Moonshot Week 6: Metal (MTL)
To read the fifth part of our Moonshot series, which focuses on KuCoin Shares, click here.
Each week BTCManager and the JaketheCryptoKing are going to explore a new moonshot opportunity. We are in week six of this moonshot experiment! With markets recovering nicely throughout February it seems like the rebound is occurring in full swing.
What is a Moonshot?
A moonshot is an altcoin that can truly “moon.” 200 to 300 percent returns are great but what about ten times your money in six months? These coins exist in the cryptocurrency marketplaces; they solely need to be found. Moonshots are very different than most coins as they are meant to be purchased and held. Most traders like doing just that, trading. Moonshot principles are very different. They are cryptocurrencies that you see their long-term value and expect returns of hundreds of percent. This week’s Moonshot; Metal (MTL).
March Crypto Atmosphere
March is jam-packed with major conferences (similarly to February) and the Chinese New Year having just concluded. Volume has been building daily for the past week, and the price of bitcoin has steadily been rising accordingly. The month of March should continue to provide many catalysts to boost both the price of bitcoin (BTC) and the entire cryptocurrency market. Moonshots and altcoins are more susceptible to volatility in either direction making a bullish trend in our current rebound a very good buying opportunity.
The masses tried to jump on the cryptocurrency bandwagon at the end of 2017 and to the dismay of many felt their first real correction. Many who have been in the space for more than six months have had returns of more than a few hundred percent. All of the leading coins (BTC, LTC, ETH, etc.) from the beginning of 2017 to the end attained returns over 1,000 percent. As a coin’s market cap grows rapidly, it is less likely to sustain that growth. The smaller market cap coins or ones suffering current negative news will have the highest likelihood of providing the “mooning” each investor dreams of.
From the end of January to the beginning of February BTC suffered one of its greatest corrections in history having fallen more than 70 percent since it’s high of almost $20,000. BTC bottomed out at a low of just under $6,000. Since this moment of panic, BTC has rebounded nicely. This initial rebound generally precedes a bull run in the entire crypto markets. To take advantage of this bull run make sure to be holding past moonshots; DBC, TNC, DRGN, PRL, KCS and now MTL.
This week’s moonshot is Metal (MTL). Their platform is built around the concept you should be rewarded for using cryptocurrencies and not penalized for it. Currently, transaction fees hinder the use of credit cards and cryptocurrencies significantly. MTL wants to reward their users for crypto spent instead of penalizing them for its transfer. MTL has had one fiasco in the last few months that caused the rapid decline in their value; Bittrex delisted them. Almost every coin Bittrex has ever delisted falls into oblivion, but MTL should be an exception.
The reason MTL was delisted was because of the length of time it took to release a working platform. MTL was put on notice that they had until the end of 2017 to have a working product on the market, or their token was going to be delisted. Bittrex wanted to ensure tokens on their platform had real utility, and without a working platform, there was minimal utility for the MTL token. However, that platform Bittrex was hoping for did come out. The problem was Bittrex had already delisted MTL, the market corrected, and here we are. Bittrex is considering relisting MTL now that their platform has been built, but there has been no final announcement regarding this. Expect a significant pump from MTL to occur if Bittrex relists them after this minor fiasco.
MetalPay is the platform in which users will be rewarded to spend crypto and convert fiat to crypto. They also are working toward a debit card that crypto can be deposited onto, very similar to LitePay but are having similar hiccups. One of the many reasons MTL will be successful regardless of their Bittrex delisting in the long term is their team.
Marshall Hayner is the CEO and co-founder of MTL. He is also the co-founder of Stellar (yes, that Stellar) along with QuickCoin and Treesco. He 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 major player in the crypto space who will ensure MTL is successful even after a minor dev team setback. A vital quote of Hayner was, “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.” Hayner is too important to let MTL fail, and with transaction fees plaguing crypto it is nice to see the inverse; being actually paid for using crypto!
Lots of Heavy Metal in the Future!
MTL is a moonshot because it is likely the price of $5.38 per coin with a market cap of $103 million rises sharply prior to March 15, 2018. MTL has successfully launched MetalPay with a beta version coming very shortly. Their founder, Marshall Hayner, is one of the more impressive people in the crypto space and there is no way he lets a failure go down on his resume. So what is MTL doing this month? They are the Title Sponsor of TokenFest in San Francisco! Want to guess who will be speaking at another event one week earlier? The founder mentioned above, Marshall Hayner, in Denver (Day for Crypto Conference). March holds many surprises, and even more publicity than the most individuals realize for MTL. They have a fantastic team led by one of the most well-known individuals in the space. Having finally released the platform Bittrex was hounding them about should provide ample room to trend North.
In analyzing the top-performing coins in February it became evident that when a coin has an increase in utility as LTC, DGD, and BCPT all did, their value pumps much higher. Currently, MTL has limited or no utility. MetalPay adds significant utility and likelihood of mass adoption; coupled with publicity from speaking engagements to sponsorships, will lead to huge returns bring MTL. It would not be surprising to see MTL, with their market cap of $100 million, approach the $1 billion mark following the implementation of MetalPay, awareness from publicity, and an increase in their token’s utility.
Major Updates on Prior Moonshots
Dragon Chain: DRGN
The week beginning February 26 had some significant updates for DRGN. It seems a Bittrex owned and supported wallet has had DRGN transferred into it, which could likely signal they are testing their platform to support DRGN or DRGN-based ICOs in the near future. This would be spectacular news for the value of DRGN in the short term if they were added to Bittrex. DRGN also has started hosting ICOs with one listed but not taking payment yet! DRGN should easily be able to break into some of the massive market cap of Ethereum by bringing blockchain solutions and ICOs to already existing businesses. Look for DRGN to continue to have a very impressive 2018.
Similarly, PRL has had some outstanding advances in the past week. They had a token burn of almost ten percent of the total supply (more than ten percent of the circulating supply) while also successfully launching testnet B. They are rapidly getting closer to removing all advertisements from internet sites and replacing them with more content! In exchange a very minor portion of the users hashing power will be used by the website to confirm PRL transactions. With an airdrop coming up in 32 days of SHL, a successful token burn, and their testnet B released, expect PRL to have a significant Northern trend beginning in the next few days and ending right before the SHL airdrop.
To the Moon, We Go!
MTL has major events like TokenFest, presentations, possible exchange listings, and platform development taking place in the immediate short term that make them a very high valued cryptocurrency. Their value should continue to trend North at a very bullish pace likely outpacing most of the large-cap cryptos in the space. MTL has the team, the platform, the concept, the community, and now all they need is a little publicity and some luck with relisting on Bittrex.
The other Moonshots should all continue to trend north as well as the markets continue their rebound leading up to TokenFest. This next two-week period should be exceptionally bullish if the volume of BTC continues to rise. If volume picks up grab as many moonshots as you can as they may all take you to the launch pad for liftoff.
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).
To read the entire Moonshot series, click here.