Qtum (QTUM): Partnering with Starbucks Will Help in Strengthening its Market Position

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Qtum (QTUM) is a smart contract blockchain platform based in Singapore. The crypto was developed by Patrick Dai and Jordan Earls and is pronounced as ‘quantum’. Qtum works on Proof-of-Stake protocol where node operators are rewarded for validating transactions. Qtum is by large similar to Bitcoin’s UTXO transaction model; however, it has an added functionality of smart contract execution. Besides a crypto coin, Qtum is a business-facing platform as well, where various businesses are developed for all sorts of different tasks. Qtum allows its users to develop smart contracts and decentralized apps on a huge scale and It does this by inculcating the features of two of the world’s biggest cryptocurrencies; Ethereum and Bitcoin.

QtumAs on May 02, at UTC 07:34, Qtum (QTUM) has a market capitalization of 219,394,156 USD. The crypto is trading with a negative return on investment of 61.79% with a total of 89,439,488 QTUM chips in circulation. The current ranking of Qtum is 33rd in the cryptocurrency chart. Further, against Bitcoin, Qtum (QTUM) is at 0.00045249 BTC per chip. If you look at the monthly change in the value of the crypto, on April 07, Qtum was trading at 3.63 USD, whereas its current value is at 2.46 USD and today the coin is trading with a loss of 32.23%. Not to forget that the source of these numbers and data is CoinMarketCap.

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Yesterday was an interesting trading day for Qtum (QTUM), as the crypto opened at 2.44 USD and traded around the same value and surprisingly closed at 2.44 USD as well. There was a slight positive change of 0.001532 USD (0.06%) occurred in the Qtum. Nevertheless, there were fluctuations in the price as the crypto once traded at 2.52 USD but soon stooped to the level of 2.37 USD. However, a correction occurred in the price and Qtum reached to the level where it started the day. Additionally, the overall trading volume in the crypto for the previous day was 162,897,540 USD.

Qtum (QTUM) Price Prediction:

Although Qtum is a relatively stable cryptocurrency, the digital coin market is facing a recession, and a large number of investors are selling their assets. The adverse effect of the bearish trend can also be seen in the price of Qtum. On top of that, the crypto has to face stiff competition from giants like Ethereum. But, there is no need to be dis-hearted as Qtum is partnering with renowned franchises like Starbucks and 360 Finance. Qtum is negotiating an agreement with the giant coffee chain, which will help in strengthening its market position. And at the same time, it is developing a blockchain research center with the Chinese financial technology company, 360 Finance. As per crypto experts, Qtum (QTUM) might hit the mark of 5 USD by the end of 2019.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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