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NeosCoin (NEOS) Could Be A Great Short Term Crypto Trade

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It’s time to talk about NeosCoin (NEOS). This is a coin that was trading for no more than a penny a piece back in the middle of the year. It’s one of those tokens that sort of ran under the radar against a backdrop of the major coins appreciating in value but that, slowly, has crept into the consciousness of cryptocurrency traders and – especially over the last few weeks – has leaped into the spotlight.

Well, sort of.

At current prices, it’s still only sitting on a market capitalization of a little over $46 million and twenty-four volume comes in at around $3.6 million. That doesn’t sound huge but, again, we’ve got to look at how far Neos has come over the last few weeks alone, and this adds a little perspective to the current metrics.

NEOS Daily Chart

NEOS Daily Chart

So is this a sign of further appreciation?

Let’s try and answer that question.

First up, it’s well worth noting that this one is a relatively young project. Young, that is, in that it’s still in the early to mid stages of development. The coin that underpins the technology isn’t actually all that new, but what Neos is trying to do is still in buildout.

So what is it that the company is trying to do?

Well, it sounds grand – the company is trying to create a new version of the internet.

It sounds grand, because it is. Basically, Neos is trying to employ the decentralized features that a blockchain network allows for to build a network across people can share content, pictures, all that sort of thing (basically, anything that can be shared online) and is building out a front end to this network that is similar to the current format of the world wide web – websites, community spaces, content creation and publication capabilities, all that sort of thing.

So what’s driving the action of late?

To be frank, not a whole lot. Not a whole lot, that is, outside of what seems to be a huge boost ins speculative interest in the coin over the last couple of days. A look at the company’s Twitter hints at planned hard fork but nothing is confirmed yet and we don’t know any set timeframes for the fork in question. Despite this seeming lack of activity (we’re not talking about operational activity here, but more about a lack of communication in terms of fresh operational milestones being reached), volume (as mentioned above) is in the millions on the twenty-four-hour span, with early week volume hitting as high as $5 million worth of coins trading hands daily. When you’re looking at a coin with a market cap of $45 million, this sort of activity is really going to spark some upside action – assuming the sentiment bias is with the bulls, and it very much is here.

So this really does just look like some word of appreciating and – for us – that’s interesting. We often see this sort of action precede a much bigger run, as the major news outlets start to feature the coins in question in their biggest movers tables and – in turn – an increased (secondary) wave of speculative volume flows towards the coin. A sort of self-fulfilling bullish spiral, if you will.

Whether it’s a buy and hold at current prices is tough to say. The vision is there but there’s a lot of execution required to make it a reality. We’re not too concerned with that right now, however. What we’re looking at is this one’s potential for near-term appreciation and – in turn – its value as a short-term trade.

And from that angle, it looks great.

We will be updating our subscribers as soon as we know more. For the latest on NEOS, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Neos.

Bitcoin

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

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The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

Bitcoin has been crowned king of altcoins, probably because it was one of the earliest and most successful of its kind. The trendsetter has ushered in a wave of cryptocurrencies built on decentralised P2P networks and has inspired a growing number of followers and spinoffs. But is Bitcoin struggling to keep up with the newcomers who have made considerable developments to the stability, security, and usability of the crypto world?

The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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