Waltonchain (WTC) seems to be busy with delivering on what they previously promised to the community
Waltonchain is starting to show it’s got some bite left in it as of late. We saw the currency peak in July, around the 9th, when its price reached $7.79/115905 satoshi. Ever since it has been bleeding out, falling to a July 31st low of $4.94/63881 satoshi. August brought some more depreciation as the currency reached its monthly lows on the 14th, clocking in at $2.04/33419 satoshi and losing more than two thirds of its early July value.
There has been a slight turn of its fortunes in these last couple of days. The currency has been slowly trending upwards and managed to reach $3.51/53920 satoshi on the 24th, before retracing slightly after that. Right now one WTC can be purchased for $3.10 USD (a 3.87% drop in the last 24 hours)/46742 satoshi (a 6.69% drop in the last 24 hours). It has a mediocre daily trade volume of 1,314 BTC, most of which (50%) comes from Binance. With a market cap of $124,533,150, Waltonchain is currently the 55th most valuable cryptocurrency on the market.
[vcw-full-card symbol=”wtc” color=”white” currency1=”USD” currency2=”BTC” currency3=”ETH” url=”” target=”_self”]
Furba from TradingView provided the analysis of WTC technicals:
“Walton recently approached the historical low. Technically, it is still in the falling wedge, but the support level held strong, and the recent upward movement momentum is substantial. The volume is also picking up. There was a similar situation in 2017th, and after that Walton surged to a new ATH. The situation may happen again; at least if there will not be new lows with Bitcoin.”
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The project that’s looking to revolutionize the supply chain management industry seems to be working on delivering the full service, ahead of competitors like VeChain. Walton has announced that their first IoT UHF RIFD chips have been made. When compared to its nearest competitor VeChain the chips visually don’t look as slick and that well designed as the ones VeChain has in its arsenal. Still, their infrared receiver chips are apparently already in mass production so the technological infrastructure required for the Waltonchain system to function is slowly coming together.
We are delighted to update our community that the mid-end infrared receiver chip (XMS8088) developed by Waltonchain's technical supporter Silictec has entered the mass production phase!#Waltonchain $WTC #Blockchain #IoThttps://t.co/AhynT6su1L
— Waltonchain (@Waltonchain) June 6, 2018
The team also released a 1.0.21 wallet update, which now comes with added AMD GPU mining, optimized node section in statistic, improved mining stability and an optimized interface. The wallet will have additional Chinese interface and can be downloaded from this link.
Waltonchain announced this info and much more during their AMA. This AMA had team members Cheng Zhangdong (COO), Yang Feng (VP) and Luo Tianbao speak on various topics which included:
- Priorities for the future
- Community related topics
- Whitepaper
- Website
- Airdrops
- Token Swap
- Mining
- Platform security
- Transaction fees
- Exchange listings
The full transcript of this AMA, which left some community members with something to be desired, can be found here.
In recent updates, Waltonchain announced that their government approved Walton Blockchain institute is actively participating in Korea’s plan to accelerate the development of blockchain in Korea. South Korea is planning to invest nearly $900 million next year for the mentioned purpose, with additional $3.5 billion set aside for 7 other digital economy projects.
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The Waltonchain blockchain has reached the 200,000th block and project’s developers thanked the miners for their work, promising that they’ve taken a snapshot and the addresses that received more than 50 WTCT in mining rewards will be given the old ERC-20 WTC tokens in a ratio of 1:1. They also claimed that this event will be a “token swap”, when it clearly isn’t that. The community is still waiting for the proper WTC ERC 20 to WTCT mainnet token swap to commence on major exchanges.
Finally, the team has teased the promised Waltonchain whitepaper that will introduce several new, “great” concepts to the WTC population, including:
- Chain Cluster
- Waltonchain Proof of Contribution
- Cross-chain ecosystem under the parent chain and child chain structure
These concepts will apparently bring about increased consistency, access, normalization and circulation to the WTC ecosystem.
For now, Waltonchain seems to be busy with delivering on what they previously promised to the community. There is a real market for this project, with supply side product authenticity being a real sore in the eye of many markets out there. We should learn more about how capable they are to deliver a competitive product when the whitepaper 2.0 drops and later on in Q1 of 2019, when first chips/scanners start being shipped.
