Best Cryptocurrency Exchange Reddit

4 “Sure Bet” Cryptos Riding the SHIB and Loopring Mania

4 "Sure Bet" Cryptos Riding the SHIB and Loopring Mania
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This article was excerpted from Tom Yeung’s Moonshot Investor newsletter. To make sure you don’t miss any of Tom’s 100x potential picks, sign up for his mailing list here.

Bernie vs. Elon…and the disappearance of Mimi Quinn’s fluidity

Source: shutterstock

The battle between Bernie Sanders and Elon Musk took an unexpected turn for surrealism this weekend.

“I keep forgetting you’re still alive,” Mr. Musk tweeted.

When the Twitter verse turned its attention to the controversy, something else started to fade:

Even angles.

since friday, Shiba Inu (CCC:gray dollars) Its price is down another 5%. The Ethereum token is now down 35% since it urged investors to take profits last month. at the same time, reddit the favorite ring ring (CCC:LRC-USD) dropped to under $3, and seems unable to break through some artificial art ceiling.

But there is one thing that worries me much more than the price drop: a sharp drop in meme trading volume.

It turns out that trade volume is often a better indicator of meme performance than price action. when Dogecoin (CCC:DOGE-USD) peaked at 74 cents in May, and the decline in trade volume was preceded by its steady decline to 18 cents. The same was true for SafeMoon (CCC:SAFEMOON-dollar), FEG symbol (CCC:FEG-USD) and other famous coins that have returned to Earth.

Chart showing DOGE price and liquidity from April to present.

This is because when it comes to meme tokens, trading volumes are an excellent proxy for investor interest. Unless buyers pile in, prices will likely struggle.

As meme coin liquidity continues to drop, we’ll be taking a look at high-quality coins that can withstand (and even profit from) fluctuations.

Illustration of a Shiba Inu dog on the moon.

Source: Catalyst Labs / Shutterstock.com

The four symbols that enable the meme-coin revolution

Cryptocurrency commentators make investing very easy. Sure, the crypto candlesticks pointing upwards should translate into easy money.

In practice, buying esoteric cryptocurrencies is more difficult than it looks. Robinhood (NASDAQ:Hood) supports only seven ciphers, and COO Christine Brown has made it clear that they are in no hurry to add more.

“The idea of ​​investing in a meme needs a little bit of a situational adjustment,” she said in an interview. Hey ho! finance.

Even Queen Piece (NASDAQ:Currency), the largest US-based crypto exchange, supports only 120 different currencies. Investors looking to buy popular meme tokens – Floki Inoue (CCC:FLOKI-USD), LT network (CCC:LTO-USD) And network nerves (CCC:CKB-USD) – They are forced to buy elsewhere.

trust issue

So what should floki-hungry investors do?

For those who live in America, options are limited. Most popular cryptocurrency exchanges, from Binance to BitfinexAnd frankly US residents banned from setting up accounts – despite the emergence of a thriving industry of “verified” black market accounts to help the most daring.

At the same time, those who turn to smaller exchanges risk their money disappearing. In April, Turkey-based cryptocurrency exchange Thordex disappeared, along with $2 billion in investor funds, adding to the history of crypto scams and fraud.

This is where Decentralized Tokens for Finance (DeFi) comes in – an ecosystem that allows trading outside of the major exchanges. Anyone who bought the biggest one, Tera (CCC:MOON-USD), would have turned $10,000 into $770,000 this year. Some of the lesser known platforms have done better.

So, rather than asking, “How to buy a Shiba Inu,” perhaps a better question is “How to buy the sure betting picks and shovel plays that make SHIB possible?”

4 Sure-Bet to Buy for Meme Coin Revolution: PancakeSwap (CAKE): The Queen of the Binance Smart Chain

When it comes to popular Meme coins, the Binance Smart Chain (BSC) is the master. Among the top 10 most popular coins on aggregator CoinMarketCap last week, nine were BSC coins.

But how to buy tokens like Boom Sheba (CCC:Boom Sheba Dollars) or Microwatts (CCC:PETS-USD)? Major Binance Exchange stopped accepting new users in the US in 2019…

…and this leads us to Pie (CCC:Cake – US Dollars): “Queen” of Meme Coins.

PancakeSwap was launched in 2020 to help investors trade BSC tokens. And with a trading fee as low as 0.2%, CAKE is quickly becoming the largest automated market maker (AMM) in the chain. The current staking reward is 72% APY, although it is clear that investors will still face price risk.

CAKE is also a relatively stable code thanks to the peculiarities of large AMMs.

Market makers operate on a positive feedback loop: the higher the liquidity, the easier it is to trade currencies. This brings more liquidity to the pool, etc. Even if the meme tokens are temporarily slow, CAKE will retain its pricing advantage relative to other AMMs.

Uniswap (UNI) and Sushiswap (SUSHI): Ethereum token lords

Despite the high fees, the Ethereum blockchain still holds its own against BSC with successes including Shiba Inu and Floki Inu.

