The best cryptocurrencies for the week are based on upcoming events and opportunistic purchase prices. Events that specifically produce large amounts of publicity or add utility to an underlying coin are highlighted to the reader as an opportunity to buy before the “news release.” This week is very exciting with ADX, DRGN, PRL, MTL, HIRE and BTCP all looking like great selections.
Preparing for the Week
This week is fairly relaxed with no futures expiration or events on the scale of the Dallas SuperConference. However, even during these more relaxed periods in the crypto space, there are still valuable buying opportunities. February was reviewed and the top percentage gaining coins analyzed, and the result was noteworthy. What did every top gainer for February have in common? The coin’s utility dramatically increased in value. LTC, BCPT, and DGD all found different ways of increasing their utility. Cryptocurrencies are fairly useless with if they cannot be utilized for anything. This week and the days after intend to establish the utility of many of the coins listed below.
There are a few worthwhile altcoins worth shifting immediate focus to; AdEx (ADX), Bitcoin Private (BTCP), Dragonchain (DRGN), Oyster (PRL), Metal (MTL), and Hirematch (HIRE). These cryptocurrencies have significant events in the following week or month that provide the next few days as ample opportunities to purchase into them if the investor feels.
AdEx (ADX) is a blockchain-based marketplace for advertisements. Currently, the online advertising marketplace is plagued with problems surrounding ad fraud, privacy issues, and consent regarding specific sponsored messages. AdEx is both a company and the name of the ADX cryptocurrency. The AdEx network has multiple layers. The first consists of the Ad Exchange based on Ethereum smart contracts. The ADX cryptocurrency is used within this Ad Exchange ecosystem to buy and sell advertising space.
ADX’s BETA was successfully released February 26, 2018, and has been received very positively by the crypto community. A working platform drives the value of the underlying token exponentially higher. ADX is implementing a better network and platform on a regular basis with the initial steps having occurred this past week.
What is so unique about ADX, is within this blockchain-based marketplace advertisers, can create ads and then place bids for them. The marketplace runs on the ADX token adding immense utility to ADX. This provides actual utility for the ADX token while having provided a significant amount of investment capital to build the platform and blockchain. ADX has previously partnered with companies like easyJet to place ads on their tickets. Even with heavyweight partners, ADX is trading at $1.30 per token with a market cap of $95.5 million.
ADX should begin their trend North in the immediate short term as they have already solidified partnerships with real-world companies and had a fantastic BETA released.
Dragonchain started off as a project sponsored by Disney. Soon after Disney undertook such a significant blockchain project, they lost interest in DRGN as they did not see a utility in it, and could not quite figure out what to do with it. Even having lost interest Disney’s proximity to DRGN should not go unnoticed. Disney’s teams build very solid projects, and Dragonchain was their first real venture into the blockchain.
DRGN is a blockchain-based enterprise solution to simplify the process of incorporating the blockchain into already existing businesses. DRGN looks to help already profitable businesses to bring the benefits of the blockchain to their company. Their specialty is either incorporating the benefits of a company-specific blockchain for the underlying company or helping them host an initial coin offering (ICO) to raise funds. DRGN is currently trading at $1.63 and was above $4.00 during the bull run in January. The total market cap of DRGN is $387 million making it an already noteworthy crypto in the space.
DRGN is in the process of hosting their first few ICOs while attempting to get added to major exchanges. Any successful ICO DRGN holds, or announcement regarding a leading exchange will result in a large pump in the price of DRGN.
Major speculation regarding DRGN’s first “big” exchange is taking place. Most notably it recently surfaced that Bittrex owns a supported wallet. 96 days ago Bittrex created a wallet specifically for DRGN. Speculation could easily lead one to believe a move like this was signaling the addition of DRGN to their exchange. However, nothing happened with the new Bittrex wallet, until two days ago. It may seem insignificant, but the transferring of one DRGN into the wallet demonstrates Bittrex is continuing to test it, likely meaning they are preparing to add DRGN or DRGN-based ICOs to their exchange. If this is announced in a formal manner of any kind, expect a significant increase in value from DRGN to occur.
