Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months. Those gains have created a much more enjoyable environment for crypto bulls. Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood. Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.
I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment. The ones that do will do so because they created a platform that has real world usage. After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).
Encrypgen Background Information
Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.
Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem that the public needs to be made aware of. The problem is that most genetic testing companies retain results for their own use so that the data can be resold to research and development companies. It would be better for people to retain control over their own DNA results and that’s where Encrypgen steps up to the plate.
Supply and Demand
One of the best things about Encrypgen is that the team has focused entirely on building the business. That means the team has been pursuing important research studies, consumers, and partnerships in an effort to build their platform called the Gene-Chain. The company is now involved in several active research studies and a future research consortium which are likely to add six figures of data profiles to the Gene-Chain. This should drive researchers to come to the platform, buy DNA tokens, and use those tokens to purchase genomic data straight from the consumers.
As we all know, the price of all investments is determined by supply and demand. Since DNA is a utility token, this supply and demand will come entirely from Gene-Chain usage. The more researchers that come to buy tokens, the higher the token price will go.
In approximately the next 30 days, Encrypgen will officially announce a new HODLING incentive program. With this program, token owners will be able to store their tokens in their Encrypgen wallet and receive a small percentage back of their tokens as “interest.” This will give tokens owners an incentive to keep their tokens in storage. This should work to decrease available supply. And, when researchers are buying the tokens in huge purchases, the price should soar even more than previously thought.
Traders should pay attention to Encrypgen’s website and social media channels in the next 30 days for details of the new HODLING program. This program is an excellent opportunity for token owners to increase their holdings (which have likely lost value since 2018) and help decrease the available supply which could result in significant price gains in the future.
Final Thoughts
I wrote an article earlier in the year proclaiming Encrypgen as my top altcoin pick. Since then, the company has made significant progress toward building its Gene-Chain platform and is now taken steps to reward DNA token owners.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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