In an unprecedented move the other day Coinbase announced a list of 18 cryptocurrencies that they are considering for possible listings to their exchange platform. I reported on this immediately and that was my most visited post this month so I decided to make a more detailed review on these coins to see what they can offer to investors and possibly help you in your decision making whether to open positions or not.
This is a typical “Buy the Rumour, Sell the News” type of a setup as we saw an immediate jump in value of all of these coins in the hours that followed the announcement. Luckily, the entire crypto market suffered a significant dip last night, as Bitcoin dropped by 10% and dragged all the alts along with it, so it gave us opportunities for lower entries on many altcoins.
So, here are the 18 coins and the projects behind them:
- LEND is the token of Aave – a fintech startup behind ETHLend project. It is a Swiss-based technology company and their products are a decentralised P2P marketplace (mainly decentralised lending pools) and an app allowing to cash out crypto (Aave Pay).
- ANT is an ERC20 token of a decentralized platform Aragon, which allows users to manage entire organizations on the blockchain enabling them to create decentralized autonomous organizations (DAO) complete with basic organization functions for accounting, digital juristritions, raise capital, own and transfer shares and more.
- AR is the token of Arweave – a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever – for the very first time. As a collectively owned hard drive that never forgets, Arweave allows us to remember and preserve valuable information, apps, and history indefinitely. By preserving history, it prevents others from rewriting it.
You can get some free coins by visiting their official website.
- BNT is an ERC20 token of the Bancor network – a decentralised protocol network created to increase the liquidity of coins. It gives other cryptocurrencies, especially the not so popular and upcoming coins the alternative of exchanging and transacting their coins without the use of exchange platforms and other counter parties. Bancor makes use of a new kind of trading process that creates a smart token with the smart contract without depending on the existence of another party for a successful exchange. It is used to convert other digital currencies directly rather than waiting to be listed on exchange platforms. It employs the use of the smart contract technology by connecting it with other ERC-20 tokens to increase liquidity. This is the main innovation that Bancor offers and it’s been on a steep rise this year.
- COMP is the token of Compound Finance. It is is an algorithmic, autonomous interest rate protocol built for developers, to unlock open financial applications. In other words, Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty. Each money market is unique to an Ethereum asset and contains a transparent and publicly-inspectable ledger, with a record of all transactions and historical interest rates. Its use case is mainly to provide liquidity for margin trading which relies on borrowed assets.
This token is not yet listed on CMC or other data aggregators, so there’s no chart.
- DGB – DigiByte is one of more well-known coins from this list. It is a project focused on cybersecurity for decentralized applications and digital payments. Its major goal is to be the safest and most secure way to keep data, decentralisation and fast transactions by providing a 15 second blocktime. Also, it has 5 mining algorithms including Skein, Scrypt and more to further democratize the mining process.
- ZEN is the coin of the Horizen Ecosystem – a project focused on privacy and anonymity and one that I have been reporting about for quite some time. I’ve interviewed their founder and key developers on my YouTube Channel and we’ve discussed its developments in great detail over the past three years. It’s a coin that forked off Zclassic, which forked off Zcash and removed the 20% founders reward and has all the privacy features its predecessors like zkSNARK (zero-knowledge proofs) and more. You can also grab some ZEN for free on a daily basis from their faucet website.
- LPT is an ERC20 token of Livepeer – a new, decentralized video broadcasting platform. Rather than a medium of exchange value. Users create and broadcast video sessions to its viewers on a global scale by sending their videos to the Livepeer network, which transcodes the data to the formats and bit rates that the viewers can consume. Fees are then paid to the transcoders by the broadcasters in LPT tokens.
- NU is the token of NuCypher – a decentralised network offering accessible, intuitive, and extensible cryptographic runtimes for secrets management and dynamic access control. It focuses on privacy and secure storage and management of encrypted data.
The token is not yet listed on Coinmarketcap or the alternative data aggregators.
- SC (Siacoin) is also a decentralized platform that uses blockchain technology to help secure and store data safely. It is also a cryptocurrency designed to facilitate payment for data storage in the Sia platform. The system was created to disrupt the data storage market by making a proposition that any person on the globe could lend their unused drive space for a fee. It provides a new way of looking at data-centres so that all people can become part of a huge global ecosystem where data can be stored in a decentralised manner with no risk of loss, abuse, or unauthorised access.
- NMR (Numerarie) – this is one of the coins that were listed in the recent Teeka Tiwari’s email called “5 Coins to 5 Million” – a report that I analysed in detail and you can find it here. It offers a protocol where data scientists work with encrypted data to make predictions for a collective hedge fund and are rewarded for accurate predictions. It uses technologies such as cryptographic encryption and Artificial Intelligence.
- REN is an ecosystem for building, deploying, and running general purpose, privacy preserving, applications. It makes it possible for any kind of application to run in a decentralized, trustless, and fault tolerant environment similar to blockchains but with the distinguishing feature that all application inputs, outputs, and state, remain a secret even to the participants running the network. With REN users can transfer tokens in zero-knowledge, swap between blockchains trustlessly, trade on a dark pool and build privacy preserving applications.
- KEEP is a privacy layer for Ethereum: an off-chain container for private data. In other words, The Keep network features off-chain containers for private data called keeps that give smart contracts interactivity with private data without compromising transparency or auditability.
- OGN is the token of Origin Protocol – an open-source platform that enables the creation of peer-to-peer marketplaces and e-commerce applications. The Origin Platform initially targets the global sharing economy, allowing for the creation and booking of services and goods without traditional intermediaries.
- RNDR (Rendertoken) which offers distributed GPU rendering on the blockchain. I couldn’t find too much about it, so I’m using the info from their website which reads: “The Render Network™, through the use of RNDR™ tokens, is the first network to transform the power of GPU compute into a decentralized economy of connected 3D assets.”
The token is not yet listed on Coinmarketcap or the other data aggregator websites.
- SKALE is another ERC20 token that does not yet appear on Coinmarketcap and as such there’s little data to analyse about it. The Skale Network is building and running your own dApps on the Ethereum Blockchain in a decentralized modular cloud built for real-world needs and configured for your personal requirements. SKALE Networks claim that their modular protocol is one of the first of its kind to allow developers to easily provision highly configurable blockchains, which provide the benefits of decentralization without compromising on computation, storage, or security.
- SNX is the token of Syntexis Network formerly Havven – a cryptoasset-backed network that enables the creation of on-chain synthetic assets that track the value of assets in the real world. In other words, digital versions of physical assets, such as gold for instance.
- VET is the token of VeChain – a platform that aims to connect blockchain technology to the real world by providing robust infrastructure as well as IOT integration, with scalability up to 10,000 tx/s and building real world applications.
It’s been around since 2018 and it’s been a popular token for traders as it’s available on many exchanges, including Binance, Kucoin, Huobi, Hitbtc, Bittrex and many others.
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