These days I am a fan of service related tokens and look for projects that are offering far more than just staking.
This week I don't know why but I have had so many FTM shills coming through on my Twitter feed and I am not a fan. All prices have dropped considerably since last year and have a feeling they haven't hit the bottom yet. The shilling is obviously trying to get others to invest as the sell wall was around only $20 million which is not much considering what the upside brings. A 3 x or 4 x is possible, but what happens if the price drops some more.
I have held FTM before and made a decent profit but I am more about a project having a proper use case and not a coin that is offering the same as all the others. FTM value as a use case is limited when we consider it can be used for paying service fees on their platform, governance and staking. If I am holding a big bag I would want more than just that as I have CUB and a few others that are similar use cases.
In the past when I had $1000 I would invest into 4 or 5 different projects and today I would only add to what I have invested into already as the homework has been done. Something like FTM doesn't excite me like some of the other projects I am involved with and it is that simple.
The likes of AVA (Travala) currently trading at $1.27 down from an ATH of $6.45 in April last year looks far more appealing. Everyone travels and as more and more newcomers arrive in the crypto space this is one project that will appeal to everyone at some point. Booking hotels, flights car hire with crypto and still getting crypto back/cash back is something that cannot be ignored. $10 or even $20 is still seen as cheap compared to where it could go from here. This has a genuine use case as this is supplying a service.
Wait until travel opens up properly again with no vaccine passports and such nonsense. AVA has basically been on hold for the last 2 years due to lockdowns and hasn't been used to it's full potential. This is one project that should have "suffered" due to Covid and is much stronger than before.
What we must always keep in mind with a project like AVA is that the 62 million max supply (now 61,383,832) is going to drop to 42 million through quarterly burning. A price of $10 would only make the market cap $420million which just sounds well undervalued for what is being offered.
Personally I like service related projects that have a use case besides just staking. The Likes of LUNA has shown the way of what is possible and COTI are another two I prefer over coins that have the same use cases. LUNA and COTI with their stablecoin involvement offers something unique and where I believe the value is going to pump. Don't get me wrong FTM will most likely do very well but service related projects is what I am banking on for the win.
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You could be right about AVA there, that one kind of escaped my vision, again due to Covid. I like the calculation you make there, and honestly if it really takes off, 420 million is peanuts!
Thanks for reminding me!
That is my logic as 42 million coins is nothing especially for the travel industry. $10 or $20 I see happening and that is not even big still. $1.27 is a joke and is 5 x below the ATH.
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Following you completely there!
I have thought about FTM in the past, but I have never pulled the trigger on it. I think at this point the only thing that would give me reason to buy some is if Cub launches on FTM which they are apparently planning to do at some point. Then again, maybe I will just sell my airdrops on that one an wait for the next one.
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I have some but not like the numbers on the ones I am serious about. I just see it like all the others and offers nothing special. I have kept my FTM only for CUB when that happens.
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Sounds like a smart plan. I need to have some of my other tokens pickup here so I can have things ready for future CUB launches.
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