Crypto markets have been relatively stable over the past few weeks. Unfortunately, the government shutdown has slowed the launch of major upcoming platforms, such as Bakkt and Fidelity Digital Assets, as they cannot receive approval to begin operating from the Commodity Futures Trading Commission until it’s over.
However, the market appears to be taking this news in stride, which is encouraging.
We continue to search for new coins to recommend, and I am watching one project in particular extremely closely. It’s called Grin, and it has the potential to be a revolutionary cryptocurrency. It’s private, fast and highly scalable.
It has attracted interest from legendary figures in the crypto world, like Jameson Lopp (a veteran bitcoin developer who has never been known to dabble in altcoins). When one of his followers on Twitter asked why he was experimenting with something other than bitcoin, he replied, “Because there are no sketchy incentives skewed towards the creators, it’s actually innovating, and it’s a pretty cypherpunk project.”
Grin is seen as having pure motives. It didn’t have an initial coin offering (ICO). It has no founder rewards or premine. And its technology could be revolutionary. Apparently, venture capitalists are funding mining operations solely focused on Grin. The coin just began trading on KuCoin, but I’m not recommending it yet.
Grin only just began trading, and the supply is extremely low, so the price remains high. We will continue to watch this one for a bit. If you’d like to buy a little now, that’s fine, but I don’t recommend overdoing it. It’s likely the price will fall substantially as major mining operations come online.
Now let’s look at two important portfolio updates.
The Nano community continues to impress. There are now more than 155 online merchants that accept nano as payment!
This type of grassroots adoption is critical to the success of any cryptocurrency. Merchants are adopting nano because they believe in the power of fast, free transactions. It reminds me of bitcoin in its early days.
Nano has proven itself during this bear market. I believe this development team and community are truly among the best in the crypto world.
The potential of this cryptocurrency remains extremely high, and I believe it’s a risk/reward bargain at these levels.
On February 1, Vertcoin will complete a “hard fork” to update its algorithm. This important update aims to solve the recent 51% attack issues and will boost the coin’s “ASIC resistance.”
These are vitally important changes to the Vertcoin network, and it is encouraging to see developers rallying to support the community.
You can read more about this update in the following places:
Vertcoin remains a very promising project, and it is one of the few cryptocurrencies with a talented and active development team, no ICO, and no premine. It deserves a far higher price than it has today.