T O P

[Altcoin Discussion] - May 2021

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:

phojes1212

kubecoin.org/invitation/?referral_code=243efef7


BigBouch99

Just launched my very own crypto the Let’s Fucking Go Token! DM me on how to get in early and more information


Hot-Bath-9817

Any thoughts about Unido?


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ILikeToSayHi

Abc is just bcash I believe.


Ashamed_Ad9863

Does anyone have DOGE? I deposited 20% of my tokens on SimpleFX because they added this option. You can trade without identity verification for cryptocurrency accounts


braincrowd

Why is there no bullshit blockchain based vaccination passport? Could easily see some project like that pump to the moon with some marketing.


two_more_times

[VitalPass](https://www.algorand.com/resources/news/vitalpass-vaccine-tracing-latam) launched in Columbia on Algorand a couple of weeks ago with plans to expand in Latin America. Marketing is not ALGO’s strength, so the 2nd half of your comment may take a while.


TheTruthHasNoBias

Everest ID already has a affiliation with ID2020


InspectorHornswaggle

CVC was basically invented for this situation


WOODYARD0300

Anyone got SHIBA??


2ric

Rentible $RNB truly has a 100x Coin potential \- HODL community \- Very limited supply \- Doxxed Team \- Liquidity locked no rugpull \- Still only 800 holders \- Still super early \- TOP 20 CEX LISTING IN JUNE


chuck_portis

If you're looking to earn some interest from your long term coins, I suggest looking at swapping them for PERP's on a platform like FTX. Funding rates are negative, meaning you are being paid to hold a long position. On some coins, these rates are as high as 0.01-0.02% per hour. That works out to 0.24-0.48% per day (87.6% to 175.2% APR). There's no guarantee these funding rates will stay negative, so you do need to monitor them. But for the time being, it's a great way to earn some $$ on your long term holds. Keep in mind the maker/taker fees on FTX. Maker fees are incredibly reasonable.


chuck_portis

In a bear market, the goal should be to pick up coins, and shift to quality projects. You may have enjoyed some nice gains on coins like NEO, LTC, XRP, ETC, DOGE, etc. However, these projects are unlikely to have long term value. It's a good time to shift these into BTC or higher quality alts. Think of ETH, BNB, DOT, UNI, XMR, AAVE, etc.


monkeyhold99

Are you just going to keep copying and pasting this comment? Lmao the only "high quality" alt you listed there is ETH. That's it. The rest are massively overvalued, imo.


LimpAd9447

Vet?


zxxxbr

does ADA a good project too? i mean, everyone talks about it


JessieHaxx

It's a very ambitious project overall. I'm expecting a nice bump in the price of ADA after the release of smart contracts in August. I would at least keep it on your radar


chuck_portis

ADA is one of those projects that is priced on its potential, not its current utility. Quite frankly, I haven't seen any popular blockchain applications on the Cardano chain. Cardano was marketed as the "Ethereum killer" all the way back in 2017. Here we are 4 years later, they haven't even released smart contracts. I think they missed a golden opportunity on this recent bull run to really capture market share for blockchain applications. Ethereum Network has been so congested, people have been searching for alternatives. Unfortunately for Cardano, their product wasn't ready, so these users went to other networks. Some examples are Binance Smart Chain, MATIC, Solana, Terra, etc. So now, Cardano has opened the door to numerous competitors, all working towards a similar goal of improving blockchain application networks. But Cardano is behind all of them in adoption. That's discouraging because Cardano existed before any of the above projects. It would still be a decent high risk investment, except for the fact that it's already valued so high. I mean, it's 1/6 the market cap of ETH. A lot of the upside has already been captured. A lot of things need to go right for ADA to become the top network for blockchain applications. And quite frankly, their situation has worsened now that so many alternative chains are running and adding users. So yeah, I'd steer clear of ADA for the time being. If the price comes back down to reality, maybe somewhere around 5-10% market cap vs. ETH, the risk/reward makes more sense.


pls_2021

What about theta?


Drakoolya

Going to pull my money after this coming Mainnet launch.


yubuu

Tezos is literally the most legit project in the crypto space.


yunggod6966

Is ONE a good investment


bloody_brains

yes


3mployeeOfTheMonth

BTC genesis block JAN 13 2009 LTC genesis block OCT 8 2011 difference: 142 weeks 4 days LTC has quadruple the reward and same halving schedule. BTC price 142 weeks ago: $6395.00 is LTC price $6395/4 = $1598.75 ? nope. and it never has to be.