This brings us to the two largest AMMs in the Ethereum chain:

  • Uniswap (CCC:UNI-USD). Founded in 2018, UNI has become the largest decentralized exchange in the world, processing more than $2 billion in transactions daily.
  • Sushi Swap (CCC:Dollar sushi). This smaller AMM was the basis for PancakeSwap and shares nearly identical token.

Both codes look like PancakeSwap on a practical level: users connect their standalone wallet directly to the app and start trading. Both Ethereum-based AMMs also share a similar investment thesis with CAKE.

But there are some differences.

Uniswap is an ideal token for those who are looking to trade tokens cheaply (especially the more secret tokens). As the fees are paid in full to the liquidity providers (LPs), this incentivizes more liquidity providers to join and create markets for smaller cryptocurrencies.

On the other hand, SushiSwap distributes 0.05% of the fee to its holders. This makes it attractive to people looking to grow crops; Investors can earn 300% annually or more on this high potential token.

Crypto.com (CRO): Next in line to the throne of Robinhood

Although I have already written about the potential of CRO, the rise (and stagnation) of Loopring means Crypto.com (CCC:CRO-USD) deserves a second mention.

Hong Kong-based Crypto.com has one of the largest cryptocurrency groups available (421), outperforming Coinbase, Gemini and FTX. It has also become the most popular financial app on the Google Play Store, according to data tracking company SensorTower. This puts it first Boxes (New York Stock Exchange:mint) cash application, Google (NASDAQ:GoogleNasdaq:Google) Google Pay and PayPal (NASDAQ:PYPL) Mobile application.

In other words, Crypto.com is growing. The Crypto.com token has become a cryptocurrency to watch.

Much like Binance Binance coin (CCC:BNB-USD) and Bitfinix’s pregnancy (CCC:USDT-USD), the original coin of Crypto.com is designed to help investors trade coins. Taker fees can drop to 0.16% or less for large transactions.

CRO also has another use: running Crypto.com payments apps. These services, which include escrow and wallet functions, give the CRO real use in the real world (and this CRO service can reduce the trading fee to zero).

These innovative CRO implementations tell us one thing: no matter where cryptocurrency prices go, the success of Crypto.com will send its native token even higher yet.

Illustration of a shiba inu dog falling through the air.

Source: Catalyst Labs / Shutterstock.com

Meme coins with low interest

When Safemoon jumped 4.5x in October, it looked as if the previous meme cryptocurrency had regained its mojo. Reddit posts on r/SafeMoon have increased from 100 to 1,700 per day, and the community will be adding subscribers at a rate not seen since last May.

But just as quickly as the investor’s interest came… it vanished.

Trading volumes will collapse rapidly in the first week of November. $40 million… $20 million… $9 million… Volumes are now where they were in June and prices are down more than 40%.

Safemoon isn’t the only cryptocurrency that has seen volumes crash. Floki Inu now sees just $55 million in trade volume per day, down from $230 million at its peak. Loopring’s “buy rumor” spike quickly turned into a game of quietly passing hot potatoes to someone else: trading volume was down 87% in just three days.

Although these coins may return in the short term, history tells us that we are more likely to see a 50% loss compared to another 5x return.

Bottom line: Moonshot now recommends 50% profit at Floki Inu in addition to those already recommended at Shiba Inu and Solana.

How to buy Shiba Inu or Floki Inu?

Investors have often asked me how to buy these esoteric crypto names. Looking at a Shiba Inu price chart is one thing, but investing real money in it is another.

You deserve a good answer.

Currently, the two most popular global wallets are MetaMask and WalletConnect.

  • WalletConnect. The chain-neutral wallet was created in 2018 and supports both Binance and Ethereum tokens.
  • Mitamsk. The Ethereum-based wallet was created in 2016. A slight tweaking will enable Binance transactions.

These two wallets are generally considered to be quite secure. You are more likely to lose the account by giving hackers your password in a phishing scam.

But as with all cryptocurrencies, all wallets have an element of risk; There is no FDIC or SIPC insured. So my advice on portfolios is the same for all Moonshot investments:

Post your bets, never invest more than you can afford to lose and don’t be too mean with people you don’t know on Twitter.

Note: Want to learn more about cryptocurrencies? Feast? Options? Leave me a note at moonshots@investorplace.com or connect with me on LinkedIn and tell me what you’d like to see.

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Thomas Yeung is an expert when it comes to finding fast-paced growth opportunities on Reddit. He recommended Dogecoin before it soared over 8000%, Ripple before it soared over 480% and Cardano before it soared over 460%. Now, in a new report, he has named 17 of his favorite Reddit stocks. Order your free copy here!

At the date of publication, Tom Yeung did not (directly or indirectly) hold any positions in the securities mentioned in this article.

Tom Yeung, CFA, is a registered investment advisor with a mission to make the investing world simple.

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