I'm looking at my CoinMarketCap watchlist and I had a few thoughts and here they are.
First to define altcoins - for it's everything crypto other than Bitcoin. Some may say its tokens lower than the top 10 on CMC so if you're reading or looking at a video, make sure you understand the way the presenter describes altcoins.
So I do have Bitcoin and Ethereum on my watchlist. It is important to know where the big 2 are headed. They are also most affected by world news and regulation, and have ETFs with large inflows from the normie finance bros. In my opinion, they are worth watching.
Under those 3, next up is TRX. I don't have much good to say about this one. It is forever tied in my mind to the old chain takeover, which led to the loss of funds for many folks. I do not recommend it, not that I recommend anything because as always, nothing I write is financial advice and you must Do Your Own Research on anything you do with your life, basically. I will say that it seems to be less correlated with other top tokens. But it seems centralized to me and might be under some influence of some Asian government. I stay away from it and I don't think I ever bought any, but I do watch it.
Cardano
Under that is Cardano (ADA) and ChainLink (LINK). Both have been around for a few cycles. Cardano was started by the Ethereum co-founder and was said to be very mathematically precise in its inner workings. However it took forever to actually DO anything. Mow it seems to be reaching maturity and there is that NIGHT token airdrop on the horizon that I wrote about before. Also I hear about Cardano bringing DeFi to Bitcoin which sounds promising, but we'll see.
Chainlink
Chainlink is something I consider to be a "picks and shovels" play since it is
an investment strategy that invests in the underlying technology needed to produce a good or service instead of in the final output.
Source: https://www.investopedia.com/terms/p/pick-and-shovel-play.asp
This is because it is working on infrastructure such as Smart Contracts, similar to Ethereum. Also there is Staking which it had before Ethereum.
Source: https://www.investopedia.com/cardano-definition-4683961
So doing further research on Chainlink led me to this video about Chainlink vs Ondo which is another popular altcoin. I don't know much about Ondo so I'll let the video speak for itself on that token. This is from the Altcoin Buzz YouTube channel which has 46K subscribers which is quite a lot.
Source:
Watch that video to learn a little about Chainlink and Ondo in under 7 minutes!
My Activity
today was the high knees and squats exercise snacks and my usual nightly walk. Again it's beastly out there, with high heat and humidity. Cooler nights are coming, if past Augusts are any indication.
I hope you made it through a Monday without too much trouble. :)
I Wish You a Great Day!!! ❤️❤️❤️❤️❤️
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