We hope you’re enjoying our market and price analysis of top crypto projects. Our next project in the same series is Utrust ($UTK) trying to disrupt e-commerce, crypto and mobile payments. So, let’s begin.
What is UTRUST (UTK) Uniqueness? Major advantages/features
Utrust UTK was founded by Nuno corrreia, Roberto Machado, and Filipe Castro IN 2017.
The introduction of Utrust (UTK) was to solve the problems around using cryptocurrencies, such as a medium of payment, looking at the high fees and security of payment platforms. The platform guarantees secure transactions for eCommerce buyers, mobile money, and digital currencies and offers a refund option. While it equally protects the seller from high volatility in the crypto market.
UTrust is focused on developing fast and seamless crypto transactions at a lower cost and allowing merchants to access a more significant number of crypto holders.
Its payments platform will be creating a unique feature that combines the blockchain and traditional fiat systems.
2. Future of Utrust (UTK) Token & Utrust Roadmap 2021
- Significant partnerships/collaborations, progress made so far.
Utrust wants to integrate with Key International partners and develop a blockchain native payments ecosystem that bridges the gap between future money and traditional e-commerce.
- The crypto gateway company has partners who accept crypto for transaction purposes, such as Phone House, Arms&McGregor International Reality, Alternative Airlines, Travala.com, Diamond Cutts, Luis Onofre shoes & accessories, among others.
- Utrust (UTK) also partnered with Pundi X and uses XPOS technology to boost customer security.
- Another notable partnership is with The digital payment provider based in Switzerland Payrexx, which partners with Utrust as a crypto payment provider, exposing merchants to crypto payments.
- Utrust 2021 Road map Update
- Utrust’s tier-2 staking will be launched at an undisclosed date in ’21, alongside activation of the Utrust Burn-Mechanism.
- Utrust will be enabling crypto payments and crypto settlements for merchants and prospects.
- The team looks to improve the Utrust exchange mechanism for the HOLD Wallet App and Utrust, providing the best rates to customers and increasing business profitability. The HOLD wallet App’s connection to the entire crypto ecosystem is on the to-do list of the team at Utrust.
- Utrust intends to carry out regular security audits on the entire infrastructure.
- As a B2B and B2C payments gateway, Utrust looks to serve merchants whose customers are buyers and more towards cross-border payments in B2B, establishing a better B2b and invoicing solution.
- Functionality for UTK to other crypto conversions is currently under development in 2021.
3. Competition analysis: Where Does Utrust (UTK) Stand Among Other Market Players.
Utrust develops and provides a cryptocurrency payment platform for its users, but the crypto payment provider is not alone in the race to serve the ever-growing crypto users.
The Utrust project has a list of competitors in the space, including Bitpay, Coinbase Commerce, coinpayments, BitGo, Bitinex, Coinfy, itBit, Lykke, Geocoin, and Blockchain.
However, BitPay and CoinBase Commerce are the main competitors. Here’s a short comparison of Utrust Vs BitPay Vs Coinbase:
- Below are a couple of points highlighting areas where Utrust could outshine BitPay and Coinbase Commerce.
- Utrust has top-notch and robust customer support, with a 1hr 30min average reply per ticket, an area where the competition struggles.
- With BitPay, payments are similarly processed on-chain as Utrust.
- For crypto to fiat conversions, BitPay matches Utrust by deploying an automated process.
- Meanwhile, Coinbase Commerce stands no chance against Utrust in this regard as their crypto to fiat conversions are done manually at the time of this post.
- Utrust also looks into indirect competitors like Stripe and PayPal as some of their customers will shift to Utrust at some point.
- Utrust has an internal research team that looks into competition analysis, looking into user experience, fees, and other metrics from the competition.
With that being said, we believe that Utrust can overtake and be a couple of steps ahead of Bitpay and the rest if they can achieve the significant milestones for 2021.
4. $UTK Token Price Analysis and Projections
- UTK/USDT Weekly Chart Analysis
Following a higher time frame overview of the UTKUSDT, we observe that the native token of Utrust surged by roughly 285.7%, setting the ATH at 0.74, after starting the bullish trend on 04 January ’21.
However, the UTKUSDT recently trades within an ascending channel formed by opposing bullish and bearish divergence chart structures on 01 March ’21 and 15 March ’21.
The RSI trading above level-30 shows an increase in demand for the UTK compared to the USDT.
- UTK/BTC Weekly chart
The UTKBTC exits a prolonged bullish trend after a regular bullish divergence triggered on 04 January ’21. The RSI trades above the overbought area while the ten and twenty moving averages signal a golden cross.
Although the regular bearish divergence hints that Bitcoin holders may be moving some of their stashes out of the UTK token, we anticipate a resurgence of the uptrend if the UTKBTC trades near the 0.00000793 support zone.
- UTK token Yearly Price predictions
A combination of the UTKUSDT and UTKBTC shows that we should expect the UTK token to surge towards the 3.0USD round-number resistance area this year.
5. Is UTK token a Good Investment in 2021?
You wouldn’t want to miss out on an investment in the Utrust UTK token as it has vast fundamental backing in terms of its use cases, and the technical price chart still shows that there’s more room for growth to the upside.
Referring to our chart analysis overhead, we project the UTK price to set a new all-time high above the 2.7USD mark as the team rolls out new project features.
- UTK token Market Cap projections and demand/supply scenario
The current bearish divergence on the weekly chart analyzed earlier shows sellers taking out some of their gains from an increased supply.
However, the UTKUSDT price now trading near the MA-10 shows that the bulls should come back into the market, leading to a hike in demand for the UTK token, leading to roughly 5X increase in the UTK market cap.
An impending hidden bullish divergence pattern would reinforce the bull’s confidence to resume the uptrend and see the UTK token soaring into Q2 ’21 and beyond.