BitTensor:
First is BitTensor’s TOW. BitTensor is a decentralized machine learning project, and people all over the world can take part by connecting their machine learning models. In return, you receive Tow as a reward.
What is BitTensor:
They have a super die-hard community similar to the XRP army and the link Marines. More recently, it’s getting picked up by the mainstream channels as well. The BitTensor project also compares itself with Bitcoin very heavily. There’s the name BitTensor, which is drawing comparison to Bitcoin. The supposed founder of BitTensor is also pseudo-anonymous Yuma Rao, which is very similar to Satoshi Nakamoto. Their white paper is formatted in a very similar way to the Bitcoin white paper. And the BitTensor tokenomics is practically identical to that of Bitcoin as it has a 21 million total supply and a halving schedule.
Akash Network’s AKT:
Second is Akash Network’s AKT. Akash Network is all about cloud computing resources. In other words, GPU. Akash offers a marketplace we can rent or offer GPU instance games, and especially AI have a constant need for GPU This is a thriving market.
Fetch AI:
After that we have Fetch AI’s Fetch offers a decentralized machine learning network, and Fetch can interact, negotiate, and transact between you and a supplier.
Fatch.AI price padiction:
Fetch AI they have probably one of the greatest performers of this cycle so far they have broken through their previous high and continues to go higher and that’s because AI is so darn popular so hot and they are in that space right they are L1 but they have these AI agent that’s supposed to be very very very intelligent that’s supposed to make things a lot better right and if AI continues to blow up just look at the media look at how hot they are all the crypto projects that’s related to AI will follow so I think fetch could do very well this cycle and it’s not just them but there’s like you know singularity and others that’s in this space I think they’re gonna do very well so again 10 15 20x no problemmay be they end up being like 35 dollars by the end of this year yeah I think that can happen.
Ocean Protocol:
Fourth is Ocean Protocol. Ocean Protocol is all about data services and the value of data. It connects data providers with consumers With the Ocean Market app, owners can sell their data and monetize it.
What is Ocean Protocol:
Ocean Protocol is a project in web 3 that allows people to manage copyrights to their content and at the same time allows them to issue licenses to others to get access to their content.So if I’m Taylor Swift, I could create an NFT using Ocean Protocol that controls all the master rights for my songs and at the same time, I can then also create data tokens, which I can sell, and these data tokens give people licenses to access my content.
Golem Network’s:
And lastly, we have the Golem Network’s GLM. Golem Network is a decentralized computing platform. It’s also open source and uses a peer-to-peer setup. You can also supply or lease idle hardware.
Why Golem is up ?
Golem or the glm token is up more than 70% today alone let’s have a look at the data what’s all behind this who is buying here who’s selling here who’s driving the price this is the rally I’m talking about we are almost at 70 cents now and the price of Golem is rather erratic right we see these random spikes then subsequent crashes now we are in a spike again does this mean that we are going to crash what’s causing this now I’m not going to present you the content and the marketing on the website this is not how we can get Alpha how we can get a knowledge Edge over the rest of the market instead let’s check out the things most people aren’t looking at here’s the white paper the final version of the white paper but have a look at this that final version was published in November of 2016 does this mean that Golem is actually a dead project and this is simply just a pump and dump some kind of manipulation let’s dive deeper what we’ve got over here is the GitHub repository of Golem so this is the place where programmers submit their code changes and no this is not a dead project there was an update 14 hours ago another one 19 hours ago yesterday 2 days ago 2 days ago so there’s still something actively Happening Here the team is still working on this dpin project on the project of distributed GPU power but let’s have a look at what’s driving here demand and Supply let’s have a look at toomics let’s have a look at adoption metrics what we’ve got over here is the active address count for golum a lot of ction in 2017 then a subsequent crash now it’s pretty much at zero here’s a transaction volume over time very much the same picture social metrics aren’t too impressive either the number of Reddit subscribers is rather shrinking but here’s a rather positive chart it’s just a horizontal line this shows us the circulating Supply so at least there isn’t any expanding Supply anymore potentially depressing the price this is the problem with most altcoins most altcoins issue a lot of tokens to the early investors and to the the team that then sells off that then depresses the price this seems to not be the case anymore for Golem now there are two versions of the token one of them is on ethereum and that token has 19,6 45 holders there’s another version of the token this one has 12,000 holders so it seems like the capital locked up in ethereum and in polygon doesn’t seem to be that different but actually once we dive deeper it is very very different I’ve built a tool to distinguish the retail investors from the whale investors you can pluck in any ethereum token in this tool you can pluck in any polygon token in this tool. The number of Wallets on ethereum that hold at least 2,000 tokens at the current price that’s a bit over $11,000 that’s what I’d consider retail in the middle we’ve got mediumsized retail that’s now $10,000 worth of of the token on the right side we’ve got the Wales that’s $100,000 worth of the token now those are very long-term charts let’s have a look at the same thing just for the last month that’s over here and we see actually quite a bit of accumulation by the whales the number of wh wallets grew by more than 20% maybe 25% medium-sized retail grew to a similar degree small retail grew a bit less and that then explains a price development like this at least to a degree there is something that I don’t like here but before we get into that let’s first look at the polygon based token right there’s the ethereum based token and the polygon based token and remember how the number of total holders was a bit over half for polygon versus e now here are the same charts with the same thresholds for polygon much much less more than 3,000 holders with 2,000 tokens on ethereum only 20 such holders on polygon the same difference can be seen obviously for mediumsized retail and for the whales so for whatever reason there are a lot of wallets of this token on polygon but they all have minuscule amounts of it I don’t know why that is but it is something very distinct I’ve never seen this relationship mismatch that massively now let me show you the thing that I do not like so much about this rally it’s nice that we do see some accumulation on ethereum and it’s also nice that we see this across the board both with the retail people buying but also with the Wes buying and with the Wes potentially buying even more that being said the price movements tend to be accelerate now and that acceler duration might not be natural because again the holder numbers grew by 20 to 25% the price grew by 220% in the same time period and the answer to this puzzle might be over here this is the Perpetual Futures Trading volume so that’s the levered bets on the price and there is a ton of trading volume on binance there’s xt. comom and binance XT is simply just a Rebrand of binance this is more than a billion dollars worth of trading volume in the last 24 hours alone and that’s for a market cap of 650 million so that’s not yet two or three times the market cap that’s being traded that would be clear manipulation but it’s definitely elevated there is some hot air in this rally as well so does it make sense to hold colum potentially maybe with a trailing stop loss in case we do see a deflation temporarily we do see accumulation that’s good.
Disclaimer:
This is not financial advice, I am simply talking about my experience with cryptocurrency. If you want to invest in cryptocurrency please do your own research and invest at your own risk. We recommend that as a consumer, you exercise your due diligence and research any and all strategies recommended to you before adopting them in your own business. We and other encompassed entities are not responsible for any damages that result from an effort to implement the information provided in this or any other video, article, social media post, and related publications.