Telecommunications Tokens Are Surging Just Like Stocks

Thursday 26 March 2020, 12:45 PM AEST - 6 months ago

Telecommunications Tokens Are Surging Just Like Stocks

Communication-related tokens have surged over 18 percent in the last week, following in the footsteps of Zoom and other telecommunications stocks.

Increase in the remote workforce

During tumultuous times, investors are eager to find assets that can provide shelter or a hedge from volatility. For many decades, this usually meant either gold or gold mining company stocks, since they tended to have a negative correlation with the rest of the market.

Over the last decade, many have been prophesying Bitcoin (BTC) as the new gold. During the recent crisis, however, investors have turned to the telecommunication stocks, with some Capital Hill investors ending up in hot water.

Source: CryptoSlate

The motivation behind this convergence between traditional and crypto investors in the telecommunications sector seems obvious — the expectation that an increase in the remote workforce will create greater demand for these services.

Need for privacy

Status (SNT), an Ethereum-based privacy messenger that is not included in CryptoSlates Communications sector, has gained 77% since the March 12 bloodbath.

Cointelegraph, Coinmarketcap

Source: Cointelegraph, Coinmarketcap

Johnny Zerah, head of marketing at Status, shared with Cointelegraph that currently, the second mo ...

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