop in 4 days, followed by sideways price action. Although a 17% drop was on the extreme end of the spectrum and unlikely, it occurred.
As stated in a previous article,
"A drop of 5% would take XRP to $0.2574, 10% to $0.2460 and 15% would put XRP at $0.2317. A 15% drop is on the extreme end of the spectrum, so it is unlikely to happen."For now, the price is trading at $0.23 a small recovery after hitting $0.22. However, this surge looks unsure and hence there could be more of the sideways price action.
BOOM is a new type of utility token with self-destructing mechanism, based on Ethereum smart contract. BOOM project is a social experiment, aiming at exploring the market influence of an extremely deflationary cryptocurrency, and it will validate the effect of BOOM token as a hedge against the rapid inflation in token ecosystem.
The origin of BOOM is simple, once users transfer BOOM to others, 1% of the total transfer amount is automatically destroyed at the same time. The initial total supply of BOOM is 1 billion. The supply will decrease due to transactions, and no new BOOM will be issued then. The destruction of BOOM token will run automatically on chain, written in Ethereum smart contract.
No one can interfere. When taking insight into bitcoin and litecoin supply halving history, you can find that destroying the liquidity can cause positive market expectations, and may cause a value increase. Now Boom provides a whole new supply curve, which is much more radical.
It is a direct reduction in supply of token. As users increase and BOOM circulation speeds up, destruction of BOOM will also accelerate. Once a user buys BOOM, he/she can only sell 99% to others, so the ‘Price Increase’ Expectation will be there naturally. That situation makes users prefer to hold, if the pump is not big enough. Increasing total amount = fiat currency ，Total volume is constant = Bitcoin，Declining Total Volume = BOOM
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By Enwapame Lee
The Cryptoknowmics team attended the recently held World Blockchain Summit Bangkok on 1st and 2nd December 2019. The event marked the congregation of many industry veterans who registered their presence at the summit. At the event, the Cryptokowmics team rubbed shoulders with some of the most prominent industry personalities. Also, they had the chance to interview many of them, including Jorge Sebastio, Evan Luthra, and Herbert R Sim.
Finally, a Way to Give Power Back to the People!
During his interview, Evan Luthra, the CEO & Founder of EL Group International, appreciated the blockchain technology saying that it could change the way people do business. He hailed the technology as a way to encourage active participation by users in the business, thereby, putting the power back into their hands. He also reflected upon the driving factor behind entrepreneurship, which he claimed wasn’t money but the passion for what people want to do. Evan also highlighted the importance of events like the World Blockchain Summit Bangkok to strengthen the crypto community.
Interviewing the Bitcoin Man at World Blockchain Summit Bangkok
The Cryptoknowmics team also got in touch with Herbert R. Sim, popularly known as the Bitcoin Man. He is the founder of the Crypto Chain University (CCU) and advisor to Future1exchage. He threw light on the economic dynamics taking place in the crypto market with the entry of China. Also, in his Bitcoin prediction, he said that the price could hit at least $50,000 by June 2020. He, therefore, advised the Bitcoin holders to hold on to their Bitcoins as its prices could rise significantly in the coming days.
News source: https://www.cryptoknowmics.com/news/cryptoknowmics-team-interacts-with-crypto-stalwarts-at-the-world-blockchain-summit-bangkok
As at September 30, 2019, the Company had working capital of $1.4 million, which included cash and cash equivalents of $7.0 million. The cash balance reflects the completion of a non-brokered private placement in July 2019 for net proceeds of $4.5 million. Overall current assets decreased from December 31, 2018 due to a lower inventory balance, particularly of gold-in-circuit, and lower HST receivable due to the timing of payables. Trade and other payables were down from year-end, primarily due to the ongoing payments of invoices relating to the underground bulk sample at Goldboro. Current taxes payable relate to Newfoundland mining taxes and reflect the estimated amount payable based on the first nine months of 2019. The increase in other current liabilities reflects the flow-through premium recognized as part of the non-brokered financing completed in July 2019, which included $2.6 million of flow-through financing.
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