If You Put $10,000 into $XRP in September 2018 💸
Today, you would still have $10,000 🤯
99% of altcoins are doomed to dump/never grow.
Here are 10 coins you should AVOID (you're probably holding them) and how to recognize them 🧵👇
Three Main Types of Altcoins to Avoid:
1️⃣ Old and Overvalued Projects:
- Characteristics:
- No technology and no upside.
- Doomed to fall relative to $ETH in the long term.
- Example:
- @Ripple | XRP
- Designed for fast and cheap international money transfers.
- An unnecessary fork of $BTC with an overly inflated valuation.
- Not the worst coin, but $ETH or $BTC will always be better.
2️⃣ Artificial Tokens:
- Characteristics:
- Supply completely controlled by the team/VCs.
- Value is manipulated.
- Risks:
- The price does not reflect the true market value.
- Risk of being dumped by -99% at any moment.
- Example:
- @worldcoin | $WLD
- An artificial coin with supply completely controlled.
- Value can be manipulated, and it will likely be dumped eventually.
3️⃣ Projects from Past Trends or High FDV, Low MC, and Constant Sell Pressure:
- Characteristics:
- Originated from old, irrelevant trends (e.g., dead P2E games).
- High Fully Diluted Valuation (FDV) and low Market Cap (MC).
- Constant sell pressure.
- Risks:
- Doomed to a slow death.
- Buying these tokens = becoming exit liquidity for VCs.
Examples of Doomed Tokens:
1. @worldcoin | $WLD
- Completely controlled supply.
- Likely to be dumped.
2. @Ripple | $XRP
- Unnecessary fork of $BTC.
- Overly inflated valuation.
3. @eth_classic | $ETC
- A split from $ETH in 2016.
- Largely ignored by developers and has almost no prospects.
You need to know how to recognize these projects and distinguish junk from gems!
