Serban’s Crypto Picks: Alt Market Update, Return YTD +29%

Since the April-May $BTC crash the market has been unstable for the better part of the last 5 months; we’ve managed to close some quick profits on a few trades, but the market conditions have just not been good enough to risk too much liquidity. 

Some of our initial bets taken before April/May are paying off handsomely (like $SOL), while some others are lagging behind, though still with potential to make profits going forward.

We want to update you on the coins we’re still holding, coins we won’t be selling anytime soon (long-term holds), coins we consider selling to cut some losses and coins we look to be buying to hold in the near future (projects that have strong fundamentals and are likely to grow in the next 6-12 months).

Updates

$COTI – The team has been hard at work delivering on their promise to bridge DeFi and TradFi, recently having launched the COTI bank account and Visa debit card. 

Even though it went down all the way to $0.1 after the crash, it’s a solid project with strong fundamentals and its bounce back to +$0.5 is proof of that, getting back into profit range for us. We’re still holding on to this one long term as we believe in its potential.

$COS – We bought this coin at $0.013 expecting its mainnet launch to drive the price up; we made the right bet, sitting today at $0.0238; this is an area where we’re comfortable booking the profits, so we’ll be moving up our SL at $0.022 and a TP at 0.04; worst case scenario we’re making 83% in profits on this one. It’s not fundamentally a long term hold so we’re playing this purely for the quick profits.

$EGLD – The Elrond token has almost doubled since we first announced it, though we think this one is only getting started. We’re watching the project and its founders closely and based on their plans, pace & implementation we believe this to become a top 10 project in the coming couple of years. Definitely a long-term hold project for us and an exciting one to watch as it unfolds.

$FRONT – We’re very excited about Frontier and it’s new Frotier 2.0 launch. This is a cross-chain project that has potential to bring DeFi to the masses via an easy to use, intuitive mobile app that will link 14 different blockchains and their DeFi revenue streams. This is an easy long-term hold for us and with its below $100M marketcap we believe there’s huge potential for growth.

$KSM – Kusama is the little brother of Polkadot, serving as a testing sandbox for projects that want to launch on the exclusive DOT blockchain. We’ve bought $KSM right before the crash of April/May so we’re currently below entry prices, but we are still holding this token at least until it reaches $1,000. We believe the Polkadot ecosystem has a lot of potential, especially recently with the launch of its parachain auctions, so it’s a matter of time before our bet on those 2 tokens pays off.

$LIT – We still believe in Litentry, especially since they just applied for a parachain slot on Polkadot – this is make or break for us, so we’re setting a SL at $3.8, as going below this level means we’re better off just cutting our losses. If they manage to win the auction on the Polkadot network, then we’re certainly holding the token longer and following it closely, hopefully to new highs.

$LINK – Chainlink is the most important blockchain oracle in crypto, basically allowing real world data to flow into cryptocurrency projects (and vice-versa), providing the backbone of most crypto movements (such as DeFi). It’s a project that we want to hold going forward, as it’s indispensable to the functioning of the majority of crypto projects. 

$MATIC – Rebranded to Polygon recently, this project exploded in popularity as a cheaper to use alternative to Ethereum. Many projects that were originally built on top of ETH have bridged towards Polygon and/or Binance Smart Chain, making them usable by a larger audience, people who could not afford paying exorbitant gas fees on Ethereum. We’ve liked and followed Matic for a while now and are still excited to see where the project is moving, especially with the growing popularity of Ethereum alternatives in the past 3 months.

$OCEAN – After 3 months of accumulation between May-August, Ocean seems to be waking up again, looking to get back into the $1.3-$1.5 initial buy range.

Once we go back past those levels entry we’ll set our SL there and look to exit this trade.

$OGN – The project has been moving forward slower than anticipated, which is also the reason it’s lagging behind compared to where we entered the trade; we still believe this has potential long-term but we’re revisiting this buy once it reaches $1.5 again. We want to see more action from the team, more NFT drops and more traffic moving through their platform in order to keep it on our long-term holding list. For the time being we’re not selling, but we are setting a SL at $0.65 to cut our losses in case the market goes south again.

$ORN – We’re still huge fans of Orion protocol and, as expected, it’s taking a long time for the team to build their ambitious project. The team is hard at work, pushing regular updates to its investors and community, building the future of crypto trading via the ORN exchange aggregator. We’re still holding and staking our $ORN and looking for it to reach at least $50 in the coming 6 months.

$SOL – We bought SOLANA when it was just $20 and still believe this project is nowhere close to being done growing, even at $160 where it stands today. It’s just a strong project fundamentally that has gained a lot of traction in the last 3 months, especially with NFTs booming on their platform; adding to that, it’s also backed by FTX, one of the top 3 exchanges today so we can only be excited for where Solana is going as a project and, of course, as a token. Solana is currently #7 in the charts with a $50B market cap, so it’s no longer a “startup” coin. 

This was a 700% profit for anyone who bought when we first mentioned it – not unusual for crypto, but still rare. Solana is a long term hold for us, though we always recommend booking some profits on the way up. 

$TVK – just like Origin, Terra Virtua has been moving slower than anticipated, so we’ll be setting our SL level at $0.173. It’s a low mcap (below $100M) so there’s always the potential for it to grow, we’ll be watching it closely if it goes back up to $0.5 and reevaluate our entry over there. For the time being, going back to $0.17 territory will prove to be too much of an exposure for us and we’ll cut our losses there. 

$UNI – This is a long-term hold project, as the main DEX on Ethereum and still with lots of potential to grow in value; Uniswap basically enabled the whole DeFi boom and continues to add new projects for people to trade everyday. We’re still holding this one for the foreseeable future, as we expect this to grow especially with ETH fixing its scalability issues over time.