3 Cryptocurrencies with billion-dollar market caps to watch: Cardano, Binance and EOS
The purpose of this blog post is not to provide a review of the projects — there are enough of those online, this post is just to share my thoughts and opinion after taking a look and researching the projects, from a investors point of view.
This post is a follow up to my 3 reasons why cryptocurrencies with billion-dollar market caps should not be avoided when investing in cryptocurrency. If you haven’t read it, you can check it out here.
In today’s post I want to continue on and share 3 projects with market caps in the billions, or very close (depending on the market when you read this), that are worth watching. Here we go:
Cardano
Cardano entered the scene in 2017, well I should say exploded on to the scene in 2017, as when it hit the markets, it rallied from $700mln market cap to a whopping $30+ BILLION, in a matter of months. However, price action aside, what gives this project so much value? In my opinion it’s the quality of the team. The project is developed by an organisation called IOHK, headed by Charles Hoskinson, who co-founded ethereum and was co-frontman with Vitalik. If my numbers are correct, there are over 100 people in IOHK, who also work on Ethereum Classic.
This amount of brainpower and pioneering leadership to this degree, can’t be ignored. The quality is evident in their level of planning and execution of their roadmap, with multiple updates to cardano planned, scheduled and executed, way ahead in advance.
The fact that the leadership have a proven track record in blockchain, made a tonne of money already…a tonne of money, shows these guys are not in it for the cash grab, because they don’t need it. Cardano, in my opinion, is here to stay, and I personally missed the last train after watching it for months before it entered the market because I thought it opened up too expensive (go figure). I’m not going to miss the next one. This is one to watch.
Binance
Two letters…CZ aka Changpeng Zhao. Who is the CEO of Binance and Binance may I add, is a working project, that is live, has customers and demand — ahead of 99% of the projects in the space.
So my thesis is, you’re not investing in tech with crypto, your investing in the team and namely the leadership. For me, time and time again, CZ keeps evolving Binance and pioneering in the space.
From a $15mln ICO where other companies where doing $50–100mln ICOs, to launching in China, to moving to Malta before the crypto industry could catch up to where the best blockchain haven is. And the fact that he chose Malta, was such a smart move. It’s not a random island, Malta are used to controversial finance and welcomes them when other countries shun it. They’ve done the same with gambling.
Now CZ is on to launching a decentralised exchange (DEX), which will include tokenized securities, along with their own blockchain to power it. It’s clear he’s assembled a team that can execute and have developed a token model that is second to none. So bottom line is that CZ and the team at binance have proven themselves in crypto. My opinion is that they are building something that will be around for the years to come and certainly a project to watch as they look to launch a DEX and their own blockchain.
EOS
Now EOS has come under a lot of scrutiny. $7bln yearlong ICO, lack of decentralisation, the list goes on. The thing is, you have a number of camps in crypto. You typically have technologists, who want to change the world with blockchain tech, ‘Rebels’ who want to overthrow the government, banks, fiat currency and live & die by decentralisation, and then you have investors who want to make money in the midst of all of this chaos and don’t care what happens.
So most of this scrutiny is from the rebel camp or those with that kind of bias but the truth is, EOS is doing something different and developers are getting behind it. Not to mention the leadership with Block.One, who are the developers of EOS, namely the CTO Dan Larimer.
Dan Larimer who has successfully executed projects in blockchain already in Bitshares and Steem, although not perfect, are up, running and still in use — achieving, in my opinion, 200% more than almost all CEOs of many of the recent ICOs. He’s also been in crypto for a while and already made a tonne of money too. EOS may not be as advanced in their development as other projects, but as a smart contract platform, with experienced leaders who have track records of success in blockchain and a rapidly growing community getting behind the project. I personally think it would not be a smart move to write off EOS. For me it’s one to watch.
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Discover the right way (and the wrong way) to analysis hard caps and why a high hard cap is not always a bad thing, plus more, in my free guide: ‘7 Step Analysis To Quickly Spot High-Quality ICOs & Cryptocurrencies’. Get My Free Guide Here.
Disclaimer: Any information in my blog posts are for educational purposes only and are not to be taken as financial advice. The views expressed are my opinion only and are not paid or sponsored. Please remember investing in cryptocurrencies is very risky and you can lose all your money. Please consult your own licensed financial advisor and operate within the laws of your country of residence. I may or may not have positions in the cryptocurrencies mentioned in my blog posts
