DeepOnion Price Analysis and Prediction: Chinese Nodes and Blockchain updates! Will ONION surpass Monero's XMR? Wednesday, May 30
What is DeepOnion
DeepOnion is sn anonymous and 100% untraceable cryptocurrency sent through the TOR network. The main feature of the project are stealth addresses: "Using a Stealth Address is a method by which additional security can be granted to a user of the DeepOnion wallet. It allows users to have the peace of mind that their transactions cannot be traced back to them. Stealth addresses are an incredibly powerful tool. They add more privacy, trust, and safety for users. With stealth addresses, no payer will know anything about payments you received from other people."
DeepOnion Important News
It's known that China technological market is very promising and it's worth taking it into considerations, especially when it comes to cryptocurrencies. Even though, the regulations and ICO situations are not in the best state, there are a lot of users and potential investors out there. DeepOnion decided to set up nodes around China, specially for their community out there, which made such proposal.
DeepOnion QT v126.96.36.199 update
It's very interesting that DeepOnion Blockchain is guaranteed by Bitcoin Blockchain. The hash is being periodically checked into the Bitcoin Blockchain so that they can be more secure, making sure the correct blockchain is loaded. There was an update with DeepVault fees, which is a a hash store used for file verifications. The community is responding very well for the regular updates, one of the user has written on their subreddit: "Regular updates are the best proof that this project is serious about its intentions to be one of the best out there!"
Onion Price Analysis
The tokens are currently being traded at Cryptopia, Bisq and KuCoin, when it comes to recognized exchanges.
Looking at the last 10 days ONION price chart, we can notice a small downtrend, which was most likely caused by Bitcoin's price fall affecting the rest of crypto market. During this time, the price didn't drop too much, which is a good sign, showing that the token can be resistant to the other coins influence.
There were few significant rapid price changes. On May 26th, the price jumped from $1.38 to more than $1.52 within few hours. The lowest ONION recently went was on May 28th, when it fell to $1.21 region. However, from that point on the price seems to have stabilized a bit and is now slowly going up. Currently, ONION token is trading at around $1.35.
ONION/USD Price Chart, Last 10 days; Wednesday May 30:
Undoubtedly, even at the early stage of project's development, DeepOnion has put a great focus in building a strong and devoted community. This huge userbase is the one which contributes to the current relatively positive price movements and general performance. The team is still doing a great marketing work, therefore once the project gets into the mainstream, not only old supporters but also new users looking for privacy will want to benefit from ONION tokens.
Technically speaking, the coin is very advanced and is able to offer greater protection than most of other similar cryptocurrencies. It's obvious that many holders are counting on reaching similar price regions of Monero and their main opponent is Verge. We can mention few comments about the price prediction to show the situation: "I don't think it will surpass Monero before a lot of work is done in coding, I am pretty confident we can do better than them though, DeepOnion is already superior to Verge in many ways. Besides that, there is still a lot of work to do to grow the community and keep it engaged. We all know the potential is there but there are always plenty of obstacles on the road to success"
The upcoming feature that many people are waiting is the DeepSend, scheduled for 2018 Q2/Q3. Any detailed announcements as well as releasing the feature will definitely impact the price.
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