Monaco (MCO) was one of the few crypto assets continuing to grow as the markets slid. The coin grew by more than 10% on Tuesday to $9.67, possibly scaling the $10 levels. The Monaco card remains appealing and was presented at the Money 2020 fintech conference in Singapore. The card, which was unaffected by the WaveCrest troubles, is being tested in closed beta conditions.
Participating in user-friendly payment systems is one of the bids of crypto projects for mainstream fame and possibly price appreciation.
The dollar price of MCO has remained volatile in the past months, with peaks followed by fast corrections. The price in terms of Bitcoin has been flatter. At this point, MCO may see growth, but until volumes pick up again, that growth may be extremely fragile and easily wiped out by bouts of selling. So while the Monaco card product remains viable for now, the digital asset is on the riskier side.
Binance and Bittrex remain the largest markets for MCO, against Bitcoin.
Predictions for MCO price movements are contradictory as the markets give signs of hope, but low volumes and sliding prices suggest the period of booming prices is in the past. The MCO digital asset may benefit from the news of an official card launch for mass users, as well as an expected token lockup.
Make sure you buy some $MCO expecting more than one announcement this week possible beta realease plus some surprises, starting Monday Hong Kong time and throughout the week as they are a main sponsor at 20/20 money Asia. Anything between 70k-90k sats is a steal! #bitcoin#BTCpic.twitter.com/AohQnmXxFm
Mobile fintech solutions remain the most wanted niche for blockchain projects, as this would be the fastest way to reach users. Asian markets are already well-used to mobile fintech payments, and several projects are clamoring to tap that niche with crypto coins. For now, while mobile wallets are getting more widely adopted, the spreading of crypto payments for millennial mobile users is still in the early stages.