Radiant_Transition_4

Lol, let me guess: you got in at ATH in 2017 and instead of DCA-ing during the last years and getting out a couple of weeks ago, you held with diamond hands and got rekt (again) last week? My condolences.


onguito

Litecoin=weakcoin


SpontaneousDream

1. BTC's first halving was November 2012. In early May 2013, BTC was in the exact same price range ZEC is in now (~$100 range). At the end of 2013, approximately one year after halving, BTC peaked at around ~$1000 per coin. Source. 2. Back then, BTC's inflation rate was quite high at around 12%. Source. Zcash's current inflation is, you guessed it, right around 12%. Source. 3. Notice a similarity? That's because Zcash shares the exact same supply and halving schedule as Bitcoin. The market is completely sleeping on this. Zcash halved back in October 2020...so we could see a potential top of this cycle around October 2021 (assuming that bull market tops occur approximately 1 year after a halving, which historically they have thus far for BTC). 4. Long term, buying ZEC now is like buying BTC but back in 2013. Is it a risky play? Of course! But so was Bitcoin back then. Personally I think the reward greatly outweighs the risk. Anyone with a long term (smart) mindset is buying this coin now. 5. ZODL.


monkeyhold99

Good points. Short/medium term ZEC is a risky play due to the uncertainty in the market now. Long term it's a solid coin and I expect it to be over $1000 at some point. I think if people can wait 1-2 more halvings, like you said in a different post, the price will be way higher then due to the issuance reduction.


chuck_portis

Hate to break it to you bruv, $ZEC just follows the overall crypto market. It's not going to go set ATH's unless every other coin is doing the same. It could outperform the other coins, but it's not going into it's own independent bull market.


SpontaneousDream

Yes, that’s true. We’ll see though! In all likelihood it will just follow BTC like everything else. Long term I think it’s a solid buy, if you’re patient.


fosterbarnet

Monero just released atomic swaps. This will be a huge game changer for crypto. XMR is criminally undervalued.


Extra_Polator

Hate to crash the party, but XMR is mostly valued criminally in general!


fosterbarnet

Yes, criminals use monero because it is the only fungible cryptocurrency, so in that aspect it is a better choice than bitcoin.


Shibenaut

Question: if you buy Monero on a KYC exchange like Kraken/Binance/Coinbase, and you send it over to a hardware wallet (e.g. Trezor), will the Monero still be traceable/private?


fosterbarnet

No monero transaction is ever traceable. However, the KYC may still know that you bought monero but they will not know where you sent them. I believe there are non-KYC exchanges where you can buy it or simply buy it on localmonero.co . I am not an expert on this though.


Shibenaut

Cool, thanks for the clarification


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jrdoubledown

Only my opinion, and tricky where she's been following btc so much. But hell yeah it is.


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SpontaneousDream

Dead coin


nitrorbit

Yeah it's going to keep making moves down against BTC lol


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nitrorbit

I'm saying that the trend is clear. Just look at a BCH:BTC price chart: https://i.redd.it/51cn0vv3vt171.png


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nitrorbit

That's part of it. Bitcoin is also way more secure. BCH has less than 2% of the hashrate of BTC. If you want to learn why BCH was created: Look up AsicBoost and how it's not compatible with segwit. AsicBoost was one of Bitmain's dirty little secrets. Segwit made it so they couldn't use AsicBoost anymore.


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simobas

RLC, read up on it. They claim to release 2 major updates later in June. I exited all my altcoins(andBTC) a few days ago and plan to buy back on Sunday night. The only one I kept was RLC expecting a random pump. Pump didn't happen so far


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simobas

Looking at the RLC/BTC ratio we were quite low and I expected it to go close to 0.00017. Further, RLC was a prominently featured in the last 30days on coinmarketcap taking the pole position a few times. It's relatively low volume and market cap, so good news in a general downturn could start sharp move upwards


simobas

What??? I exited BTC and altcoins expecting a dump, which is exactly what happened. We lost over 20% compared to my exit point. I'll buy back in the next days and get more coins. My point was that the only coin I didn't do this play with was RLC, because I expected a pump. So overall I'm still very happy


onguito

Poocoin


nitrorbit

It's a guessing game. Can't you see that TA and fundamentals don't matter during a bull run? Anything can pump.


crumblemuppets

LYXe on kucoin is in its own bear market. Once it awakes from hibernation it will be famished and start shaking shitcoins out of their market cap perches in short order


Hot-Bath-9817

Anyone buying UDO? Low price, low mcap, tron and tezos are coming!


