Nexus (NXS) Is One Of The Most Undervalued Coins On The Market

Nexus (NXS) is a top 70 coin right now but we’ve taken a look at the coin and the technology that underpins it and there’s a real chance that this one could continue to make its way up the cryptocoin market cap charts as we head into the first half of 2018.

NXS Daily Chart

As things stand, NXS is priced at $8.93. At the start of December, the coin went for just $1.50 a piece and a market capitalization of around $83 million. This latter figure, market cap, is now up at $490 million.

Over the last twenty-four hours alone, we’ve seen NXS run more than 90%.

So why do we like this one and what’s coming next?

Let’s take a look.

First up, a quick introduction.

The company describes itself as follows: a decentralized currency project looking to distribute networks fairly worldwide via infrastructure such as cube satellites in space.

Forget that space thing for a moment. It’s neat and a USP (and certainly a good sound bite, given that the company’s founder has ties to Elon Musk) but it sort of diverts the attention away from what’s really important here – that Nexus is trying to basically take what Satoshi Nakamoto put together as part of the original bitcoin white paper and reinvent it so as to make something that’s truly decentralized, isn’t going to run into the sort of scaling concerns that bitcoin has, isn’t going to suffer from the security issues that many of today’s leading coins do and – basically – is a cryptocurrency and decentralized ledger that truly offers what bitcoin promised it might in the early days.

Again, this seems ambitious, and we’ve got to keep in mind right now that this thing is very much at project development level. The coins are available, sure, and the blockchain is up and running (of course, since the coins are trading and can be exchanged) but the real world application of the coins and the blockchain that underpins them is yet to be realized.

For us, however, that’s not too much of a concern.

We could have said the same thing about Ethereum a couple of years ago. Or something like XRP as little as six months ago. These things take time to develop and when you’re looking through the list of tradable cryptos in an attempt to sort the wheat from the chaff, you’ve got to (to some degree) be able to look past development progress and focus on what the successful execution of the company in question’s roadmap might mean for the industry long term.

And with Nexus, when you consider it in this light, it’s a real winner.

We aren’t saying, of course, that readers should disregard the nascent stage of any potential cryptocurrency investment. The less developed a coin or a technology is, and the less active it is fro a community and user perspective, all that sort of thing, the higher the level of the risk any investor is being asked to take on when he or she takes a position.

Combine that with the inherent riskiness of this space as a whole right now and the risk is amplified.

With that said, however, there’s also an incredible amount of reward on offer for anyone that is willing to shoulder a degree of risk in anticipation of their expectations playing out to fruition.

The action we’ve seen in NXS over the last few weeks suggests that there are plenty of traders and investors that fall into the latter category – those willing to take a risk – and this points towards strong sentiment going forward.

The bottom line on this one: a risky play, sure, but potentially an incredibly rewarding one.

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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 Nexus