Welcome to the Weekend Altcoin Report.
In this Edition:
- Market Recap for the week
- Ethererm to +$10k in 2021?
- 5 Biggest Gainers this week
- Low Cap Pick for the Month
For the second straight week, Bitcoin is continuing to trade just shy of the $50k mark. The $50k mark is an important psychological level and it has been fascinating to watch the price tease this level for such a long time.
Bitcoin dominance is continuing to decrease (43.8%) giving way to other cryptocurrencies. We are also seeing the Top five cryptos continue to gain a larger percentage of market dominance, with Ethereum @18.1%, Cardano @4.1%, XRP@2.7% and others @18.7%.
Ethereum to $10k before the end of 2021?
Ethereum is currently trading at a price of $3,229. Earlier this year, on May 12th Ethereurm reached its all-time high of $4,362. Ethereum is a project that since late 2015 has provided an ROI of in excess of 700,000% and an all-time ROI of 113,941%
To ask the question - Is it possible for Etherurm to go up another 3x from its current price - Of course, especially if you take into account its past growth.
According to the Analyst that nailed Ethereurm's climb to $3,400, this very possible within the year. Megan Kaspar, who is the one who made the prediction believes that Ethereurm's move to the Proof of Stake method of confirming transactions will provide a 300% upside and offers a realistic projection of $10,000.
While in my opinion, its highly likely Ethereum will hit $10k, I am more interested in the emerging "Ethereum Killer" projects - they offer greater growth potential and subsequently, much higher ROIs.
TOP 5 GAINERS THIS WEEK:
The biggest gainers in the last week (top 100 cryptocurrencies by market capitalization). If you already own these, congratulations! Enjoy the ride.
Celo (CELO) @ $4.77 +53%
Launched in April 2020, Celo is focused on creating wider (cellphone) cryptocurrency adoption. This is the only project where the individual's phone numbers make up the public key. Founded by individuals from MIT, Stanford, Google, Square, Circle, Visa, World Bank and other well-known international parties the project has grown rather quickly with a ranking of 77.
Tezos (XTZ) @5.07 +36%
Launched in 2018, Tezos is a blockchain network similar in many respect to Ethereum. While I am not a big fan of Tezos, it has had some incredible gains. In May 7th of this year, Tezos reached an all-time high of $8.40. Today it is trading at $5.07.
Arweave (AR) @$37.57 + 30%
A personal favorite of mine, Arwave was also on the top gainers list from last week. This truly is a one-of-a-kind project.
First launched in August 2017 (under the name Archain), Arweave offers permanent decentralized storage. This project allows for the storage of data - forever. With ever-increasing storage needs and no direct competitors, this project is well-positioned for continued growth - as was already said last week.
This project is now ranked 72, from 95 last week. This project offers the potential for worldwide adoption and will likely continue to rise in the charts.
Revain (REV) @$0.014 + 23%
Established in 2018, Revain is a review platform for developers and startups to improve their products. Based on the Ethereum blockchain, this is the first project of its kind to combine blockchain technology with the features found on a traditional review site.
Two months ago, on June 14th Revain hit its all-time low of just $0.0003. Today it is trading at $0.014. It's worth noting that its all-time high was $4.49 (Febrary 2018) so there is a tremendous amount of volatility in this project. It is currently ranked #79, this project has the potential to break the top 50.
Enjin (ENJ) @$2 + 18%
First Announced in July of 2017, Enjin is an increasingly popular gaming platform that offers tokenized in-game items based on the Ethereum blockchain. Players have the ability to Play-to-Earn - an important gaming trend helping to fuel this coin's growth.
This token reached an all-time high of $4 back in April and looking to regain the ground it lost over the last few months.
Did you miss out?
How does your portfolio compare? There is nothing in the world like the cryptocurrency markets. These markets are live 24/7, highly volatile and offer investors some of the most extraordinary returns the market has ever seen. If you feel you missed the boat on Bitcoin or Ethereum, don't worry. There is no shortage of new and interesting projects about to hit the market.
Low-Cap Gems & Crypto Pick for this Month
There are literally tens of thousands of cryptocurrencies traded daily. Every day new projects enter the market. At Altcoin Investor, we are on the lookout for the most interesting projects with low capitalization that have +1,000x ROI potential. These are projects which may still be a little rough around the edges but have tremendous growth potential.
Crypto Pick for August (membership required)
Each month we pick 1-2 of these low-cap gems and invest in the project. We may not be right every time, but even if one of these investments turns into a 1,000x return, it was well worth it.
Few Last Words
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Until next time, trade safe and be legendary,