Coins to Watch 10/30/17 - 11/05/17
Red Pulse
Red Pulse is a market intelligence platform that covers China's financial markets, and provides clients with in depth, up to date knowledge on the economic workings of the area. Red Pulse utilizes a mix of machine learning, Chinese natural language searches, and traditional research in order to uncover and process the most pertinent information for stakeholders.
Red Pulse currently produces well-subscribed content with over 50,000 paying customers subscribed to its newsletter. The Red Pulse team plans to improve their service by introducing a sharing economy for research with content creators and consumers trading research data for RPX tokens.
The Red Pulse ICO was a greatly anticipated project and was arguably only rivalled by Wanchain in terms of anticipation. Despite conducting a well-planned promotion, the token sale was scuppered by the recent change in cryptocurrency regulations handed down by Chinese legislators. This led to a delay in the token sale and to Chinese investors eventually being denied participation. These factors only increased the desirability of the RPX token and as the project was set up with a hard cap of just $15 million, a good number of eager international investors were sure to miss out from taking part in the ICO.
The RPX token debuted on the Kucoin exchange on October 28 and recorded a 24-hour trade volume of around $6.5 million, the token is currently priced at around $0.05, an increase of about 60% from its ICO price of $0.03. We can expect investors to look to open up positions in one of the year’s most anticipated projects and as a result, we can expect a good amount of price action on the RPX token.
Kucoin
Kucoin is an up and coming exchange that has aggressively set out to gain new users and a significant share of the market. Based in Hong Kong, Kucoin plans to leverage its geographic location to provide early access to some of the most promising coins in Asia as well as allowing for the trade of more established coins.
The exchange also operates its own currency known as Kucoin Shares (KCS) and the KCS token operates as a standard ERC 20 token based on Ethereum blockchain. Holding the KCS token allows platform users to experience a number of benefits including a 30% trading fee discount in addition to an award incentive bonus, which equals to 50% of the total trading fees charged by the platform, which is distributed back to users who hold KCS in their accounts.
Demand for the KCS token looks set to increase this week with the listing of the Red Pulse RPX token on the exchange as well as the listing of Asch (XAS) on November 2. Kucoin is an exchange that will only grow in importance and we can expect the price of KCS tokens to match the rise of the exchange.