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Repo Coin (REPO) has undergone a radical recovery in the three weeks from the bottom of the winter market, rising to 1437% growth since 15 December. The entire commercial action came directly from the decentralized exchange of the Stellar – Stellar DEX network, via the REPO / XLM pair.
The token, launched on the Stellar network, has risen in the first seventy coins by capitalization in recent weeks. So, what is Repo Coin and where does it come from?
What is the Repo currency?
The term "Repo" is not an extravagant attempt at a unique and captivating brand, but rather describes the simple and clear use case provided for this token. That would be the business of recovery, and in particular self-recovery activities.
The project's whitepaper begins with the assertion that the $ 1 billion self-repurchase industry is rising thanks to a sudden surge in new subprime car loans (which people can not afford).
Unfortunately, despite the increased opportunities, the repo business is not able to take advantage of the generous increase due to outdated and inefficient methods. This is where Repo Coin fits.
Blockchain steps in
The one-pager of the project says that the use of blockchain technology and smart contracts would revolutionize the automatic repo industry. It also offers other features such as license plate scanners, decentralized tracking of "delinquent" drivers and an online store where REPO tokens can be spent:
"… we aim to grow a large community of users to help locate delinquent vehicles on the road faster than ever before, and we will do so by offering license plate scanning and recognition software via the Repo Coin mobile app. , which will decentralize the process of identifying the resources that must be recovered ".
A revolutionary concept? Or something closer to the recently published Buggyra Coin Zero (BCZERO)? Well, one thing that probably can not be discussed is the statement by a pager that Repo Coin has a first mover advantage in the cryptographic based repo space. Other from the document:
"When a user scans a license plate, he will be compared to our real-time delinquent database, and our users will be encouraged by Repo tokens, which can be used to purchase goods and services on our website."
Without being too cynical, many recent posts on the Bitcointalk forum page of the project were vaguely enthusiastic comments on posters for the first time. This is a suspicious sign, given how easy it is to buy comments on online forums – but not entirely harmful.
Price REPO – REPO / XLM
All of the $ 25,000 REPO volume was split between the Stellar DEX and the Stellarport portfolio on Saturday, all through the only trading pair listed for the token – REPO / XLM.
The dollar value of REPO has risen by 70% in the last twenty-four hours, rising from $ 0.34 to $ 0.58, before a pullback of $ 0.45. This leads to three profitable weeks for the token where it grew by 1.437% in value, rising from a minimum of $ 0.037863 on December 15th.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
