Token Report Newsletter: Rogue Wave Warning
The reports of crypto’s death are highly exaggerated.
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Last week we investigated which Ethereum alternatives are gaining ground. This week it’s something different; we’re making funding projections. Using a ranking score method and previous performance of similar ICOs, here’s our projections for several public ICOs opening this month:
Only one of the ICOs above are projected to reach their hard cap, which matches a downtrend in the overall market for ICOs achieving their hard cap:
We’re going to be discussing theories about this decline, and are happy to answer any questions you have about our funding projections in our Telegram group.
Crypto Climate: 🌊Rogue Wave Warning🚨
The entire crypto market saw a near 15% rally in the second half of last week, which occured within a 1 hour time window. At 6am CST / 9am EST / 1pm GMT on April 12th, BTC/USD trades (most noticably on Bitfinex and Bitmex) saw record activity, and the price spiked over $1,000, or 14 percent. Behold the power of nature:
There were no warning signs or any contemporaneous event to explain this large swell in trade volume, which caused some incredulity; but it generated real profits nonetheless. Being aware that events of this magnitude can occur in crypto markets is important to remember, especially if you have any leveraged positions on exchanges. Don’t expect the impossible to remain so.
1 Short Read: Get Skin in the Game
Mining, buying, shorting, or ETFs — which is the best way to invest in the cryptocurrency and blockchain industry?
I say, none of the above. The best way to beat the crypto market is to join it. That’s right:
Last Week’s FOMO & FUD
You don’t have to believe any of it, but here’s what the Internet was saying about people and projects in crypto last week.
FOMO:
Salesforce co-founder Parker Harris says by September of this year, they “will have a Blockchain and cryptocurrency solution for Salesforce and for all of our customers.” — CoinTelegraph
Ethereum is the most searched-for cryptocurrency in India, according a study by Jana.com — BTC News Today
Baidu announced a blockchain-based stockphoto system called Totem — Finance Magnates
Ask.fm, a Q&A social network with over 200 million users, appears to be gearing up for an ICO — CryptoVest
FUD:
Long Blockchain Corp. was delisted by Nasdaq due to their market cap falling below the $35MM limit — Wall Street Journal
JP Morgan is being sued after customers say they were charged exorbitant fees for cryptocurrency exchanges — CCN
Metcalfe’s Law implies that Bitcoin still has $40 billion left to go in its drop from the $20k ATH, according to Swiss researchers — Bitcoin.com
Hydro-Quebec, the energy utility that drew many crypto miners to the region, is considering barring the miners from their cheap power in winter — Bitcoin.com
Spain has begun identifying crypto investors, with help from exchanges, in order to collect steep taxes — NewsBTC
Switzerland’s new cryptocurrency regulations, which were meant to “create clarity” and attract ICOs, are driving ICOs away instead — Bitcoin.com
Telegram is pondering whether they should cancel the public sale of GRAMs, the cryptocurrency to go with their Telegram Open Network platform — Coin Desk
Who to Follow:
“I am somewhat obsessed at the moment about security tokens and think that there is a lot of value to them. Don’t think of them as tokens. Think of them as the natural standardization and securitization of the world’s private assets into things that can easily be valued, transfered, and borrowed against. On the sell side people who are seeking capital get much more liquidity and access to new crypto wealth, the same way public listings bring that lower cost of capital to public stocks.” -Garry Tan, Initialized Capital. From TokenDaily
Token Report is an independent financial information service founded by Galen Moore and Peter Vessenes. Galen is a financial journalist with a background in startups, venture capital and launching news sites. Peter is a co-founder of the Bitcoin Foundation, and launched the first VC-backed Bitcoin company in 2011. He is managing director at New Alchemy, a boutique consulting and investment group based in Seattle, Wash., that is making a pre-seed investment in Token Report.
Nothing contained in Token Report materials or posted at tokenreport.com constitutes an offer or a solicitation of an offer to buy or sell a security, financial instrument, or other category of asset, or investment advice or recommendation of a security, financial instrument or other category of asset. Tokens involve risk and are not suitable assets for everyone. Token Report believes its information was obtained from reliable sources but does not guarantee its accuracy or completeness and accepts no liability for losses arising from the publishing of this information. The information provided by Token Report is not a substitute for financial, legal and other professional advice. Each individual should always consult his or her own financial, legal or other professional advisors and discuss the facts and circumstances that apply to the individual.
