What the Hell is SOLVE and Why Did Its Price Just Rise 70%?
Another day and another cryptocurrency decided to pump by over 70% today essentially doubling in price. Let’s talk about Solve.Care – a healthcare IT company – and its ERC 20 utility token SOLVE. Why in the world did the price almost double in the past 24 hours?
SOLVE is the native token for the Solve.Care platform, which according to their website is “designed to simplify access to care, reduce administrative steps and burden, simplify and speed up payments to healthcare providers globally using Blockchain technology.”
This blockchain based platform aims to bring transparency to the healthcare industry, something it desperately needs. Moreover, new regulations in the US require hospitals to list their prices online starting January 1st, 2019. This hospital price transparency rule is evidence that patient-centered healthcare is the new trend.
While here in the states we may not have free healthcare like in Canada, increased transparency may at least push us in the right direction when it comes to lowering the ridiculous prices that some hospitals charge. After all, if healthcare providers publish their prices online and there is a ridiculous discrepancy between two providers for the same procedure that will definitely raise some flags.
Solve.Care is not just another blockchain vaporware project whose goal is to raise as much money as possible. The platform has an app that allows you to interact with your personal healthcare ecosystem.
With the app you are able to subscribe to the Solve.Care Network and track your health / wellness daily and share the history with your doctor. The app is available for both the iOS and Android platforms.
While there are no specifics as to why the SOLVE price nearly doubled in the past 24 hours, we can speculate that it has something to do with a recent tweet sent out by the company. The announcement stated that there will be some major Solve.Care News on June 6th at 9AM EDT.
Be the first to hear tomorrow what the buzz is all about. It’s a big step for https://t.co/nYZJ9pMNHi and a giant leap for healthcare on blockchain!
Tune in June 6 at 2pm GMT+1 / 9am EDT / 10pm KST pic.twitter.com/9lFhyfDh9Y
— Solve.Care (@Solve_Care) June 5, 2019
As the saying goes: “buy the rumor sell the news.” There has been a lot of buzz lately about Solve.Care and the recent price action is not entirely surprising. At the time of writing, SOLVE is trading at $0.50 with a market cap of over $160 million, placing it in the top 60 cryptocurrencies based on marketcap.
Let’s get real here, should you buy SOLVE right now? Before I say anything let me just reiterate that this is not investment advice, I’m not a financial adviser, and this article is not sponsored by Solve.
Personally, buying SOLVE right now would be a risky move. It’s never a good idea to buy a stock or any cryptocurrency in general after it spikes, it’s better to buy on the way down and sell on the way up. As such I wouldn’t buy SOLVE right this second. Instead, if you are excited about the platform I would wait until the announcement as usually traders sell when the news come out.
It’s also probably better to wait for the FOMO to pass and for the market to stabilize before entering into a position for SOLVE. Moreover, if you do end up buying, expect to hold the token for at least a few months if you want to make any significant gains.
Most of the volume is currently coming from the Upbit exchange, so if you want to get your hands on some SOLVE that would be the exchange to use. Another decent option would be to use Bittrex or KuCoin as those exchanges also have a decent amount of volume.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.