Syscoin (SYS) woke up in the past days, making another attempt at recovery. As the markets saw most coins in the red, SYS was one of the survivors, adding more than 13% overnight to $0.42.
!SYS!
This spring, SYS is not even halfway its peak against BTC. In April 2017, SYS reached more than 9,000 Satoshi, and currently hovers in the 4,000 range. In dollar terms, SYS climbed to above $0.91, but did not manage to break the $1 barrier.
SYS has shown a history of dramatic changes in volumes and prices, for increased volatility. Syscoin is a project that existed since 2014, as one of the first staking coins with masternodes. With sub-penny prices hovering at $0.0006, the growth for SYS has been one of the strongest in the crypto space, growing more than 1,000 times at one point.
https://twitter.com/syscoin/status/991947748223127552
Syscoin follows the path of older, resurrected coins, such as Verge (XVG), by updating its technology and sprucing up its marketing. With a new version, Syscoin once again tries to position itself as the peer-to-peer solution for businesses.
Syscoin relies on staking and masternodes to secure the network, while paying out a passive income in coins. Masternodes sometimes allow for the faster functioning of the network. The annual return on investment (ROI) for Syscoin is around 15%.
Trading SYS is still relatively inactive - most of the asset’s trades happen on Binance, against Bitcoin, and Ethereum (ETH). Around 1% of Binance trades belong to SYS pairs. But the project has a solid community, and with technological updates, may make another upward run.
The total supply of SYS is 888 million coins, but only around 500 million are in circulation. The masternode lockdown helps the coin’s scarcity. SYS has a market capitalization of around $288 million, but could easily join the $1 billion club, if it continues to grow in 2018.
This article appeared first on Cryptovest
