Mainnet updates bringing NULS (NULS) strong price recovery

NULS has been a rare coin that hasn’t fallen off that far from its all-time highs during the latest market bear run. While it did lose some 50% of its value at one time, this is still much better than the 70s and 80s that other, more often talked about coins experienced. And NULS has shown an intention to recoup at least some of what was lost by experiencing a really solid month of July. Traded at 1,76 USD on June 29th, NULS managed to move up significantly by June 12th. On that day it reached a monthly high of 43000 satoshi (then worth 2,66 USD) which was quite an impressive rise, considering the downturn in fortunes the rest of the market was experiencing at the time. While it’s BTC value has stagnated since, its USD value went up to 2,87 USD, mostly due to Bitcoin gaining 800 USD in a single day yesterday. Currently valued at $2.84 USD, the coin has seen a 8.93% rise in the last 24 hours. With a market cap of $113,452,800 USD, NULS is currently 92nd most valuable cryptocurrency in the world.

NULS recently had a great update for its fans and holders as it mainnet went live on July 11th. Previously an ERC-20 token, NULS will now be swapped into native blockchain tokens and become independent from Ethereum. A celebratory conference was held in Beijing, where 300 invitees witnessed what NULS accomplished so far and what it plans for the future.

First future update they’re looking to release is called Chain Factory, and will be ready for the market by the end of 2018. Chain Factory will let users create their own cryptocurrencies by connecting to a modular library, truncating the amount of time and effort necessary to build a blockchain from the ground up. The company will also be looking to expand their manpower to adjust to an ever-increasing demand for development staff. A new CEO, Liesa Huang, was presented at the Beijing conference and she will bring multiple years of marketing, management and business experience into the managing team.

Community managers and HR specialists will also be joining the NULS team. Increased work on the marketing aspect of the project is expected as the project teamed up with the same marketing agency that Chain Link is currently using. The final important update said that NULS managed to secure an investment from Bitmain, which will ensure the company’s future in development of cross-chain technology.

NULS project, promoting itself as “NULs is nothing, NULs is anything,” is a modular blockchain platform which wants to allow developers to create their own blockchains on top of the native infrastructure provided by NULS. It will in a way be similar to Ethereum, providing smart contracts, storage, ledger, consensus, processing and an underlying network to operate on. The similarity doesn’t end there as NULS utilizes a modified version of ETH’s PoS protocol called Proof of Credit. NULS is currently mainly focused on China and will be looking to grab a significant part of this massive market, especially if its future updates are as strong as the ones we saw recently.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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