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7 Speculative Cryptos to Avoid as Focus Shifts to High-Utility Coins

Posted by Thomas Niel on Saturday, June 12, 2021, In : Technical Analysis 

Slide 5 of 8: MonaCoin never quite caught on among U.S.-based investors. But, as InvestorPlace's Brenden Rearick broke it down back in April, this Japanese counterpart to Dogecoin was another memecoin name that could have broken out into the mainstream. Unfortunately, it didn't. As seen from its price history, MONA-USD experienced a huge run-up during the last crypto craze, in 2017. But, in 2021? So far this year, it has traded sideways (it trades for around $1.96 today) and thats with the sharp increase of inflows into digital assets. It saw relatively lower levels of losses during the meltdown. Even so, don't take this to mean this is a speculative crypto set to take off anytime soon. Sure, it's been approved by regulators for transactional use in its home market; it has some degree of utility. Still, this usability is more in the novelty sense, as seen with Dogecoin in the U.S. But, it's far from being in the running to supplant Ethereum when it comes to more sophisticated transactions. 8 Tech Stocks That Are Helping to Build the Next Big Thing An enterprising crypto aficionado, with enough capital and clout, could theoretically help turn this into a more substantial force in the blockchain economy. Yet, for now, expect this to remain a more arcane crypto, well-known in Japan, but largely unknown everywhere else.
After last month's meltdown, what lies ahead for the cryptocurrency market? Coins with high utility such as Cardano (CCC:ADA-USD) and Polygon (CCC:MATIC-USD) have shown more resiliency at the expense of established coins, like Bitcoin (CCC:BTC-USD), and Ethereum (CCC:ETH-USD). And, for more speculative coins? They've attempted to recover as well. But, as the dust continues to settle, their prospects may be weakening. A large factor in the run-up in these names experienced up until the correct...
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7 Speculative Cryptos to Avoid as Focus Shifts to High-Utility Coins

Posted by JOSEPH ZOMAS on Saturday, June 12, 2021, In : Technical Analysis 

                                       Bitcoin, BTC, blockchain

                            What is Bitcoin (BTC)?

No one expected, in 2009, when the first Bitcoin transaction was completed, that by a few cents its value a dozen years later would exceed $60,000. Yet the leader of cryptocurrencies is gradually consolidating as it becomes an increasingly powerful institutional framework. With it of course "drifts" and the rest of the cryptoassets and combined have achieved a space capitalization of more than $2 trillion...


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