- Price $3.67
- Market Cap
Qtum is a relatively new project, only launching in 2017 as an open-sourced value transfer platform. The platform stands out from the crowded market by focusing on mobile decentralised apps or dapps, and was built almost as a bridge between both Bitcoin and Ethereum. This means that its functionalities allow it to be both a value transfer program, along with a smart contracts platform.
By combining a modified Bitcoin Core infrastructure with an inter-compatible version of the Ethereum Virtual Machine, something with a huge amount of potential value was created. The platform offers something that is both extremely reliable and with many possibilities for use. It is no wonder that its initial sale of coins was so popular.
It first launched as a crowdfunding campaign, with the campaign lasting either for 30 days, or until all the tokens were sold, depending on which came first. After just 90 minutes, over 100 million dollars’ worth of its tokens had already been sold. The campaign stopped a lot earlier than anyone thought it would, in total only lasting 5 days, and raised a total value $15.7 million. In cryptocurrencies, this was 11,156.766 bitcoin and 77,081.031 ether, with 51 million Qtum tokens being distributed to members of the public, making it the 18th highest crowdfunding project in existence so far.
Of the remaining tokens, 29% would be allocated as community incentives, and the rest to the early backers and development team.
The fact that Qtum is a the world’s first Proof of State (PoS) smart contracts platform helps to set it apart from other, similar projects. In the future, it aims to solve some of the many problems that both Bitcoin and Ethereum face, such as the fact that they use such a large amount of energy consumption.
In the beginning
When first introduced into the market, its value was pretty healthy, and one May 24 2017, it was valued at $6.19, setting the bar pretty high for further valuation. However, this high didn’t seem to last long, and the very next day in fact the value of Qtum tokens had dropped down to $4.66, a value that remained just about consistent for a week.
The fluctuation of Qtum value
Things started to look up again around the 1st of June, with the price of Qtum now reaching $7, a value which its investors seemed to be pretty happy with. Their happiness did not stop there however, as just the next day its value had almost doubled, with the value of Qtum reaching around $13.49. It successful held onto around this value for the following month, only fluctuating as low as $10 and as high as $14, which for a cryptocurrency as new as Qtum is pretty steady.
Unfortunately, after this initial high, the value of Qtum started to spiral downwards, starting on July 2 where its value fell below double figures again. By the 15th of July, its value was way below that of its opening at just $3.88.
This dip did not last long, and by the end of August the token reached new highs around the $19 mark, and although there were a few more drops throughout September, by the end of the month tis value had still grown slightly to $11.59, where it remained until October 22nd.
In December, its value finally rose to $20, but then it didn’t stop there. By the 15th, its price had risen dramatically, and was up to $30.54, and then just two days later was up to $51.85. If this wasn’t enough, Qtum then made history, as in just a short 24 hours its value had risen even further to a staggering $67.75, which is a huge leap in such a short space of time.
Like most cryptocurrency values however, this price high was fleeting, as although it remained almost consistent through the rest of December and through into January 2018, by the 16th it dropped down to $36.03, and then by April 9th its value was back down to $13.46.
The future of Qtum
It is difficult to predict the future of Qtum, but it has its uniqueness running in its favour, the fact that it is a hybrid of smart contracts and dapps. Given the fact that the platform was built using the best elements from some of the most popular digital coins, it is no wonder that investors are paying attention to this digital coin. Its partnership with Baofenf, a prominent Chinese video portal, is helping to create one of the most significant decentralised blockchain platforms ever built. This partnership should help Qtum to a achieve an even higher price in the near future.