Qtum is an open sourced public blockchain platform that combines the security of UTXO and enables multiple virtual machines (EVM, x86 VM and others). The platform is developed by Qtum Blockchain Foundation that's based in Singapore. Most of its programmers have experience working for Baidu, Alibaba, Nasdaq and other major companies.
The Qtum developers aim at improving the technology of Ethereum smart contracts by introducing master contracts. The project started in 2017. On the very first day of the ICO, it managed to attract $10 million in investments, and in less than a year, the cost of Quantum increased from $0.15 to $53.09. Such a positive financial dynamics attracts more crypto investors, which has a positive effect on the QTMUSD rate.
The price of Qtum will largely be determined by its popularity. Since its launch, the Qtum technology has been used by a startup called Agrello, the Zerion investment platform, and the Luna online dating service. Emerging companies using Qtum and new partnership agreements will be a bullish factor for the Qtum price.
When trading QTMUSD, it is important to consider fundamental factors. The introduction of restrictions from regulators, such as happened in 2021 in China when its regulators banned crypto trading and mining, negatively affect the cryptocurrency market.
Qtum is not a major cryptocurrency: its rate depends on the general market situation, the price of BTC and, sometimes, statements from more bigger developers. For example, Ethereum's Vitalik Buterin, called the UTXO a "technical dead end" and said that Ethereum developers would abandon this technology in the future. If the crypto industry abandons the technology, the price of Qtum will decrease.
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