DRGN is only traded on minor exchanges with the largest being KuCoin. The addition to a large exchange while they are releasing their first round of ICOs and implementing business blockchains would greatly increase DRGN’s coin value.
2018 should see DRGN trend North rapidly as they are added to a leading exchange and continue to release ICOs.
Money rotates to the “next best thing” in crypto on a daily basis. Recently ZCL forked with BTC, following this fork the price of ZCL plummeted as people rotated money to new opportunities – including the ETC airdrop. Oyster (PRL) is a great cryptocurrency, but their important news is occurring in three weeks providing a short-term opportunity to accumulate.
PRL specializes in providing methods for web hosts to profit from users visiting their sites. Most would assume the only way to profit is through paid advertisements. However, PRL has created a unique line of code on the blockchain that allows for the individual’s computer to contribute an unnoticeable amount of hashing power to the website. This will allow for the confirmation of transactions on the PRL network, providing a stream of income to the web host. The web host and individual are both satisfied as advertisements disappear yet hosting remains profitable.
PRL is on the cusp of accomplishing their goals. They just launched their testnet B. The Oyster blockchain uses a very minuscule percentage of the user’s computer for confirmations in transactions being sent on their network. Their testnet has demonstrated this is not only possible but feasible; imagine an internet without advertisements.
The next few weeks provide multiple catalysts for why PRL should be accumulated in the immediate short term. PRL has an airdrop coming up of the SHL token at a 1:1 ratio for PRLs held on April 6, 2018. The SHL token will not be sold through an ICO and is only being provided to PRL holders that have their PRL in a supported wallet or exchange.
Expect money sitting in the BTC, ZCL, and ETC airdrop/fork to rotate into PRL once these four have concluded by the middle of April. PRL also just completed a token burn reducing their total circulating supply by more than ten percent. In the following thirty days expect exchange support to be announced. Bittrex waited until six hours before the ZCL fork to announce support of Bitcoin Private (BTCP). As money rotates into PRL as the ‘next best thing’ expect the price to rapidly trend North.
At $1.30 per coin with a market cap of $95 million, this is the perfect time to accumulate prior to the entire market rotating holdings into PRL. PRL has an airdrop, token burn, functioning testnet B (almost at mainnet), and is the final of multiple airdrops/forks this month.
Almost every coin that gets delisted from Bittrex takes a plunge in price while fading into oblivion. However, Metal (MTL) will be the anomaly when compared to other delisted cryptocurrencies. The reasoning is because their delisting was due to MTL not having a functioning platform. Bittrex considers cryptos ‘useless’ or ‘inferior’ if they do not have a utility. MTL had no utility until they released their platform MetalPay. Bittrex provided MTL until the end of 2017 to complete a platform and create utility for their token. Dev teams do not generally abide by dates and if they attempt to the resulting product may have defects. Defects could cripple a platform which is why devs spend more time removing bugs than focusing on deadlines.
The result? MTL was removed from Bittrex in January, and the price plummeted consequently. MTL’s dev team completely missed the Bittrex deadline and was unfortunately delisted. However, two months following their removal they remain on Binance and recently announced their platform was ready. Their digital wallet – which will eventually have debit cards – was released. The timing was, unfortunately, two-plus months after Bittrex delisted them but it shows the MTL team is not deterred. The MTL team is very important and will be discussed further shortly. Bittrex may or may not relist MTL, but one thing is very clear. Unlike the majority of coins delisted by Bittrex, MTL is the anomaly.
MetalPay is the platform in which users will be rewarded to spend crypto and convert fiat to crypto. MTL is also are working toward a debit card that crypto can be deposited onto, very similar to LitePay but are having similar regulatory hurdles. If MTL is able to beat LitePay to a debit card feature, expect the price of MTL to moon. The one man who may insure regardless of timing and deadlines MTL succeeds; Marshall Hayner.
