In the recent selloff in the general cryptocurrency market in the past 24 hours, this article looks at how QTUM performed during the period and the chance offered to buy the token. The article will also detail the 50% slash in price of the coin in the last 30 days and whether it should be a major cause of concern for investors, especially HODLers. Read on to find out more on QTUM price performance in May through June 2018.
Qtum (QTUM) has in the past avoided the mass media coverage even as it offers one of the best technological developments in the cryptocurrency universe. The platform combines the security and stability provided on Bitcoin’s network with Ethereum’s smart contract technology system. Notwithstanding, QTUM further solves the slow and expensive nature of transactions on Bitcoin while increasing the scalability lacking on Ethereum. The token is touted as one of the most revolutionary projects available at the moment but the recent price troubles across the crypto world has hindered rapid adoption and ownership of the coin.
“X86 is a virtual machine that will replace the Ethereum Virtual Machine (EVM). A virtual machine is a kind of software that runs like a computer within a computer. The x86 VM specifically will be used to add more programming language support, specifically for smart contracts.”
The last 48 hours has seen the cryptocurrency market drop to levels last seen in December 2017. Bitcoin dropped by over 10% to drop below the $7000 mark this year, marking over 50% drop in value in 2018. This has in turn affected most of the other altcoins that have a key pairing to trade with BTC, none more so than Qtum (QTUM).
QTUM is facing the lowest of prices since Q4 2017, meaning all the gains in 2017 have been wiped off the board causing a bit of panic among investors. The quick sell off experienced earlier in the week across the cryptocurrency market saw the coin drop to $11.57, representing a 60% loss in value in the last 30 days. The coin is merely reacting to the overall bearish momentum in the market at the moment as BTC finds a stable support level.
QTUM investments in jeopardy?
After such a quick selloff in the market (since February) many investors will be willing to sell off as the market moves through the bearish momentum its facing. QTUM holders should however look at this as an opportunity to stack up on the Qtum bags as the development process of the blockchain is only getting better.
The development team announced the Qtum X86 project that is set to replace the Ethereum Virtual Machine giving it a quicker smaller code to be executed. This will make the process of creating smart contracts on the platform faster, scalable and cheaper. The co-founder of Qtum said this at the launch in May,
“We have done some actual physical tests with these configurations to compare what an x86 smart contract might look like compared to an EVM smart contract. Our findings indicate that x86 programs are around 10–20 percent smaller than their EVM equivalent and, in many cases, significantly more so. We are not worried about getting usable executable sizes from x86 programs.”
This recent bearish trend is set to end soon and those who stack up on QTUM may well have the best chance for profit come end of 2018. The details offered on the developments on Qtum Foundation are not exhaustive, follow us for further details in the developments in the Qtum blockchain.