Waltonchain (WTC) rose slightly on renewed hype of a partnership with Alibaba (NYSE:BABA), an event that has also served to lift the fortunes of TRON (TRX), at least when it comes to rumors. WTC rose by just 9% overnight, before sinking slightly, down to $11.50,
In April, WTC is one of the previously booming digital assets that still awaits renewed interest. But its relatively high price, combined with the project’s obscurity, limits trading volumes. Taken over the longer term, the price has mostly drifted sideways, and held up its levels against BTC.
!Waltonchain!
However, in the longer term, WTC remains one of the promising projects, for providing an entire ecosystem to serve transaction suitable for the Internet of Things. In the last few days, the Waltonchain project saw renewed hype regarding an upcoming partnership with Alibaba, the Chinese retail giant. It is unknown what the exact nature of the partnership would be, or even if it is only a rumor, but the hype was enough to add some strength to the WTC price.
Some believe WTC is due for a new price cycle soon, but volumes will have to indicate a return to this asset.
Unfortunately, more than 95% of WTC trading is still concentrated on Binance, and the project has not yet spread to other exchanges, unlike TRON (TRX), or Cardano (ADA). With less influence and diversity on the Asian markets, WTC is limited to the activity and pumps on Binance, increasing the chance for coordinated, rapid price movements on a single exchange.
All of this makes WTC promising, but also highly risky. The asset is also often getting overhyped on social media, adding to price volatility, followed by very low trading volumes.
https://twitter.com/GGCryptoClub/status/986545461220839424
The project has ambitious plans for the second quarter, but the partnership with Alibaba is still unclear. Additionally, the Waltonchain project fell victim to a recent attempt at creating bad publicity, by being mentioned in a faked partnership with a non-existent IoT firm.
This article appeared first on Cryptovest