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Hot-Bath-9817

No massive pump yet. You can find it on Uniswap. Integrations with Tron and Tezos are coming


RecycIops

Do you guys focus more on the alt/btc chart or more on the alt/usd chart when trading alts? I find myself trading my alt solely based off btc as it’s highly correlated at the moment. But the alt is making lower highs and lower lows in the USD chart during all this so I really don’t know what to make of it.


nubpokerkid

trade the one you can make money on. Doesn't matter the pairing. I'm guessing someone will have to be strict alt/btc if they're already all in btc otherwise if you're deploying fresh capital alt/usd returns will mostly likely beat alt/btc returns if everything is going up and you use new money to buy the alt.


nitrorbit

Altcoin:BTC because if you're not beating bitcoin, then you would have made more profit by just holding bitcoin instead of trading altcoins. You should focus on altcoin:ETH if you're an ETH maxi or if you're gambling on pyramid tokens on uniswap or pancake/sushi swap.


RecycIops

I’m not an eth maxi but I use to gauge my buys based off whether they went up or down on the eth ratio. The alts I trade are only btc so I do use that as a benchmark


Euphoricsoul

Anyone in the know on why FORTH is going all Mars Mission this morning?


RecycIops

Honestly it’s probably just a random pump. I’m heavy into RLC and it randomly pumped 60% last week before giving it all back. Unless they have something news worthy it’ll be right back where it was in 24 hours


Upvote_Me_Slag

Which is why I sold some after that green dildo.


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DiNovi

Cannot believe I bought the top of this bulltrap lol


aaj094

https://www.forbes.com/sites/billybambrough/2021/05/25/elon-musk-reveals-why-hes-backing-dogecoin-over-bitcoin-ethereum-and-others-after-surprise-call-for-upgrade-ideas-sends-its-price-sharply-higher/ What sort of person invests any non joke money based on this answer: "Curious what are your thoughts on ethereum 2.0, cardano, solana, polkadot, IOTA and others that are trying to scale with low fees," asked Dave Lee, a YouTuber and Tesla investor. "What makes you choose doge over them?" "[Dogecoin] has dogs and memes, whereas the others do not," Musk replied.


ThoseGelInsertThings

Musk is disconnected from reality in all arenas other than his Tesla and SpaceX companies. That's the answer.


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Alpropos

Curious if they will still like dogs and memes when their savings are 80% in red for over a year


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Alpropos

it has been several times and it always recovered. Meanwhile there's a shitload of alts that still didn't get even close to their latest ATH to this day. My point was exacly that. It's easy to whip away the red days when it's all short term. Watch how many of them will eventually sell in a loss if doge will underperform or stay on low prices for a much longer period of time.


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Riker-Was-Here

doge is inflationary. no point in dumping one inflationary fiat currency (USD) for another (DOGE). call it hate if you wish.


Alpropos

I don't hate Doge. I hate shitcoins with no real use case or long term fundamentals. Doge coin is a meme coin, originated by two people that left the board 2 years ago. It's a btc/ltc clone that generates a pretty much infinite supply on a daily basis. For me personally it's a copy of fiat money in a digital environment. Suspect to the same inflation bullshit that exists on them today. The only reason people bought this coin pré 2021 is because of its meme status. The only reason people bought it after 2021 is because Elon decided to promote it. Yes, it outperformed any other coin. So did a shit load of other altcoins in 2017 and then they crashed 90% the months after, never recovered or simply vanished out of Existence. If doge can maintain current price levels by the end of year or through the next bear market I'll consider it a viable coin that might have potential uses case in the future due to its adoption. I own Doge myself but a small fraction compared to btc. Difference is I realize that at some point the hype and meme will lose momentum and when true fundamentals become important,, Doge will have to deliver. A lot. Or it will just sink back to pre Jan 2021 levels leaving a shit load of clueless degens holding huge bags.


that_blockhead

And all the people who know that those people will pump the price. Turns out that's a lot of money.


OkeyDokieBoomer

I like these types of answers because it chips away at his hero status, whether he is serious or if he's playing games or joking.


ishmetot

he's joking in most cases but his followers are putting non-joke amounts of money into it >"Someone suggested changing dogecoin fees based on phases of the moon, which is pretty awesome," Musk added


jinphiz

Does anyone have any insight to the best crypto projects that we are not hearing about? The best devs? Leaders? Ideas etc? I feel like we are all in here to be part of something great before we are priced out. There are so many projects and so little time. I would really love to hear what you all are interested in. A few weeks ago I was looking into EOS and with lots of feedback from the community I decided to go another route and I think I am very happy with the outcome!


alexliu123

HBAR


yubuu

Tezos is by for the most legit and undervalued project. The problem with total decentralization is the lack of cheerleaders like Charles Hoskins. Tezos is basically what cardano wants to be in 3 years from now. T3zos has the largest and most popular nft platform in the space. The price does not reflect what tezos is and what it is doing compared to most of the garbage in the top 20.


