Monero’s price continues to slide as more platforms delist the coin, including Binance and Kraken. Chainlink is also not doing spectacularly well, with some analysts noticing a negative correlation between Chainlink and its Cross-Chain Interoperability Protocol. To top it all off, Ethereum has been on a downward trend for quite some time.
As a result, Monero and Chainlink investors are turning to DeeStream, a decentralized video platform that promises impressive returns. A platform with a purpose and a proven business model, DeeStream is less reliant on market moods and more reliant on the success of its business model. And, considering its approach, there’s no way it can lose.
What you'll learn 👉
Monero: A Little Too Much Privacy
Monero is a coin that touts itself as offering maximum privacy. And that’s precisely what seems to have gotten it into trouble. After all, who could have predicted that regulators and other authorities would intensely dislike a form of payment in which the user is truly anonymous and can’t be tracked?
As a result, Binance has delisted Monero, and Kraken is following suit in Ireland and Belgium due to new laws in the EU. And all this is reflected in the price of Monero, which dropped by 11% in the past month. When Binance made the announcement, it tanked from a recent high of approximately $140 to $105 but has recovered somewhat to trade at $121 as of this writing.
However, Monero’s future is up in the air because other platforms may have no choice but to follow in Binance and Kraken’s footsteps. If that’s the case, there’s a good chance that Monero will tumble even further.
Chainlink: Negative Correlation with CCIP’s Increased Adoption
Chainlink is a blockchain oracle network that provides on-chain smart contracts with external data and off-chain computation. It lets blockchains access real-world data and events through a decentralized network of node operators.
Interestingly, Chainlink saw a sharp rise in activity and fees generated from its Cross-Chain Interoperability Protocol (CCIP). However, the LINK token itself did not benefit. That’s because CCIP fees are collected by node operators rather than offering token holders additional value.
So, while the adoption and usage of Chainlink’s infrastructure grew, that specific growth did not translate into significant gains for LINK. It should be noted that Chainlink has seen some recovery, but it’s still down 16% from a month ago. It’s currently trading at $15.4, which is still a 114% increase year over year.
DeeStream Set to Rock the Crypto Markets
DeeStream is a decentralized video streaming platform that’s set to give the likes of Twitch and YouTube a run for their money. How can it compete with such giants? Easily. It offers something other platforms have lost sight of, namely a welcoming environment for creators and viewers.
Instead of dictating what people can create and what people can watch, DeeStream is a proponent of free speech within legal limits. When one adds in the fact that they offer much more advantageous revenue splits, instant payouts, and low fees, it’s not surprising that investors and users have caught the DeeStream fever. And no one wants or needs a cure.
Considering that the platform is currently in its stage two presale and priced at a mere $0.06, everyone can see the potentially massive gains. As a result, investors and users are banging on iron while it’s hot to make the most of their investments.
For more information on DeeStream’s presale, please visit the website here.
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