DeepOnion Price Prediction and Analysis: Trading Volume and awareness increases! New designs and looks for the project. Wednesday, June 6
Important DeepOnion News
The upcoming Next.Exchange which describes itself to be "the new generation stock exchange for fiat, cryptocurrency, ICO and digital assets" has announced that once they go public this month, they are going to list ONION tokens.
WhitePaper v2 released
The documentation and whitepapers, containing all of the technical and business information about the project has just got updated. There are 47 pages of well designed graphics and easy to understand texts. In the abstract and beginning part one can read that: "Our Whitepaper defines the goals of the project and examines DeepOnion's Vision. We conduct a thorough assessment of the current ecosystem of cryptocurrencies by describing the blockchain innovations which back up this new cryptocurrency. It also presents how DeepOnion seeks to solve the flaws identified within the current system by implementing our latest technology."
Website V5.0 Launched
Moreover, this week the project seems to be coming through lots of cosmetic changes and the new designs are very appealing to the users. The official website was also redesigned and now gives a professional vibe about the project with new modern looks. You can easily read about the most important features of DeepOnion there like DeepVault File Guarantee, Blockchain Verification, Ecommerce Plugins, Highly Secure Transactions, Academy and Learning Videos and VoteCentral, which is a platform for stakeholders to help make decisions and proposals that will benefit the currency.
ONION Price Analysis
The price has been relatively stable in last days, fluctuating calmly around $1.25 mark. The most notable spike took place on June 4th, when in a matter of hours ONION jumped from $1.17 to as much as $1.35. I then stabilized again above $1.20 mark. June 5th brought some temporary lows as the coin fell to the slightly above $1 range, reaching $1.04 at the lowest point. Within a day it recovered and is now trading around $1.15. Looking at the 24 hour price change, ONION got -6%, however on the contrary the trading volume increased quite significantly, which means that more and more people start trading the coin. For example, while on June 2nd the price equaled $1.3, the 24h volume reached $30,000. On June 5th, despite the lower price of $1.16 the 24h volume exceeded $200,000.
ONION/USD Price Chart, Wednesday June 6th:
The increase in this cryptocurrency awareness and listing on new exchanges has lead to the increase in trading volumes, therefore a temporary lower prices shouldn't be worrisome for potential investors and for the brave ones may even be a great opportunity to get cheaper coins. The more people decide to get interested in DeepOnion the greater the demand will be, therefore we can expect some short term gains maybe to stabilize around the $1.5 region.
Looking at the historical data, last time ONION was getting high volumes in trading, the coin managed to reach as much as $2. On April 21st, 24h volume was equal to $337,109 and the price of one token was $2.35. But one has to take into the consideration that was also period when Bitcoin was able to reach above $9000 and even got close to $10,000. Therefore, when another bull market comes, ONION may have a chance at getting close to its all time highs, as it's much further in the development stage than half a year ago. So if it managed to get above $10 six months ago, this time it shouldn't be a problem. Does it mean that one could get 10x its initial investment if all circumstances are positive?
On the other hand, Bitcoin doesn't seem to be ready to pump the whole market once again that easily, so potential investors should look more into the short term development stages and features to be released which can affect the price. You can also read previous DeepOnion Price Prediction and Analysis to see how the price behaves and changes over a week period.
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