I’d be remiss not to mention Factom has quintupled in price in the past month. I don’t have the slightest clue why nor can I shed light on what Factom offers humanity.
I can tell you it’s now the 35th top coin with a market cap of $150 million. Usually, meteoric rises like this are explained by: “It’s going onto Coinbase”. If that’s it, what happens to the other 2,000 tokens if they matriculate onto the Yankee Stadium of crypto exchanges. (Knicks fans: I had typed “Madison Square Garden” but edited it out; I didn’t want to offend CEO Mr. Armstrong).
It would be great if the Factom eruption signaled a return to bull markets in alt-coins but if it does, no one seems to have noticed. BTC & ETH continue to unimpress and in turn the entire marketplace is on its knees.
Of course, the new trend is once a coin goes onto a big exchange the move has a tendency to be over. I don’t have any opinion on the price of Factom but felt a “feel good” post would do everyone – or at least me – some good after a dreary few days, weeks, months of wrong-way price action. Cheer up: it’s the holidays.
A glance at Twitter tonight has Factom enthusiasts doing somersaults in the endzone. If we can only get Zeke Elliott to do a somersault in the endzone this weekend Factom might surpass Google. Kidding.