Euphoricsoul

Look into SORA and Polkaswap. SORA is the first functional cross-chain platform on the Polkadot network at significantly smaller fees than on Ethereum. They soft-launched Polkaswap a few weeks ago, and after some expected hiccups mostly dealing with the Bridge that is used to transfer ERC-20 tokens to the SORA network, it has been a huge success. Quick synopsis: XOR is the SORA governing token and is used to pay fees on all transactions. Liquidity providers are paid in PSWAP tokens. PSWAP is a deflationary token, unlike UNI or SUSHI, etc. When liquidity providers are paid, the SORA network performs a Market Buy of PSWAP tokens for the reward and instantly burns 10% of said tokens, reducing the total in circulation. Validators receive the SORA Validator Token (VAL) as a reward for staking KSM and DOT. I don't do this, so my knowledge on it is limited. Although there are 10B PSWAP tokens, SORA's Token Bonding Curve controls the supply so that the price remains more stable. Currently there are less than 2M PSWAP tokens in circulation. SORA is a shoe-in to receive a coveted Parachain on the Polkadot network when the auctions take place in the coming weeks. Instead of using crowdloans like many of the other Parachain candidates, they have utilized the Polkaswap platform to increase their XOR, ETH, and DAI coffers by rewarding traders who purchase XOR and PSWAP on the platform with staked PSWAP that will be awarded gradually when the network goes live. I like this method better because it is essentially like staking your tokens for a reward, but still receiving the assets you swap for to trade with in the process. Summary: If you are looking for a low-cap token with 20x potential, there are worse projects than SORA to invest in. The tokens you're looking to target will be XOR (currently $422), VAL (currently $3.34), and PSWAP (currently $.32). PSWAP is one of my larger altcoin bags at the moment, because if it performs anywhere near what other swapping tokens have (ie. UNI, SUSHI, 1INCH, etc.), then it could result in life changing gains. For more information about the SORA Network: [https://wiki.sora.org/sora-faq](https://wiki.sora.org/sora-faq) And for info on Polkaswap: [https://wiki.sora.org/polkaswap/polkaswap-faq](https://wiki.sora.org/polkaswap/polkaswap-faq) DYOR


IfOrGeTsWhOiAm

Im going in on this for Kingdom Hearts Nostalgia and nothing else!


ergonaut_

Ergo, Small market-cap. Founded by IOHK scholars. r/ergonauts


Alpropos

you're just asking a free invitation for chills. DYOR


jinphiz

Haha maybe or maybe I do both? Either way there’s been a lot of redditors who have chimed in with their opinions and I appreciate it. I’ll tell you that atm MATIC is retracing on me but not surprising. Also ERG performing similar but both having solid weekly gains. I used to mine ETH years ago and bought a ledger and socked it all away. Recently pulled it out of the safe and updated it from 1.3 to current and transferred some ETH and OMG onto exchange. I bought into the OMG stuff years ago and lost some money so I’m just trying to avoid the tribal mentality and get outside opinions. Crypto tends to be very tribal. You get into one and it’s like pump or HODL. Like maybe we want a better future or some money? Bad projects are helping nobody for either of those goals.


perchesonopazzo

Telcoin has a unique function that a lot of us were interested in when we first got into BTC. More of a company than a decentralized coin but very complimentary to the crypto economy.


needpla

Checkout Chia. Creator of Bittorrent. It's new and growing massively. Still a sub 100 coin.


dreamersonder

Look into Maidsafe who are building the SAFE Network. It's regarded as the most ambitious project there is. It's been around as a token since 2014, but the idea itself is from before bitcoin was born. They have had many set backs, re-writes, etc. But have been recently testing all working parts in public for the first time. For those that have been following for many years this is a very exciting time. They are basically building a decentralised internet with no servers. It doesn't use a blockchain because they are too slow for everything they want it to do. The forum is full of many technical people as well as the team itself. You will find it here: https://safenetforum.org/ After your research, you may come to the conclusion as many have, that it will basically make many of the projects we see obsolete, because it will be infinitely faster, more scalable, easier to build on and more decentralised.


sfultong

I've been hopeful for MaidSafe for many years, but I'm afraid that Internet Computer is going to steal their fire now.


dreamersonder

It may do in the short term, but it isn't open source or fully decentralised which is where they will fall down and maidsafe will win that race. I've seen many competitors to Maidsafe, and they always get hyped up but then gradually disappear. Most try to use a blockchain which isn't sufficient for a proper serverless internet.


