Table of Contents
In this report:
- Altcoin Story: $45,200,000 Investment Mistake?
- Top 100 Gainers: Immutable (IMX) +26% (7D)
- Micro-Cap Gainers: Iustitia Coin (IUS) +588% (30d)
- Monthly Altcoin Pick: The Altcoin Pick for October will be released next week!
$45,200,000 Investment Mistake?
Greg Schoen back in the early days of Bitcoin purchased 1,700 BTC for just over $100 and then sold them a while later for 30 cents each, making a decent profit of $410.
What Greg didn't realize is that if he held onto them for a few short years he would have made life-changing wealth. Today, that investment (even though Bitcoin is trading at less than 50% of its all-time high) is worth more than $45,200,000.
Greg's story teaches us it's not too late to get into the game, the key when it comes to blue-chip projects is to buy and hold.
Micheal Sayler, the CEO of Microstragy is gung ho on Bitcoin and it's estimated his company owns more than 152,800 Bitcoins as of August 1, 2023.
That's about $3.972 billion his company owns of Bitcoin with an average purchase price of approximately $26,080 per Bitcoin.
If you are looking to make money in the crypto market, there are two main ways people make significant wealth:
- Either by making short-term trades which is typically buying into the hype of a project (think Dogecoin or Shiba Inu) - which has a high level of risk, or
- Being that investor that buys into a solid blue-chip project and hodls (which carries much less risk).
As for Michael Saylor, he is betting long-term on Bitcoin and has over $3.9 billion invested so far, and while $5 million per Bitcoin today does sound like an incredible price, in 10 years time it may not be so unbelievable.
Whether it's Bitcoin or another solid blue-chip altcoin project, now is the best time to be getting into the market - while prices are still low and many of these 'blue-chip' projects are still significantly undervalued.
P.S.
There are also increasingly more 'passive income' opportunities within the crypto market with the development of DeFi and automated market making allowing individuals to profit from yield farming through staking (and liquid staking derivatives). This is a topic I hope to cover in more detail in the near future.
Join Us - As We Accumulate
If you would like to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in preparation for the upcoming bull run - You just need to become a member.
Richard.
Crypto Market at a Glance (7D):
Crypto Fear & Greed Index:
Today's Crypto Fear and Greed Index = Neutral –> Increased to 47 (from 43 last week).
The crypto fear and greed index is determined by human emotions - Fear and greed. These two primal emotions, play pivotal roles in shaping investors' decisions and the overall market sentiment.
Learn more about the emotional landscape of the crypto markets when it comes to fear and greed and how to safeguard yourself and your crypto investments from it.
Bitcoin & Ethereum Price Movement
Bitcoin has decreased 0.21% in the last week, currently trading at $26,601. In the previous 90 days, Bitcoin has decreased by 13.06%.
Ethereum has decreased 2.88% in the last week, currently trading at $1,596. In the previous 90 days, Ethereum has decreased by 15.1%.
Global cryptocurrency market capitalization has decreased to $1.05T (from $1.06T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Immutable (IMX) +26.8% - Ranked #46
Immutable X (IMX) is a Layer 2 solution designed to enhance the scalability of Ethereum for Non-Fungible Tokens (NFTs). It offers zero gas fees, and carbon neutrality, and can process up to 9000 transactions per second. The platform is secure and transparent, making it popular among NFT enthusiasts. Founded in 2018, it has received significant backing from major players like Coinbase. Its native currency is the IMX token, an ERC20 token that serves various utility and governance functions. Immutable X uses Zero-Knowledge Rollup technology to efficiently validate transactions on the Ethereum blockchain.
Aave (AAVE) +15.1% - Ranked #43
Aave is a decentralized liquidity protocol on the Ethereum blockchain that allows users to supply liquidity for passive income or borrow assets. The protocol is open-source, enabling third-party integration. AAVE, its native token, is used for governance and can be staked for additional security. Users should be aware of potential smart contract and liquidation risks. Transaction fees depend on the Ethereum network's status.
Curve DAO Token (CRV) +12.2% - Ranked #74
Curve DAO Token (CRV) is the utility token for the Curve.fi DeFi platform, which allows for the exchange of stablecoins and ERC-20 tokens. The non-custodial platform uses liquidity pools to offer low fees and low slippage. Curve DAO has unique features like automated market-making through smart contracts. The CRV token has value derived from its technology and use cases, and it can also be used for governance in the network. The platform is secure, with regular audits, and operates not just on Ethereum but also on the Fantom and Polygon networks.
Toncoin (TON) +10.3% - Ranked #10
TON (The Open Network) is a decentralized platform developed with technology originally from the social platform Telegram. Its native cryptocurrency is Toncoin, which is used for various activities within the network. TON offers a variety of applications, from wallets to cross-chain transfers, and has a robust community supporting its growth and development. The network emphasizes a decentralized and open internet for its users.
Biggest Micro-Cap Gainers in the last 30 days
Every week we review and analyze small and micro market cap cryptos looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
Best Performing Quality Micro Caps (Last 30 days):
- IUS +588% - 1st Layer Green POW Coin (Micro-Cap)
- $B20 +574% - Governance Token for DeFi on Bitcoin (Nano-Cap) - 2nd week!
- PZP +356% - Online Gaming (Nano-Cap)
- ZIG +198% - Copy Trading Platform DAO (Micro-Cap)
Monthly Altcoin Pick:
Next week we will release the next Altcoin Pick. If you would like access to this and future Altcoin picks, consider becoming a member - It's only the price of a couple of cups of coffee a month.
Altcoin picks are emailed to members as soon as they are published. If you are wondering how we choose our monthly Altcoin Picks - this is the methodology we use.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,
Richard.
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