The price of Waltonchain has been all over the place as of lately, while trading volumes have been extremely low compared to the January peaks. Back then WTC exceeded $45 and was one of the tokens that many predicted to reach three-digit dollar values. Nowadays WTC is trading a lot lower than those ATH’s. Today we saw the price rise to $7,35 before falling down to its current levels of $6.66 USD. The coin has dropped 7.38% in the last 24 hours and is rocking a market cap of $267,340,031 USD which is enough for 45th place on the list of the world’s most valuable cryptocurrencies.
The coin’s recent slight surge in price can be attributed to the latest updates on the field of adoption. The first important update we saw this month was the introduction of Waltonchain’s WTC-Garment system, “the world’s first blockchain-based high-end clothing authenticity traceability system.” Just a day later, a post was made on Twitter by the Waltonchain official account which announced WTC Food, a service designed to trace food authenticity. With WTC-Garment and WTC-Food, the project is looking to fight VeChain for the blockchain-based supply side management industry, and these updates will surely bring them closer to grabbing a strong market share.
In other news, the coin was recently launched on HuobiPro, one of the largest Chinese exchange platforms. This move will bring increased liquidity and volume to the coin. Finally, Waltonchain Subsidiary Silictec officially signed a strategic cooperation agreement with GOME FINANCE, a subsidiary of the GOME Holdings Group. Silictec is a company committed to research and development of Human Smart Sensor Chip based on the Image Sensor Technology of a new generation. With this partnership, the companies will look to work together on promoting the industrialization and internationalization of blockchain technology to realize the maximum value for customers, employees, enterprises and society in the future. Reddit user altavilla99 suggested what the scope of the partnership was:
“69° in top 250 retailers in the WORLD, Alibaba is to GOME like amazon is to ebay”
The project has suffered bad publicity in the past for awarding a token airdrop to one of its own team members. This was explained by the Waltonchain team as accidental, but many investors reacted negatively and lost faith in the project. These latest developments signal a more serious approach from the company which should have a positive effect on the coin’s price in the future.
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.