Elixir - A breakout in this bear market

Elixir

Elixir seems to have been testing support around the 1 USD range in the past days. But it seemed to have found a floor and is gaining momentum at the moment.

It seems like Cryptocurrency lending platforms such as SALT, Ethlend and Elixir gained a lot of popularity in the past few weeks.

What is Elixir?

Elixir is a mobile peer-to-peer lending platform. A crowd funding platform. And a sending and receiving platform all in one.

Elixir is not geographically restricted, unlike SALT, which is only usable by those that reside in the United States, Elixir can be used by anyone in the world. Elixir allows any kind of loan without restrictions while SALT has a limit of at least lending 5.000$.

Unlike on the SALT platform, you don't have to go through a membership review process because it the platform is decentralized. Also, you don't have to pay for the membership.

SALT is currently residing at a 691 Million $ marketcap, SALT is Elixir's biggest competitor and Elixir is sitting at a 28 Million marketcap while being a feeless and decentralized platform.

The upside on Elixir is very big and it could eventually even overtake SALT in market capitalization when their platform actually releases.

Elixir also incentivizes it's user by rewarding them with Elixir tokens for when they complete a loan.

On the trading charts it seems like this bear market hurt it's uptrend a little bit but the downtrend seems to have reversed as of now. It is currently trading between the 1.5$-1.6$ range.

If Elixir would be able to take over SALT in marketcap, one coin would be worth 25 times more as right now.