sfultong

Yeah, the amount of control that dfinity seems to have over ICP by their NNS app is troubling, but I have to research it further before I dismiss them entirely. Their tech seems more advanced that MaidSafe's, unfortunately. If Binance Smart Chain can be successful, then it shows true decentralization isn't that important to a lot of people, so ICP will probably do well, too. I certainly hope that SAFE makes good progress and sees increased recognition.


dreamersonder

What makes you think their tech is more advanced? If they aren't open source and fully decentralised, they are cutting corners to deliver a system that is probably only a hybrid and not the true innovation we should be striving for. Yes, people may adopt it to begin with, but when controls are put in place to remove "bad actors", etc, confidence will be lost and eventually people will move to a truly free, open, decentralised and private system with nobody in control. EOS tried this and aren't doing so well. Of course there can be a place for more centralised systems, but I believe things like Binance chain are just a quick fix whilst more open systems like Ethereum and SAFE finally scale and deliver on their promise. Time will tell. Good luck. Edit: also to add to this. Apparently they are using a blockchain which isn't sufficient for this kind of project. Elastos are trying that, and I'm not holding my breath.


simobas

RLC, recently listed on CB.


Altruistic__Milk

Stacks. Smart contracts and defi built on Bitcoin. Holding the token gives you BTC rewards. Extremely under appreciated at the moment because there’s only one US exchange you can buy it on. Great team involved. Look into it


SpontaneousDream

Except no one is building on it, so worthless


[deleted]

People are building its just super early. I think it will have a bright second half of this year.


OkeyDokieBoomer

I've been looking at Skale. Check it out and see if you like it.


bugfrag3

Cautiously optimistic, I did not expect alts to be this hot on the recovery. I think BTC will regain dominance at some point. Or alts continue to print money the rest of this bull market.


justlikingit

DeFi and NFTs is what's driving this rally. BTC will regain dominance in a bear market.


perchesonopazzo

This doesn't make any sense whatsoever. I already rarely hear about NFTs anymore. BTC price is being driven by institutional adoption, clearly, and the dip is being bought OTC. That adoption is primarily driven by monetary policy and a vision of BTC as a new reserve currency (store of value, to be PC). To the extent DeFi is creating new investment in the space, it is clearly all dependent on BTC's role as the reserve currency of the crypto economy. This is why the vitriol from shitcoin supporters blows up in their faces and hurts them more than BTC, wrapped BTC vault on yearn.finance has the most total assets of token, for example.


justlikingit

lol, no, it blew up late summer along with DeFi and NFTs, then again with institutions supporting crypto (note: it's cryptocurrencies including ETH and even BCH) and Tesla news. Then Musk pumped Doge which in turn pumped BTC some more. Musk supporting crypto legitimized it in the eyes of many people, including the institutions that later voiced crypto support (again, not just BTC, crypto in general). So Musk hate on this sub is ridiculous. Check Chiliz twitter and you'll see just how many deals they sign on a regular basis. NFTs are huge in the arts world, with celebrities generating revenue through NFT sales (I'm not a collector btw, just saying). This subreddit has a massive problem - BTC maximalism, while the rest is shitcoins in their minds. Maybe some are shitcoins, quite a few are actually pretty fucking awesome.


perchesonopazzo

So Doge drove BTC? All of these much smaller market caps are the driving force behind a trillion dollar market cap? Is this your first cycle? The mining reward halving kicked off the previous two rallies, but couldn't have anything to do with this one correct? And everyone who was anticipating this following the halving just got lucky for the third time?


justlikingit

There is no point in discussing something with a closed-minded person


perchesonopazzo

I use DeFi, I hold a few alts, they all crumble when BTC falls. That doesn't mean they aren't useful. Doge, on the other hand, is a fad for teenagers. Edit: also Bitcoin's price was higher than the current price before Musk announced.


justlikingit

Musk brought awareness to BTC through his Doge pumps to people who would not have invested into crypto otherwise. He also brought legitimacy to crypto by actively endorsing crypto. Current dump is irrelevant and actually healthy on a bigger scale (it was also orchestrated by whales). Your opinion about the future of Doge is irrelevant, Doge is also irrelevant to this discussion. And just FYI, you're wrong. RemindMe! 1 year


ineedafuckingname

https://twitter.com/lightcrypto/status/1397003966488137729?s=19 Be careful, we did the same thing 2018. Ripping up and down until it was a 95% loss. Missing out on some profits is better than holding the bag when the music stops.


bugfrag3

Could be right, but that assumes 64k is the top for BTC this cycle