On Saturday, the FirstCoin (FRST) crypto currency saw an impressive rise of 8.4%, outperforming the wider crypto market. This was despite a week where the cryptocurrency had already enjoyed a steady upward trend.
The uptrend can be attributed to several factors. FirstCoin had launched their unique Merchant Program last week, which is a first-of-its-kind program designed to allow businesses and merchants to accept FRST as payment for goods and services. This has already been seen as a positive move for the cryptocurrency, as it’s an important step in moving FRST towards becoming a payment system.
In addition, news of the impending activation of Segregated Witness (SegWit) on FirstCoin’s blockchain may have also contributed to the increased value. SegWit is a protocol upgrade that increases the capacity of the blockchain without increasing the block size limit, which has been a contentious issue within the Bitcoin community. The activation of SegWit on the FirstCoin blockchain is expected to bring a number of benefits, including faster transaction confirmations and lower transaction fees.
FirstCoin is also expected to launch its own exchange in the near future, which is likely to have a positive impact on the value of the cryptocurrency. Once the exchange is launched, it will be possible for users to trade FRST against other cryptocurrencies and fiat currencies.
The economic indicators that drive the cryptocurrency market as a whole were also positive on Saturday. Bitcoin, the largest cryptocurrency by market cap, rose by around 1.3%, while Ethereum, the second largest cryptocurrency, saw gains of around 4.6%.
Overall, it’s clear that FirstCoin is one of the more promising cryptocurrencies in the market at the moment. The Merchant Program is a significant step towards making the currency more widely used and accepted, while the activation of SegWit on the blockchain is a major technical improvement. With their own exchange set to launch soon, and economic indicators looking generally positive, there’s every reason to believe that FirstCoin will continue to perform well in the coming days and weeks.
However, it should be noted that the cryptocurrency market is still highly volatile, and that investors should exercise caution when investing in any cryptocurrency. While FirstCoin has shown strong growth in recent days, it’s important to remember that past performance is not necessarily a reliable indicator of future performance. It’s also important to ensure that you are fully aware of the risks and challenges associated with investing in cryptocurrencies before making any investments.
In conclusion, the recent success of FirstCoin (FRST) is a positive development for the cryptocurrency market as a whole. With its innovative Merchant Program and the upcoming activation of SegWit on the blockchain, FirstCoin is rapidly establishing itself as a serious player in the world of cryptocurrencies. While caution is always warranted when investing in any volatile market, the future looks bright for this promising cryptocurrency.
FirstCoin, a lesser-known cryptocurrency, has been gaining attention for its relatively low volatility when compared to other cryptocurrencies. As of Saturday, the crypto has increased 8.4% to $0.0005171786025.
InvestorsObserver, a leading market research and analysis firm, has given FirstCoin a 22 Volatility Rank. This means that the coin has relatively narrow price swings and is well protected from price manipulation.
The Volatility Gauge tracks over a period of time, which means that one day won’t define its volatility rank – a trend will. This means that FirstCoin’s low volatility reading is a trend that has been ongoing for some time, making it a reliable investment option for risk-averse investors.
Furthermore, FirstCoin has a low reading on the Risk/Reward Gauge, which signifies that its pricing is much more predictable, and there is less risk associated with investing in this cryptocurrency. However, this also means that potential rewards might be lower than for other cryptocurrencies with higher volatility.
Currently, FirstCoin is trading near resistance, with support at $0.000450939056246852 and resistance set at $0.00052938034037811. This leaves FirstCoin with potential selling pressures ahead as it may be getting overextended.
Overall, FirstCoin may not be as well-known or as popular as some of the other cryptocurrencies in the market, but its low levels of volatility make it a reliable and stable investment option for those looking for a less risky investment. With its predictable pricing and reliable trend, it could be a great addition to any investor’s portfolio.
