The media attention is all on BTC. This provides the perfect opportunity to do some altcoin
shopping. Altcoins are a higher risk, higher reward alternative in the cryptocurrency space.
When BTC pumps or dumps altcoins have a tendency to see negative trends. However, when
BTC stagnates, it becomes #Altseason.
BTC the prior week has outperformed every major index and asset class. Altcoins pegged to it in
SATs have been obliterated. This provides a unique opportunity to accumulate these bottomed
altcoins.
Where would an individual begin their altcoin search?
Binance IEOs
Individuals have a tendency to not DYOR (do your own research). This means they often trust
the ‘vetting’ process to others. Binance IEOs (initial exchange offerings) have all passed
Binance’s lengthy protocol to receive approval to hold an IEO. At a bare minimum these
projects have strong teams and unique ideas. In crypto all projects seem to have strong teams
and unique ideas, these specific IEOs received the Binance stamp of approval.
Of the Binance IEOs which is likely to provide the highest returns through the course of the
Summer of 2019?
MATIC
There were two approaches that could have been taken for this analysis. The first, was assume
all Binance IEOs are equal and pick the one with the lowest market cap. Lower market cap coins
have a higher likelihood of being able to post large percentage returns. The second was to look
at the teams, platforms, upcoming news, events, and also compare the market caps. Although
the first would have been easier, not all Binance IEOs are created equal.
A low market cap is not enough of a reason to ‘buy’ into a project. MATIC does not have the
lowest market cap of the Binance IEOs but it does have one of the strongest teams, Coinbase as
investors, and major events in both the end of June and September. This places MATIC in a
unique situation where even given BTC’s rally, we are likely to see a MATIC pump against BTC in
Satoshis.
ETH was last year’s news right? Wrong. With MetLife and other major players beginning to
adopt the Ethereum blockchain it seems scaling solutions and plasma swaps will become
necessary.
MATIC is a platform (invested in by the guys who built Coinbase) that has the ability to bring
massive scale to Ethereum using an adapted version of Plasma with PoS side chains.
Why Now?
Upcoming news, minimal hype, huge correction, Binance IEO, investors, project, concept, the
list goes on and on.
Why pick MATIC over the lower market cap FET? Why is MATIC superior to any of the other
Binance IEOs?
It is not that MATIC is ‘superior’ but it is their upcoming news, team, and investors that have my
curiosity perked. MATIC has an exceptionally exciting end of June. Their Proof of Stake validator
should be on boarded in the next 10 days. The Plasma Implementation shall also take place
during this period. This will allow deposits and withdrawals of ETH based assets using the
MATIC Plasma implantation (alpha).
However, the part I am most excited for are Plasma Cross-
Asset Swaps between ERC721-ERC20. The scaling solutions, major news this week, mainnet on
the cusp of going live, and the most impressive investors in crypto make MATIC a must own.
The final Testnet was deployed months in advance on June 3 rd . The Alpha Mainnet goes live
within 10 days (with almost no news or excitement surrounding it). The Beta Mainnet in
quarter 3. MATIC intends to hold a bug bounty program, to release further technical
documentation, undergo a security audit, and to resolve any bugs found.
In summary the first version of the mainnet goes live this week, with zero hype. Following the mainnet the team has a
plan to roll out major news and tech updates all the way through quarter three.
If there was a “safe play” that had potential to put up huge returns on Binance, that was not
BNB, the option would be MATIC.
Conclusion
MATIC has everything working for it currently. Besides a fantastic core team of Indian devs,
they also have Coinbase as investors and were supported by Binance for their IEO.
There is almost no hype, discussion or FOMO surrounding the project even though they have
arguably their biggest week in history, this week.
This correction has provided many unique opportunities to accumulate on discount. Did you
take advantage? MATIC would be the King’s choice.
[Disclaimer: This views expressed in this article do not reflect the views
of Blockchain Reporter and should not be taken as financial advice.]
To read the Crypto King’s prior articles or to get in contact directly with him,
you can on Twitter (@JbtheCryptoKing) or Reddit. The King is the founder of
PocketNode, ANON and actively trades cryptocurrencies.
