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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…