Volatility continues to plague economic markets worldwide, despite intense government intervention. June 11th provided the largest drop in the Dow Jones since March, falling over 1,800 points. As one of the longest bull markets in history comes to a close, spooked investors are looking to alternative assets. As always, some fled to the precious metals market. Gold and silver both surged as stocks crashed.
Yet, if this most recent dip follows previous trends from 2020, another asset may benefit. Cryptocurrencies followed stocks during the COVID-related crash earlier this year. However, while stocks suffered severe volatility, cryptocurrency markets recovered handily. While long-time frontrunners such as Bitcoin and Ethereum led the recovery, some smaller cryptocurrencies deserve notice.
Bankcoin Reserve (BCR)
Bitcoin’s price action brought focus away from its usage as a digital currency. Instead, many now look to it as a store-of-value – an idea buoyed by the recent COVID crash. Bitcoin’s brand recognition and first-mover status keep it dominant, for now. Other cryptocurrencies continue to chip away at BTC through purpose-built blockchains.
Bankcoin Reserve or BCR serves as a store-of-value based on physical goods. Pegged against the price per ounce of gold and offering annualized interest, BCR swerves away from volatile price action. Removing that aspect makes it attractive for use in back-end bank software. Replacing legacy banking software with immutable blockchain technology is a nearly foregone conclusion – with BCR positioned perfectly to capitalize.
V-ID Token (VIDT)
Essential services often require verifiable documentation. Even in a digital world, signatures hold a tremendous amount of weight. V-ID and the associated V-ID Token provide a solution to this issue. Through the establishment of documents on the V-ID blockchain, they become immutable – verified and freely referenced by all associated parties.
Last year, V-ID partnered with AmSpec to provide digital verification for oil and gas inspections.
One of the fastest-growing projects in the cryptocurrency industry, Chainlink could hasten public adoption of blockchain tech. Their network provides a way to merge blockchain systems with more traditional APIs. This allows a much larger swath of digital products to leverage blockchain advantages. Chainlink’s potential did not go unnoticed – it recovered quickly and retested highs after the COVID-crash.
Chainlink provides the next logical evolution for cryptocurrency. Bitcoin created the market and paved the way. Ethereum introduced smart contracts and unlocked the potential of decentralized computing. Chainlink, in turn, allows the integration of decentralized computing into traditional markets.
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated three hundred and fifty dollars by third party FMW Media/Vince Caruso on behalf of BCR for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/
Photo by Clifford Photography on Unsplash
See more from Benzinga
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.