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Cryptocurrency mega-thread

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LennyHayes77 said:
Also what is a strong indicator of how high a certain coin may rise? If any at all?
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Circulating supply impacts how high a coin can go.

As the below example shows at the most basic level when comparing Matic to Solana

MATIC
Circulating Supply
6,211,590,053 / 10,000,000,000

SOL
Circulating Supply
272,637,122 / 488,630,611

Many other factors at play though when looking at tokenomics of a coin.
 
LennyHayes77 said:
Do we reckon MATIC is going to get much higher than it's been in the past 24 hours? High of about $3.15. That would net me about a 30% profit from my initial buy price but not sure it has the ability to get a whole lot higher.

Also what is a strong indicator of how high a certain coin may rise? If any at all?
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long term its going a lot higher.
 
This price action isnt very inspiring. A pennant formation is a continuation pattern, so downside is probable. Target to the upside is high 40s, while target for a breakdown is 20k. This could take some time to play out.
 

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Evolved1 said:
This price action isnt very inspiring. A pennant formation is a continuation pattern, so downside is probable. Target to the upside is high 40s, while target for a breakdown is 20k. This could take some time to play out.
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I’m going 17k. If comes down
 
Ok I grabbed a small bunch coins in this the last dip and now I wished i'd grabbed more at the price. It's the best smart contract chainblock project going around(imo).

Guessing game, what did I buy?
 

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He's actually not got it's tokenomics right in this one. There's no great swathe of whales that could potentially dump.



In summary Elrond is fast as ****. Blows some of the others away for speed and volume.
 
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Evolved1 said:
This price action isnt very inspiring. A pennant formation is a continuation pattern, so downside is probable. Target to the upside is high 40s, while target for a breakdown is 20k. This could take some time to play out.
Click to expand...
Accumulation does take time though. All news coming out about crypto since the crash has been very positive, building the hype train to the moon. Glassnode is showing some very good bullish trends, such as the increase in outflow off exchanges over the last few days and also increase in number of hodling accounts. I only see up from here, if we were going to hit below 30k it would have happened already when all the whales were moving onto exchanges. However, to validate all the above we do need to break above and hold above the 20 week SMA again.
 

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Bostonian said:
He's actually not got it's tokenomics right in this one. There's no great swathe of whales that could potentially dump.



In summary Elrond is fast as fu**. Blows some of the others away for speed and volume.
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Watching this now, actually quite informative. I had to shake my head at the claim the release of the wallet caused the explosive growth rather than simply the entire market exploding though.

They surely need to close those bridges to convert? The old tokens will need to be obsolete at some stage. Could really help, or hinder the price (may have no real effect either but no question marks over conversion don't help).

Also disagree with the no whales to potentially dump? if only a handful of wallets own most of the supply that flies in the face of that.

$2B MC is high but if it's faster, safer, and handles more volume than competitors it's onto something. Needs companies onboard properly rather than being a crypto traders play thing long term but that could be said for all of crypto.
 
burge13 said:
Watching this now, actually quite informative. I had to shake my head at the claim the release of the wallet caused the explosive growth rather than simply the entire market exploding though.

They surely need to close those bridges to convert? The old tokens will need to be obsolete at some stage. Could really help, or hinder the price (may have no real effect either but no question marks over conversion don't help).

Also disagree with the no whales to potentially dump? if only a handful of wallets own most of the supply that flies in the face of that.

$2B MC is high but if it's faster, safer, and handles more volume than competitors it's onto something. Needs companies onboard properly rather than being a crypto traders play thing long term but that could be said for all of crypto.
Click to expand...

The "whale wallets" he incorrectly labelled are actually exchange wallets, smart contracts for staking, token bridges, and team tokens locked until 2023.

So the FUD like spectre of this sizeable group of whales potentially hanging over the projects value line aren't quite how it's been portrayed.

I think it's got a fair bit of potential especially if it can out perform the competition in speed and amount of transactions it can process.

This is more a long term hold for me just to see what they can do with their tech. The tech is there though to be a strong player in that market.
 
Bostonian said:
The "whale wallets" he incorrectly labelled are actually exchange wallets, smart contracts for staking, token bridges, and team tokens locked until 2023.

So the FUD like spectre of this sizeable group of whales potentially hanging over the projects value line aren't quite how it's been portrayed.

I think it's got a fair bit of potential especially if it can out perform the competition in speed and amount of transactions it can process.

This is more a long term hold for me just to see what they can do with their tech. The tech is there though to be a strong player in that market.
Click to expand...
Righto, that's better then re: the potential whales dumping. The token bridges need to close IMO, circulating supply is an important factor so without really knowing that, there are question marks. I know a lot of crypto peeps don't factor in that kind of fundamental but that's what people say 'it's easy to make money in a bull market'. That stuff matters

The next stage for all of crypto is adoption. It's been around too long now as simply a traders plaything, companies need to adopt this tech soon. Having faster and more reliable tech is a really good space to be. Agreed there

My only issue with it is it already being $2B MC. Any project in the billions has more downside than up given the state of crypto and its real-world adoption. Not to say there isn't money in it, there probably will be but less upside. Even on the ASX I look to sub 100m MC, sub 30m if possible. That's where growth is found, not 1B+

So begs the question, what are people's real punt micro caps, if any?
 
A dip today is not unexpected, futures positions end today (which has historically seen a dip for a short period)
 

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