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Want To Be A Crypto Millionaire? 2 Tokens That Can Make It Happen

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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.

Encrypgen (DNA)

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.

Conclusion

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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AAVE Crypto Price Staggers Amid Mixed On-Chain Data

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AAVE price crawled back in the past few days even as the number of daily number of users dropped. The token was trading at $87.38, which was a few points above this week’s low of $83.44. It has jumped by about 70% from the lowest level in 2022.

AAVE mixed statistics

Aave is a leading non-custodial financial platform that makes it possible for people to deposit funds and earn interest. It exists across multiple chains like Ethereum, Avalanche, Polygon, Optimism, Arbitrum, Harmony, and Fantom. Its most active platform is about $6.1 billion. 

AAVE V2 has a total value locked (TVL) of over $6.2 billion while V3 has a TVL of over $997 million. V1 is much smaller with its TVL of more than $30.6 million. A quick look at on-chain data shows that the network is not doing extremely well. 

For example, the number of daily active users soared to more than 12 million in June 2021. The number of users has dropped to a low of 2.8k. At the same time, as shown below AAVE’s revenue has been in a downward trend. Its daily revenue peaked at $266k in October 2021 to the current $26.2k. 

AAVE revenue

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Cardano Price Prediction: ADA Forms Rising Wedge on 4H

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Cardano price has gone nowhere in the past two weeks as the recent bullish momentum wanes. The ADA coin was trading at $0.3875 on Tuesday, in the same range where it has been in the past few months. This price is a few points below the year-to-date high of $0.4057 and 62% above the lowest level in December last year.

The main catalyst for ADA price is news that Input-Output had launched the public testnet for its new sidechains. These sidechains will be interoperable with other blockchains. It will also be Ethereum Virtual Machine (EVM) compatible.

ADA price daily chart analysis

On the daily chart, we see that Cardano price has been in a slow comeback after crashing to a low of $0.2357 in December. Its highest point this week was along the lowest level on July 13. This means that the coin has found substantial resistance.

At the same time, the coin has formed what looks like a cup and handle pattern. This consolidation is part of the handle section. It has also jumped slightly above the 50-day moving average while the Average True Range (ATR) has moved sideways, 

A look at on-chain data by Token Terminal shows that volume of the coin has been in a downward trend after peaking at $974.4 million on January 10…

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Shiba Inu Price Golden Cross Nears Ahead of Shibarium Launch

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Shiba Inu price has pulled back in the past three days as the recent bullish momentum wanes. The SHIB/USD token was trading at $0.000013, a few points below the year-to-date high of $0.000015. It has jumped by more than 80% from its lowest point in 2022 as the golden cross pattern nears. 

Shibarium launch is the catalyst

Shiba Inu, just as Dogecoin, was started as a joke cryptocurrency prices were surging. It was created to compete with Dogecoin, which was gaining strong momentum at the time. Today, Shiba Inu has a market cap of over $7.6 billion, making it one of the biggest tokens in the world.

Shiba Inu has been keen to move past its meme coin heritage. In the past few years, the developers have worked to expand the ecosystem and bring more utility to the network. One way they did that was to introduce Shibaswap, a platform that lets people swap tokens and earn rewards.

They are also building a metaverse platform that will see people play games and trade non-fungible tokens (NFTs). Therefore, as part of this transformation, the developers are now building Shibarium, which is the next big thing in the industry.

Shibarium is a layer-2 platform that aims to make Shiba Inu’s ecosystem much better and faster than it is today. A layer-2 network…

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