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QTUM Price

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QTUM Price 2020

QTUM (pronounced ‘Quantum’) is a multi-purpose next-gen blockchain platform. Initially created as a fork of Bitcoin and based on a proof-of-stake algorithm.

The current price of Qtum fluctuates around $1.71; the total market capitalization is $165,023,130 or 20,875 BTC, which makes Qtum one of the 40 most popular digital currencies as of January 2020. The circulating supply is 96,292,408 QTUM, while the total supply is 102,042,428 QTUM. The daily trading volume is around $276,109,006 or 34,928 BTC. The most active exchange that trades QTUM is Binance. 

The all-time high of Qtum, $99.87, was reached on January 7, 2018 – during the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of QTUM, $1.47, occurred fairly recently on September 24, 2019. Currently, the estimated ROI (return on investment) of Qtum is -73.31%, which means that $100 worth of QTUM bought at the time of the Qtum launch would not yield any profit today.

The price history of QTUM is a rather sad one. Right after its inception, an astonishingly successful crowdfunding campaign was held, where the funds necessary for the development of the project were raised in just five days instead of the planned thirty. Having appeared at the cryptocurrency market at around $5, QTUM soon went up to $17, and until the end of the year was fluctuating around two-digit values. Possible reasons for that include the appearance of Qtum on BlockShow Asia, as well as an appraisal post on a popular cryptocurrency website Cointelegraph. Following the two events, the price of QTUM went up by $20 in one day.

More and more popular media sources, such as Forbes, started commenting on the dynamic growth of QTUM, which led to a further increase in price. What was happening around the same time was the major uprising of the cryptocurrency market, during which Bitcoin and the majority of altcoins reached their historical highs. QTUM was no exception: in December, the price soared to $70, but in January, it outperformed the most optimistic predictions and reached an all-time high of almost a hundred dollars. 

After a tremendous rise came a devastating fall, the whole cryptocurrency market was experiencing a correction phase with a downtrend that dominated the industry for a very long time. The stagnation was especially heavy on the newly emerged altcoins, one of which was QTUM. The price started going down very quickly until it reached $13 again; in May, a short uptrend took over and lead to an increase to $21. Since then, however, the coin has been on a continuous downtrend with almost no bright moments on the price chart. By the end of 2018, the value of QTUM was only $2.33.

What is Qtum

Qtum, QTUM (pronounced Quantum) is a decentralized, open-source blockchain platform and Value Transfer Protocol led by the Qtum Foundation. The Qtum blockchain runs on a Proof-of-Stake (PoS) consensus mechanism and enables the execution of smart contracts on multiple virtual machines (VM).

Both conceptually and technically, Qtum can be considered a hybrid between Bitcoin and Ethereum. The blockchain was created by the addition of an account abstraction layer on top of a Bitcoin-derived codebase. Thus, sidechain integration is enabled with virtual machines such as the Ethereum Virtual Machine. The Qtum technology combines the best of both worlds by merging Ethereum’s smart contract platform and Bitcoin’s value-storing capabilities. 

Qtum took off in March 2017 with a crowdfunding campaign that was supposed to last for 30 days. Instead, in just 90 minutes, $10 million worth of QTUM tokens were sold, and the campaign had to finish early when the hard cap was reached in just five days. A total of 11,156.766 BTC and 77,081.031 ETH was raised, amounting to $15.7 million at the time. 

It is thus understandable why forecasts from the industry experts are not very optimistic. Even though technically Qtum is as strong as many other platforms in the industry, its current lack of significant partnerships hampers its growth. WalletInvestor considers QTUM a risky long-term investment and predicts a price of $1.371 in 2020.

QTUM (pronounced ‘Quantum’) is a multi-purpose next-gen blockchain platform. Initially created as a fork of Bitcoin and based on a proof-of-stake algorithm.

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