KIN Token Resurrects After Teaming Up with Stellar – Becoming the Most Used Crypto
The KIN token is sold by the Kik app company, and it seems that the coin resurrected from the dead. By this, we mean that it managed to grow almost 70% overnight, reaching $0.000350 on CoinMarketCap. The token has been hovering at really low prices due to lack of listings on exchange platforms. KIN is currency four times lower compared to the peak prices that it flaunted back in December. Now, it looks like the volumes are eventually picking up.
One of the reasons for which KIN is looking better may be the additional exposure that it gets from the Consensus 2018 meetup in NYC where the KIN team will speak tomorrow, May 15.
What’s in store for KIN?
KIN recently revealed that it would exist in a dual-asset arrangement. KIN’s fate was also changed somehow by the whole experience of Jed McCaleb. KIN may become the Ripple for in-chat payments, according to expert opinions.
Chat apps’ popularity became essential for crypto tokens, and due to the cumbersome on-chain settlement and gas prices, integration is still missing. KIN currently exists both as an ERC20 token and as a high speed, semi-centralized asset that resembles Ripple.
The ERC20 digital asset will be preserved, and there is no migration or token registration scheduled. A new asset will exist in the chat ecosystem.
KIN is set to use Stellar’s technology to have its own network without gas fees. On the other hand, it’s already known that Stellar is the open-source equivalent of Ripple which is also used for experimental bank payments. KIN becomes a part of this family of assets with its Stellar connection.
More listings and a future integration into a chat app would boost KIN
KIN becomes more and more exciting, and future integration into a chat app will definitely have the ability to make the token even more popular.
“Our awesome dev team took part in the @kin_foundation Blockchain Hackathon and reached 2nd place! Want to know more about ClanPlay’s Marketplace for In-Game Actions? Visit us at http://clan-play.com and join our Telegram group http://clan.ly/telegram
#ClanPlay #getGG #Kin” the ClanPlay app posted on May 11.
KIN went up more than 73% in the past week. The KIN related project seems to be keeping its course while relying on decentralized exchanges. More important listings could definitely boost the crypto, that’s for sure.
Jed McCaleb is the CTO of Steller, which is an open-source, protocol for digital currency to fiat money. Prior to co-founding Steller, McCaleb was also the founder of Mt.Gox exchange as well as serving as the CTO to Ripple and is also known for creating Magic: The Gathering Online Exchange, and the peer-to-peer eDonkey and Overnet networks.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.