I'm only going to do this once.
1 new project I'm bullish on and holding, and it's not my most ambitious project.
Requirements: Ethereum Coin, Metamask wallet, Defi knowledge.
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Max Supply 1 billion tokens. For an altcoin that is a low supply.
Strangely the current market cap isn't listed, but we can figure that out by calculating it's current value by it's total supply which would be 1,000,000,000 x $0.603469 so the market cap is = $603,469,000
It's also important to note, barely any of these tokens are circulating at the moment.
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With blockchain we can monitor each wallet. The top holder ( the creator of the token ) has 99.1364% of the max supply. Currently 1,670 holders.
Typically when we see this we DO NOT buy, as the top holder does have the power to basically rug the project by dumping his supply and draining out the USDC and ETH what have you used to pump the price of the token. However, that's not going to happen because the people behind the project are doxed, and pulling the rug will destroy the project.
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In short, pulling the rug on this will destroy him and everyone involved for life. Probably death threats class action lawsuits etc...
Why this...
Cardwallet is a cross chain cryptocurrency wallet that will deliver unique properties compared to the others, though this token is built on the Ethereum blockchain, the wallet has the Cardano blockchain in mind. It will house all Cardano based tokens, plus Ethereum, and Bitcoin.
Basically it will allow it's user to defi across multiple blockchains for cheaper than other automated market makers such as Uniswap and 1inch. It also gives the user the ability to off ramp directly to and from their bank accounts without any middle man. Which Defi coins will it have ? All of them on Cardano and Ethereum of course so basically all of the shit coins some of you invest in.
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Not everyone invests in this manner. The typical retail investor will wait for some hotshot to blow the horn and see if there is a lot of hype around something before they invest.
But in all honesty. This project..
- Has built in staking ( This means we can provide liquidity and make money every single day in our sleep )
- Cross chain swapping ( The Impossible made possible )
- On and off ramp between cryptocurrency and fiat without a middle man ( Insane, insane, insane )
- Ethereum smart contract support
- Cardano smart contract support
- 1 billion max supply
- Coinburn mechanism ( Yes this token will burn when a certain use case is implemented )
The wallet itself currently isn't out yet. Still in it's early adoption stage. Basically no one knows about it.
As for Cardano... Smart Contracts are coming Septemper 12, this is why ADA ( Cardano's native coin ) has been booming quite a bit as of late and went on to become the 3rd largest cryptocurrency in the world by market cap.
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Let's take a look at ADA...
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Current price $2.77
March 11, 2020 the price was $0.01
The blue box is a measuring toolk showing how ADA jumped 12,948.66% in 530 from that date, to it's recent all time high, which is just under a 300x. To put that into perspective. It that's turning $1 into $300, or $1,000 into $300,000 to 10,000 into $3,000,000.
Cardano currently has a lot of eyeballs on it, cause what it's doing now is a major threat to Ethereum and we're about to find out if it's really going to be faster and cheaper to use.
So Cardwallet, is going to be outstanding at what it does, and it's going to be a freak Cardano smart contract platform with more to come. The fact it can do the things it does will put it on the map and when the people start talking about it, they will come pouring in like ants, and the creator will slowly issue more supply into the AMM's and exchanges, just as they do with every other project. Basically, the majority holders of every single project were not the first to buy in, while the first to buy in benefit the most.
Comparing ADA to CW
ADA has a max supply of 45 billion tokens.
CW has a max supply of 1 billion, plus it can burn at times.
Scarcity really does drive up the value of projects and while ADA does have more steam in it granted what's coming in September, I personally think Cardwallet token will surpass ADA in value meaning it's looking at more growth.
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ADA's current market cap is listed as 89.7 billion. But that is incorrect ! With the total supply of 45 billion it's true market cap is $126,450,000,000 which is a very significant portion of the entire market, nearly 10% I think. ( Sometimes the coin listings have errors that are fixed later.
Back to Cardwallet.
Cardwallet has a staking mechanism we can use to earn more ADA. When ADA investors catch wind of this, they will go bonkers and buy the CW token for 2 reasons.
1. To get more ADA
2. by the time they are done staking CW, it will be worth more than ADA
And why will it be worth more than ADA ? Because it's low ass supply.
So if you have CW at 50 cents. You'll make your entire capital investment for every 50 cents it goes up. Will Cardwallet reach a market cap of 50 billion ? I can't say for sure but I don't see why not. Maybe $25.
Remember.
When investing do your own research. This is not financial advice, but what I do advise is, don't invest more than you can afford to part with in a short term. In any case It could take a year, or it can happen before or after you sell, or it could not happen at all.
In this space people don't really care how good the underlying technology is. That's why Bitcoin is still "one of" the most expensive assets in this space while being the literal least advanced blockchain. Mind you Bitcoin's blockchian is retardedly secure compared to the rest due to having the most hash power, but it comes to a point where security is so high there's no real difference with them.