Qtum is a hybrid project of Bitcoin and Ethereum because its development team comprises developers from both teams. The QTUM token is currently on an uptrend, just like the majority of the broader crypto market. This week has been especially good for QTUM after recording consistent gains.
In the past 24 hours, QTUM has grown by 7.57%. At the time of writing, it is trading at $7.57 on major exchanges.
QTUM Price Analysis
QTUM is one of the best gainers in the past 24 hours. The coin is trading at $7.57 after overcoming major resistance at $7. If the uptrend continues, QTUM might overcome $8 soon and move towards higher levels. A bull run will commence if an uptrend goes beyond $10, and this will trigger buying pressure.
Many investors are still holding on to their tokens with hopes that prices will rise again and recover from the sharp losses of the May meltdown. Going beyond $10 might trigger selloffs, and thus a price correction may happen shortly after.
On the downside, the token might fail to hold support at the current level, especially if the market support fails. This will lead to a retreat to around $6. Which is the position the token might gain stability again. Nevertheless, the current levels make an ideal time to buy for investors who want to leverage the short-term bull runs.
The Qtum network has potential for growth because developers created it from both Bitcoin and Ethereum. This means that the developers transformed the weaknesses of the two to build a network that was more scalable, faster and efficient.
Even though the network is not very popular as the other smart contract platforms, it still hosts several projects that show its potential to scale. Some projects on coin include Qbao social media platform, Beechat messaging platform and more. Increased adoption for the Qtum network means growing value and stability for its native token.
Where to Buy QTUM
If a user wants to get QTUM tokens, they can check on the following exchanges:
eToro is one of the most secure and popular exchanges. It allows users to access some of the lowest trading fees and offers user-friendly features. Moreover, eToro comes with a copy-trading feature and a demo trading account.
The second exchange that supports QTUM is Binance. Binance is licensed to operate in many countries, and it charges some of the lowest trading fees. Binance offers high liquidity because its trading volumes are high.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link
