Since January 5th, the Walton coin has nearly tripled in value – jumping from about $10.00 to $28.75 in less than three weeks. But this cryptocurrency has had an awesome growth story already. It was trading at just 80 cents in the first week of September, and is now the 40th most valuable cryptocurrency – according to CoinMarketCap. That means that this coin is more valuable than Electroneum (ETN). Just take a look at the WTC chart from the last 30 days:
If this upward trajectory continues, and we don’t experience any resistance at the $30.00 mark, then this coin could be making more double-digit gains in the days to come.
What is the Walton coin all about?
This cryptocurrency only began trading in August, but the Walton Coin was introduced back in the Fall of 2016 thanks to a team in China. This blockchain, like IOTA (MIOTA), is all about the Internet of Things (IoT) ecosystem – our global network of connected devices like cars and refrigerators.
But, unlike IOTA, this coin is all about tracking chips. The name of this venture actually comes from the inventor of radio-frequency identification (RFID), Charles Walton. It is essentially chip technology that enables the tracking and quality control of objects. This technology is already used all over the world today. Mix that together with blockchain, and you have the Walton coin.
With each product tracked from its birth to being in the consumer’s possession, data is being collected in a decentralized ledger. Imagine how streamlined an existing manufacturing process could be if this technology was used. It will also have value to consumers, who can verify the authenticity and quality of their RFID-enabled goods.
Can the Walton coin handle any more growth?
The sheer idea of IoT-based blockchain technology has driven IOTA (MIOTA) to be one of the 10 most valuable coins globally. It could certainly happen for the Walton coin, right? Unfortunately, the kind of growth that we’ve seen from WTC in the past few days is making us nervous that there will be a merciless pullback – with its price dropping back toward the $20.00 mark temporarily.
But, it could absolutely break out over $30.00. In five days, there will be some sort of big event, possibly a price booster:
— Waltonchain (@Waltonchain) January 22, 2018
What do you think? Has the Walton coin run out of steam, or is there more gas left in the tank to take this thing higher than $30.00?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.