Marshall Hayner is the CEO and co-founder of MTL. He is also the co-founder of Stellar, QuickCoin, and Treesco. He boldly claims MTL is a payment processing platform that involves cryptocurrency in such a way that is may be compared to PayPal (for crypto). Hayner is a key player in the crypto space who will ensure MTL is successful even after a minor deadline based setback. Hayner stated, “You earn five dollars for sending me the $100 and I also earn five dollars for receiving them. When you send me $100, and when the payment clears I get $105, which means another five dollars in metal…and you also get five dollars of metal as well up to $1000 a month per individual.” What MTL will do is revolutionary, even for the crypto space.
Hayner is too important to let MTL fail, and with transaction fees plaguing crypto it is nice to see the inverse; being paid for using crypto.
Bitcoin Private: BTCP
The snapshot was successful along with the mainnet launch and release of Bitcoin Private wallets. Those who have their ZCL and BTC in wallets where they possess the private keys already have access to their BTCP! This should lead to a very strong launch for BTCP. Even with a strong BTCP, the value ZCL plummeted as most have shifted their focus to Bitcoin Private (BTCP).
The snapshot took place at a block height of 511,346 for BTC and 272,991 for ZCL. At this moment the snapshot was taken, and those holding ZCL and BTC in supported wallets or exchanges received a 1:1 ratio of BTCP. However, not all exchanges supported the fork, and those that did will be delayed in providing the BTCP to their trader’s wallets. Bittrex announced support of the fork in the final day with less than six hours to go. Those that possess their wallet private keys already have access to the newly minted Bitcoin Private.
Bitcoin Private has the privacy features of ZCL while incorporating the branding, blockchain, and name of Bitcoin. Most forks of BTC have become obsolete as BTC decreases their transaction cost and increases their transaction speed. BTCP will remain relevant as privacy features under the BTC branding umbrella is brand new (in BTCP).
Hirematch (HIRE) was first written about due to their likelihood of solidifying themselves as a major player in the freelance market blockchain niche. The blockchain is aiding many businesses and industries, and the recruitment industry is one that will see significant changes under the blockchain revolution.
HIRE’s ICO recently concluded providing 2200 HIRE per 1 ETH. The biggest issue was 1 ETH started at under $300 at the beginning of the ICO and peaked to over $1100 before settling at $900. If you purchased HIRE when ETH was $300 you would have received the same 2200 HIRE, but for a price of approximately $0.07 per HIRE ($300/2200 HIRE= $0.0733). However, most traders and investors purchased while ETH was trading at $1,000. This makes HIRE closer to $0.40 per HIRE. HIRE was just listed on HitBTC at a price of under $0.06 providing a unique buying opportunity under the lowest ICO price!
The HIRE team is the same team from Recruiter.com and has extensive connections in the recruitment field. Currently, they are also trading under the lowest possible ICO price with an alpha version and many news announcements coming shortly. HIRE very easily could be a “moonshot” as the addition to a major exchange, alpha release, or partnership announcement will send HIRE higher (very punny).
Conclusion: This is an Altcoin Christmas List
This week provides the perfect opportunity to accumulate many cryptocurrencies that are likely to produce above-market returns in the coming month. This is a Christmas List that will provide significant dividends in the short term. BTCP should be targeted as it is likely to land on KuCoin or HitBTC in the immediate short term. HIRE is available under ICO price on HitBTC and is yet to announce any “big” news. DRGN may be the biggest sleeper on the list with speculation pointing to an announcement from Bittrex becoming increasingly likely. ADX and their great blockchain-based ad platform should begin to pick up steam. PRL had a token burn and testnet B release and has an airdrop of highly sought after SHL coming up. MTL is led by one of the most notorious names in crypto and successfully launched MetalPay. HIRE has a team that has been enmeshed in the recruitment field for years and is available for less than their ICO price.
Utility creates exceptional value. As these coins increase their utility in the coming weeks expect their price to similarly increase rapidly.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).