Crypto investors may be paying increased attention to today’s trading action. Examining the latest information, we can see that Telcoin (MORPH) has recently reached the $0.4301 level. Watching circulating supply levels, the currency has a value of 24,878,165 * with a market capitalization of 10,700,920.00. Over the last 24 hours, the volume reading is at 1,275,990.00. Scanning some historical price data for Telcoin (MORPH), we see that the cryptocurrency has moved -11.77% over the past 24 hours, and changed -36.64% over the prior 7 days.
Not only have Bitcoin and other cryptocurrencies been thrust into the spotlight, but so has the underlying blockchain technology. The pioneering technology depends on a continuously updating public ledger that records transactions. Blockchain allows for the processing of transactions without a third-party intermediary. Using this technology for peer to peer transactions lets the buyer and seller conduct business without the need of a payment processing company or a bank. Although there are many pros and cons associated, it is hard to deny that the technology has the potential to be an absolute game changer.
Although Bitcoin has dominated the crytpo space, there are plenty of alternatives looking to shake things up. Names like Ethereum, Ripple, Litecoin, and Gnosis have been attracting quite a bit of attention. It remains to be seen if any digital currency will ever come close to the popularity and market cap of Bitcoin. Many investors may be closely watching from the sidelines as the crypto markets continue to gather steam. Because of the overwhelming nature and plethora of unknowns regarding cryptocurrency, investors may choose to wait until the markets become more stable before jumping into the ring. As the focus on Bitcoin and altcoins sharpens, investors may be looking for much more information before taking any big risks.
There are some notable disadvantages with the use of cryptocurrency. One drawback is that payments are irreversible. This means that because there is no centralized processing center, it may be impossible to dispute a transaction and receive a refund for a purchase. A second drawback is that there are a relatively low number of companies that will accept payment using digital currency such as Bitcoin. Of course this may change in the future, but under present conditions, this may limit the options of the buyer. Another current concern is the loss of a digital wallet. If currency is stored on a mobile device and is lost or tampered with, it is likely gone with no authority to call and report to.