Prior to the start of the year, the biggest joke in cryptocurrency was about lambo chasers. In other words, traders who expect overnight wealth, so they could call their nearest exotic car dealership and buy a lambo. While I’m sure a few lucky traders had the good fortune to time their buys and sells correctly to accomplish that goal, most of us still in the game are probably in a different situation with our tokens.
Most of us are probably HODLing bags of various coins that have fallen 90%+ since the start of 2018. And while most of these coins probably won’t rise back up to our purchase price, a few of them will. The best way to identify those tokens is to look at projects that have developed game-changing technology. I don’t mean “developing” as in promises. I’m talking about companies that have actually delivered on what they set out to do.
While the hype days are over, I believe there are 2 tokens which have the potential to make their HODLers extreme profits. This is especially true since the recent crypto crash has made these tokens extremely undervalued. The 2 tokens I am talking about are the Basic Attention Token (BAT) and Encrypgen (DNA).
Basic Attention Token (BAT)
Basic Attention Token is an open-source, decentralized ad exchange platform based on Ethereum. The token can be used to obtain a variety of advertising and attention-based services on the BAT platform through an exchange between publishers, advertisers, and users.
The digital advertising industry is currently facing a heap of problems that include the following:
- Users are taken advantage of
- Publishers are being crushed by Google and Facebook
- Advertisers are lacking the tools to efficiently target their audience
To combat these issues, the Basic Attention Token works in concert with the revolutionary Brave Browser. Brave browser is a fast, open source, privacy-focused browser that blocks malvertisements, trackers, and anonymously captures user attention.
Since the Brave browser calculates where users spend their time, it’s a great tool for being able to precisely determine which publishers should be rewarded. Rewards are then given to publishers with BATs. It’s really a win-win-win as publishers receive more revenue through the elimination of middlemen, users receive better targeted ads without the fear of malware, and advertisers will get a better sense on how to spend their money.
Now is really a great time to invest in BAT. The company has a token cap of approximately $200 million but was above $800 million at the peak. And the chart indicates that now may be the time to get in. The token has fallen in price by more than 50% during the past few weeks as the crypto macro environment has deteriorated. That being said, this is one of the few tokens that has delivered a product, is in one of the hottest industries, and is significantly undervalued.
In early November, Encrypgen launched the world’s first blockchain genomic data marketplace. This was a game changing announcement as the company can now begin generating revenues by bringing data buyers and sellers together through the Gene-Chain platform.
Through this platform, consumers and researchers will be able to transact with each other in a way that is beneficial to both parties, and Encrypgen. Consumers will be able to upload their genomic data, store it securely, and sell it at a fair market price. Researchers will be able to convert BTC to DNA tokens. And then use those DNA tokens to purchase genomic data. In the future, it is expected that researchers will be able to also convert FIAT to DNA on the Gene-Chain. However, because of the regulations involved in this, traders need to be patient.
Encrypgen is currently very active in the process of registering both consumers and researchers to the platform. As the amount of uploaded data sets increases, and the number of participating researchers grows, the DNA token is expected to explode in value. The current token cap of Encrypgen is just a paltry $1.4 million which, is laughable, as the company will soon achieve utility. To put into context the ridiculousness of the company’s current undervaluation, let’s look at a few other tokens that are running jokes in the industry:
- Verge (XVG) – $120 million token cap
- Dogecoin (DOGE) – $258 million token cap
- Monacoin (MONA) – $47.5 million token cap
Verge claims to be an anonymous and privacy-focused coin but hasn’t developed anything. The company has several credibility issues including the disappearance of over 18 million XVG coins from the Verge “fundraising” wallet that were sent to Binance, allegations of paid pumping by John McAfee, and “fundraising” efforts that have been successful only at taking money from traders.
Dogecoin is a peer-to-peer digital currency. However, when you go to the website, the homepage is filled with pictures of Shiba Inu, the dog “mascot” for Doge. There is almost no information available on what the company does. And even one of the Doge creators, Jackson Palmer, has warned against the success of Doge. A $258 million token cap is just bewildering.
Monacoin is a Japanese cryptocurrency. The company has one of the worst crypto websites I’ve ever seen. And on the home page, the following is said:
“Monacoin is a cryptocurrency popularized by the initiative of its community: it continues to be nurtured and built upon not by a core development team but by its enthusiastic user base. To give some examples, Monacoin users have brought up various kinds of Mona-based web applications and services, have erected shrines in appreciation of Monacoin, regularly play word games when tipping others.”
So token holders erect shrines and that means it is worth $47.5 million? Gee, that makes sense. Not!
The point of listing these joke coins is not to criticize them. At the end of the day, I couldn’t care less what coins are worth that I’m not involved with. But what’s troubling is how a project that erects shrines can be worth 30x more than a solid project like Encrypgen. I expect these mispriced valuations to correct in a massive way in 2019 and beyond.
It’s still uncertain what kind of year 2019 will be. I do expect cryptocurrencies to be trading higher than where they are now. But how high is anyone’s guess. Nevertheless, 2 tokens that I expect to generate massive returns are Brave Attention Token and Encrypgen. If traders get in now and accumulate a large enough position, they might become crypto’s next millionaires.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…