SYS looking good and going up
Coin of the day is SYS coin.
The main product of the Syscoin team is Blockmarcket, a blockchain powered marketplace "where you can securely and reliably buy and sell any items you wish". They position themselves as a future competitor to Amazon and eBay. Syscoin offers a set of technologies: a global network, a distributed ledger, a decentralized database and a blockchain.
Originally launched in late 2014 and created through a Bitcoin fork, the current version brings us to Syscoin 2.1 and has an algorithm that allows it to be merge-mined with Bitcoin. Merge mining is simply the ability for miners to simultaneously mine two different cryptocurrencies based on the same algorithm.
For now, it’s one of the cheapest cryptocurrencies regarding transaction fees (behind zero-fee transaction cryptocurrencies NEO and NANO), even cheaper than Ripple.
Syscoin is present in the industry since 2014, relatively long for blockchain companies and has a fully functional product, which proves the competence of the team.
SYSBTC lowered under the pressure of the latest Bitcoin recession but stumbled on the 0.00004 level at 18.03.2018. The currency pushed off from the 0.00004 support but did not manage to break above the 0.00005 resistance. The coin stays in the uptrend bias and probably will test the 0.00005 resistance again soon. In case of the breakthrough of the 0.00005 resistance, next target will be 100-days EMA.
From the downside, 0.000045 and 0.00004 levels will play a supportive role.
The main product of the Syscoin team is Blockmarcket, a blockchain powered marketplace "where you can securely and reliably buy and sell any items you wish". They position themselves as a future competitor to Amazon and eBay. Syscoin offers a set of technologies: a global network, a distributed ledger, a decentralized database and a blockchain.
Originally launched in late 2014 and created through a Bitcoin fork, the current version brings us to Syscoin 2.1 and has an algorithm that allows it to be merge-mined with Bitcoin. Merge mining is simply the ability for miners to simultaneously mine two different cryptocurrencies based on the same algorithm.
For now, it’s one of the cheapest cryptocurrencies regarding transaction fees (behind zero-fee transaction cryptocurrencies NEO and NANO), even cheaper than Ripple.
Syscoin is present in the industry since 2014, relatively long for blockchain companies and has a fully functional product, which proves the competence of the team.
SYSBTC lowered under the pressure of the latest Bitcoin recession but stumbled on the 0.00004 level at 18.03.2018. The currency pushed off from the 0.00004 support but did not manage to break above the 0.00005 resistance. The coin stays in the uptrend bias and probably will test the 0.00005 resistance again soon. In case of the breakthrough of the 0.00005 resistance, next target will be 100-days EMA.
From the downside, 0.000045 and 0.00004 levels will play a supportive role.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.