Factom Price Prediction and Analysis: FCT gets +14% in last 24 hours! DHS award for the project. Tuesday, June 19
Important Factom News
Last week Factom run their first hackathon, which main theme was "Blockchain vs Paper". They said that: "While for centuries paper has been the ultimate authority, we know it has limitations and pitfalls. The challenge was to take a traditionally paper processed experience or industry and show how the Factom Blockchain can create a more streamlined and paperless solution." The team of developers who won the main prize of $5000, found the solution to improve verification process of traveling overseas with pets. There were also projects who explored the possibilities of marijuana supply chain to track crops from farms to dispensary or database of vehicle data and logs. With 100 contributors, this event undoubtedly spread awareness and showed potential developers how Factom blockchain and technology can be used in various projects.
The Department of Homeland Security (DHS) with the Science and technology Directorate (S&T) have announced that they will award Factom to explore its blockchain technology and possibilities. The official statement says: "The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $192,380 to Factom, Inc., a start-up based in Austin, Texas, to begin beta testing of a capability that uses blockchain technology to secure Internet of Things (IoT) data. This award is part of the fourth and final phase of S&T's Silicon Valley Innovation Program (SVIP)."
FCT Price Analysis
Factom Token has made a great journey this week, as of June 12th it was trading confidently above $12, then it was heavily affected by Bitcoin's price Movement and fell first to $10 and then hit the lowest point on June 14th, when FCT was trading below $9. When the whole cryptocurrency market recovered a little bit and Bitcoin remained stable for couple of days, FCT found the stable ground fluctuating around $10.50 with only few cents of price changes in both ways. However, while the rest of cryptocurrencies are now starting to recover with +3% daily price changes, FCT managed to get more than +14% in last 24 hours. The token got from $10.54 to $11.92 in a matter of hours.
FCT/USD Price Chart, Tuesday June 19th:
It's worth noting that at one point in January this year, FCT was trading above $80 and as they have made a great amount of improvements and developments since then, this may suggest that in case of crypto market achieving again January's highs, there may be some notable price increases to anticipate when it comes to FCT. Looking at the price chart in the closer range, at the beginning of May the token was confidently trading around $30 and it seems that Bitcoin's negative price heavily hit most of the smaller tokens, which will be now recovering slowly again.
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