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July 24, 2024, 03:36:04 PM |
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A coin has potential when it has a product that generates profit, community support, or strong owners and partners. This is one of the keywords I consider when investing in a coin.
All reasons revolve around whether the project can push the coin's price up. If in 2017 and earlier, projects could make money just by selling on paper, then by 2021, projects needed to have substantial backing to have a chance of pushing the price up. By 2024, with everything becoming saturated and investors getting smarter by focusing on the core value of projects, there is room for many small projects to have opportunities this year. Especially with projects that are part of a new trend (as we can see, there are quite a few trends in 2024 😊). Projects that are merely on paper or lack core value will be eliminated.
Examples of valuable coins include TON, which has a strong community, and NOT, while there are countless coins without much value that I won't name.
Why does TON have value? TON's blockchain is quite old and slow compared to current blockchains. However, it gains value because Telegram allows payments in TON for advertising. This caused TON's price to soar into the top 10 largest coins.
So, what to do after this analysis? Of course, there's a lesson here, as I wanted to give an example for everyone to understand when a coin has value. The past can't be changed, but we can seize the present. I want to share about the Rammdex project. This project is quite new and promising based on my research. Here are a few reasons why I find it promising:
1. Product Value: This project is an exchange platform and already has a product. With an exchange platform having a cash flow, there's a high chance it can pump the coin's price significantly.
2. Community: Rammdex has gained a lot of traction, especially during the Airdrop phase. The airdrop attracted significant interest, and I noticed that Rammdex's token RDC was traded OTC during the airdrop, showing community interest and acceptance (if the community is not interested, there would be no liquidity or potential).
3. Investment Fund Status: This is both a downside and an upside for the project. Rammdex hasn't attracted major investment funds yet. Being too early can be a downside since having big funds can bring money and credibility to push the project forward. However, investing early means buying at a lower price and not worrying about heavy dumping from heavily invested projects.
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