The last two weeks have seen the biggest loss of value in the short but colorful life of cryptocurrency. But don’t panic. This is a good time to scour the market for good projects at bargain basement prices. We are not talking about the projects that are based on hype and nothing much else. We are talking about projects that have a viable product that continue to grow adoption despite market conditions.
Projects like Get Protocol the blockchain smart ticketing business, CertiK the DeFi security platform and AdEx the blockchain advertising exchange.
When sense has been restored to the market, projects like ElonDoge, SafeSex Token and FuckElon coin are going to get crucified. It may be a way of making a quick buck now but please remember this is temporary, don’t be the one holding the bag of crap when the music stops.
So after those few words of insight let’s now turn our attention to our Micro Cap Watch List.
We decided to have a little clear out this week and introduce a few new projects.
View our Monthly Moonshot Portfolio here. Twenty researched and rated cryptocurrencies that are both undervalued and undiscovered.
Out with the old
We took a machete to our NFT selections. DMT and Loot seem to be a little wobbly with their strategy. DMT issued a hard to decipher update which in our opinion spells trouble. Loot on the other hand has turned its attention to issuing memecoins. We decided to ditch the majority of our NFT portfolio and hold onto RARI which is one of the quality players in this sector. We are still bullish on the NFT market but it is important to invest in quality as there are too many metoo operators moving into this market.
We also decided to remove Potcoin. The team have been promising exciting developments for months now and have failed to deliver. Having reviewed the cryptocurrency/marijuana sector we believe this is one of those things that sounds good on paper but in reality is unlikely to manifest in the massive adoption so often promised.
Why would a multi state marijuana dispensary offer Potcoin as a form of payment when a customer can simply use bitcoin or a crypto credit/debit card? Most of the coins in this sector we think are worth avoiding particularly as the future in legal marijuana payments isn’t cryptocurrency it is mainstream banking.
We removed Foam. This is a hugely ambitious project which makes sense and has merit. However we believe investors should focus on the chances of projects achieving their own moonshots. This makes projects like Foam high risk.
Internxt was one of our moonshots from the storage space. It is difficult to ignore the increasing complaints from users and the lack of communication from the team. Although the token price looks cheap it is probably one to tuck away if you already own it and keep an eye on it if you are interested in the sector.
Bitcoin Confidential the privacy coin doesn’t seem to have made any significant progress especially with the interest around privacy coins.
Earn Bet has seen a 166% increase in its price in the last week. We would suggest this is a good time to cash out.
Turtle coin has performed well for us having reached a market cap of $70 million at one point compared to the $3m at which we tipped it. We believe with a fully diluted market cap of $170m there are better opportunities in the privacy coin space such as PIVX.
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In with the new
CertiK – a pioneer in the blockchain and DeFi security space certifying many of the biggest projects in DeFi. It also offers massive growth potential with its DeFi insurance product. https://www.coingecko.com/en/coins/certik
LikeCoin – a protocol for content attribution, monetization and distribution. LikeCoin has over 80,000 people using its platform.
AdEX – stands for advertising exchange. It is a decentralized advertising platform used by over 8,000 advertisers, a number that is growing fast.
Now let’s look at this week’s top movers. Generally it was a marginally better week than last week with a few stand out performers, one of which we alluded to above.
Listen to our weekly podcast Moonshot Monday where we discuss three new cryptocurrencies that we believe offer significant upside potential.
This weeks Micro Cap Watch List
Now for some other developments.
This week we released one new podcast.
Moonshot Monday Q&A
We released the first in a series of ‘Moonshot Monday Q&A’ podcasts where we feature projects that have been tipped in previous episodes of Moonshot Monday. This week’s podcast was from the decentralized solar energy transfer project Candela Coin. This is a great opportunity to learn more about this interesting project and some promising developments since we last spoke to their founder.
This article does not constitute financial advice or a recommendation to buy in any way. Always do your own research and never invest more than you can afford to lose. Investing in cryptocurrencies is high risk, and you could lose 100% of your investment.
Have a great weekend and until Monday.