The cryptocurrency market has been keeping us on our toes over the past week, with the surge of growth we’ve experienced recently starting to taper off. Over the past three weeks, the values of Ethereum (ETH) and Bitcoin (BTC) have both nearly doubled in value, following a long and gradual price dive that’s lasted since the beginning of the year. Finally, things are looking like a bull market is upon us – and aelf (ELF) is getting a head start.
At the time of writing, aelf (ELF) has a 24-hour gain of about 19% – compared to Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH), which are all basically flat right now.
Why is aelf (ELF) surging?
The best guess we have as to why this altcoin is soaring on the crypto exchanges right now is some hype that the aelf (ELF) team is building up on Twitter. In just a couple days, there is going to be a couple of big, back-to-back crypto events in Singapore – and they are tweeting a daily countdown until the first one happens:
The first even is the World Digital Assets Summit (WDAS), which will be a three-day-long affair, and the aelf Meetup Singapore will take place the day after – on May 4th.
Social media commentators are speculating that there will be some big announcement in Singapore, and that’s why they are making such a big deal about it via their official Twitter account – but it could absolutely also be an over-hyped announcement that leaves us all underwhelmed.
What news could the aelf (ELF) events bring out?
This is clearly just speculation, but we think the big announcement hypothesis may certainly be right. They keep tweeting the same phrase: “joining hands with our partners to bring innovation to businesses through blockchain.”
To me, it sounds a little like they may be hinting toward a new partnership announcement. Their mainnet isn’t expected until August 2018 at the very earliest, according to their roadmap, so it’s not as likely that they will make an announcement regarding that – unless they are moving up the date.
Either way, this product isn’t going live for many more months ahead, so this project is a little hard to write about – it’s pretty much just what the company has put forward that investors have to go on.
I guess we will have to wait another few days to find out what this big blockchain event in Singapore will spark – what do you guys think?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.