Unknown U.CASH (UCASH) Does 1,145% Gains In 12Hrs
[Photo: UCASH logo. Source: u.cash]
Yesterday, while the Crypto-Verse was busy analyzing the value of Bitcoin (BTC) and where the markets were heading, a little known token known as U.Cash (UCASH) was doing somersaults by doing over 1,000% in gains in less than 24 hours. On February 11th, 2.39 pm (UTC + 3), U.Cash was valued at $0.0183 and by 2.09am – less than 12 hours later – it was valued at $0.228. This is a ground breaking 1,145% gain in a very brief period. UCASH has since levelized to $0.16 at the moment of writing this. This is a 724% gain from the $0.0183.
Such gains are usually the tales and myths of pumps and dumps orchestrated by whales flirting with a newly added tokens and coins on exchanges. But the more I research into UCASH, the more I see some interesting things that could lead to a game changer in the Crypto-Verse.
From the get go, UCASH is a finetech solution on the blockchain. UCASH has this brilliant idea of building a global network of cash to digital currency conversions, and vis versa, using software that gives its users access to groundbreaking financial services and the said digital currencies.
Reading the whitepaper, what I can deduce is that U.CASH wants to bridge the gap between regular fiat and cryptocurrencies irrespective of the country of residence of the user. It will do so on the secure, fast and decentralized network provided for on the blockchain and by utilizing smart contracts.
They have what are called ‘converters’ which are pretty much physical locations one can go to to convert fiat currency to crypto or vis versa. There is also the unique individual mobile converter which provides an in-person exchange of the currencies. Then there is the online and mobile platform converters that accept various remote funding options such as bank deposits, online transfers, money remitting networks, just to name a few.
U.Cash also promises to make third party partnerships to ease accessibility of their services in local areas that have not been fortunate to experience the cryptocurrency ‘madness’. In simple words, they are plan on providing accessibility of crypto to the thousands, if not millions, of people who are not close to internet services in urban settings.
Another thing that differentiates UCASH from any ICO or Token out there, is that they did what is known as an Initial Bounty Offering. They call it an IBO on their website. Their form of funding the project was by allowing people to contribute their various skills to the project, in return for UCASH tokens. I find this rather unique and wonderful for I believe professional skills and personal time are very valuable. Having a token built on the sweat and knowledge of regular people around the globe, makes one fall in love with blockchain tech and decentralization.
The IBO distributed 8,634,828,329.05 UCASH Tokens when it was complete. This is the same number of tokens in circulation according to coinmarketcap.com. The total supply is 21 Billion UCASH Tokens.
When you compare U.Cash with Ripple (XRP) or Stellar (XLM), you begin to see that U.Cash has two competitive advantages over the two widely popular coins.
Firstly, it involved anyone with a skill to contribute in the project and rewarded them to do so. Therefore, there is bound to be some loyalty to the project by regular folks who participated. Loyalty is a good formula for HODLers.
Secondly, UCASH’s total tokens and those in circulation are lesser than those of Ripple and Steller. UCASH’s total supply is 21% that of Ripple and 20.25% that of Stellar. When you look at circulating tokens, UCASH has 22% of that of Ripple and 47% that of Stellar. The point I am trying to drive home is that the tokens have a lower supply and this will dramatically influence the value of the token with time as demand for UCASH services go up. I will not be shocked if we see a $1 value for UCASH.
Only time will tell if UCASH will sprint up to the top ten coins. This is an insane reality for the token is already ranked 23rd on Coinmarketcap.com and was only made available on one exchange (btc-alpha) on February 9th this year. I tend to believe the value will go up as more exchanges get on board.
UCASH will also set the tone for other finetech tokens about to break into the market. One can only speculate how Crypterium (CRPT) and Bankera (BNK) will perform once they hit the exchanges and have working applications for crypto-banking.
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