How is the development of the Balancer Coin (BAL).

[YOSHIE]

Usually before I take an action (investment), if I don't really understand the coin, I usually ask in this Forum, of course it's all to resolve my doubts about the coin.

Just get to the target of my question: yesterday Thursday, 22 October 2020, at the local trading exchange I had a new guest, the Balancer coin (BAL), if I check here: https://coinmarketcap.com/currencies/balancer/, looks good enough to do something (investment).

Before I go any further, of course you already know the investment objectives, so, if the member knows the coin first and has invested in it before, what is the best solution I can take.

Thank you greetings.

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[Coyster]

Hello Yoshie, you seem to be interested in altcoins for the past few months now, as I've seen you ask some questions about some of them for quite a while now, it's cool though, but you need to invest with some caution. Altcoins aren't really coins for long term investment due to how they can pump and dump pretty fast; I'll use DeFi projects as an example, majority of them have plunged so bad in the last weeks, and have lost their hype and value, this has led to users questioning DeFi if it actually has come to an end.

As for this Balancer coin (BAL), I've not really heard too much about it and despite the fact it could be doing well now, you cannot be very sure it'll continue like that, you can play around with it with a small amount of your funds for the sake of it. Finally, BTC is on a run now, I think you should rather consider increasing your Bitcoin portfolio, we could be heading for a new atm soon. Cheers Yoshie.

[YOSHIE]

Hello Yoshie, you seem to be interested in altcoins for the past few months now,

Yes, good question, buddy, I would appreciate (1) achievement.

You are right, I am not familiar with Altcoins, so far I only play with Bitcoin and Ethereum, the two coins I play, nothing else.

However, lately I often see Altcoins popping up on my trading exchanges, at first it looks fantastic at attractive prices however, after a few months the price drops uncontrollably, not the same as Bitcoin, much difference.

So, I have to ask and get new information about new Altcoins before I fall into the abyss, am I right.

As for the https://balancer.finance/ project, you have to do your own research, and only then decide whether you can trust it or not.

yes, you are right that it is quite difficult to predict new altcoins.

Thanks for the Link.

[lovesmayfamilis]

Hello Yoshie, you seem to be interested in altcoins for the past few months now,

Yes, good question, buddy, I would appreciate (1) achievement.

You are right, I am not familiar with Altcoins, so far I only play with Bitcoin and Ethereum, the two coins I play, nothing else.

However, lately I often see Altcoins popping up on my trading exchanges, at first it looks fantastic at attractive prices however, after a few months the price drops uncontrollably, not the same as Bitcoin, much difference.

So, I have to ask and get new information about new Altcoins before I fall into the abyss, am I right.

Today it is to identify a promising cryptocurrency very difficult. The fact that the price of many assets after the sale of tokens drops several times is already becoming a common occurrence. Here again, the awareness of investors plays a big role, who must choose the right projects.
All the rules for choosing such companies have remained the same.
The team should have professionals who have experience in creating such projects. Next is a technical document that contains all the information with clearly described tasks. It is important to have a roadmap that would show the development of the project.
It is also important to take into account all the value and uniqueness of the project itself, whether it can be profitable and whether the market really needs it.

As for the https://balancer.finance/ project, you have to do your own research, and only then decide whether you can trust it or not.

[Ezravdb]

I see BAL is already Listed on some of the top exchanges. Of course, it attracts our attention about the development of the BAL Project.  ATH BAL was recorded in August at a price of 37.86 USD.  If you want to enter now I think the BAL price is still high because the market situation is bullish.  30% of the money you hold if you are so interested In the development of COIN BAL you can order at a price of $ 11 that's just my opinion.

[Coyster]

It is also important to take into account all the value and uniqueness of the project itself, whether it can be profitable and whether the market really needs it.

This rule of thumb is one of the most vital when it comes to acquiring altcoins, most of them are reincarnated ideas that other project developers have used before and honestly many of them used those ideas to only scam investors, so with new projects adopting the very same pattern/model, they cannot be said to be original/unique or if it won't be another exit scam/failed project, plus if it won't only last for a pretty short time, more like pumping and then dumping after a few weeks or sometimes even less.

Thing is if the market/network doesn't need a coin/project, there's no way it can actually succeed, most especially in the long run, it can hold it's own for the meantime, but with time, it'll outlive it's usefulness it didn't even have in the first place, like I said before, I wouldn't consider many altcoins as long term investments. I like ethereum though, and they are about to launch eth 2.0, looks much better to accumulate eth, the eth network looks like it's up for a spike going forward.

[Slow death]

I researched the project as soon as I saw this thread, I think reading this thread (if you haven't already):

Balancer Liquidity Staking Voted Today - 400% APY

will give you an idea if it is feasible to invest in the project in the long term or not

when this post was done and this guy said this:

I am not a fan of all the astronomical increase in returns because they are not sustainable and all these would soon dried out. What we need are new people entering the space the game seems to be a zero sum now and the price should pump then dump after all these hype.

the price was above  $22 and reached $34 and dropped to  $12 and note the following: there are days that the price is at  $12 which means that this is the stable price and can fall even more given that even with this all the excitement of paypal that is causing the bitcoin price to hit the moon is not causing the BAL price to rise means that you can expect the price to fall and that at the moment few people are interested in this project. I would sincerely advise you to look for other projects

[Tytanowy Janusz]

Some FA for you:

BAL - $ 88 mln MC
Balancer volume - $ 5.7 mln

So we are talking about 15 $ MC per each 1$ traded daily

UNI - $ 630 mln MC
UNISWAP volume -$ 230 mln

So we are talking about 2.7 $ MC per each 1$ traded daily

So uniswap despite the fact that is priced way higher looks to be a better deal. But...

BNB - $ 4 400 mln MC
Binance volume - $ 16 600 mln

So we are talking about 0.26 $ MC per each 1$ traded daily

I know that bal and uni are DEXes and biannce is CEX but they both provide trading service that generate profit and profit is what investor should look at. At this point, BNB fundamentals are 10 times better than UNI and 57 times better than BAL. And fundamentals are what push price in long term. Currently BNB is evaluated at P/E = ~4 (average for nasdaq is 22). Defi (all dexes, swaps etc.) bubble just bursted and it will not stop after a month (or will burnst after next wave but this is gambling not investing). This bubble need to drop 90% - 99% and it will take at least a year. Currently these projects are not worth the price that you need to pay for them despite the fact that they are wonderful and groundbreaking.

Well thats what i have to say about investing in BAL. Of course, this is the simplest comparison and marked with a huge error, but it certainly gives an idea of ​​how overvalued dex coins are currently. You can always try to bet that second defi pomp will appear soon (gambling) or buy/sell based on chart (trading) but this is not investing.