The days of ICOs are long gone, but new crypto projects have kept popping up. There are more than 8,000,000 cryptocurrencies and tokens today, according to the CoinMarketCap service. And this without taking into account those who do not add or exclude analytics services from the list. The choice is really extensive, but when we look at the ICO we understand that most of these coins are scams. How do you choose a really promising crypto project from a large number? You should consider the following factors:
- Community. Who, if not the project audience, can support their new development vectors? This also applies to new coins: if a project has a large and active community, they will happily purchase a new token, not get rid of it and this will contribute to long-term growth.
- Product. The coin must have a practical application. If there aren’t, then it was created to make money on price changes. Such coins usually do not last long; At some point, their creators lower the price by selling a large amount of an asset. And when the coin has a practical application, a constant demand for it is provided, which is a guarantee of a constant increase in price.
- As the price of the coin showed up at the beginning of the project and over the next few months. It was said above that if a coin was created to make money from price movements, it will soon be written off. But if the coin had a good growth rate to begin with, but above all was able to maintain its position, then this speaks for one thing – the project developers and first-time investors are not going to get rid of it.
- Perspectives. In addition to the practical application, you need to look at where the coin is already being traded. When the project is new, its token can be traded on a limited number of websites. Thus the price of the coin will react positively with each new listing as the trading volume will increase. However, if a project has a history and is traded on many cryptocurrency platforms, then most likely no sudden growth is to be expected as the potential has already been tapped.
The GR token will soon be listed on the Bitcoin.com cryptocurrency exchange. To understand whether this is a worthwhile investment option, let’s evaluate the token based on the factors above:
1. Community. The creator of the token is Pavel Gromov, the owner of several Telegram channels dealing with cryptocurrencies and traditional finance: Crypto Chief, Altseason, Margin, Gromov Says. The total audience of the channels exceeds 100,000 people. In addition, a year ago a service for the provision of trading signals Profit Chief was started in which the GR token was implemented.
2. Product. Profit Chief service customers can use the GR token to buy
– Drawing trading signals.
– Bitcoin depreciation insurance.
– investment notes.
3. How the price of the coin was shown at the beginning of the project and over the next few months. The GR token was released in October 2020 and cost $ 0.01. As of February 25, 2021, the cost of GR will be USD 2.64, and according to the CoinMarketCap analytics service, it has normal volatility, that is, there has been no sharp drop in price.
4. Perspectives. Since its inception, the GR token has only been traded on the decentralized Uniswap platform. The first listing on the central crypto exchange Bitcoin.com will take place on March 10, 2021. Project management says it plans to open several more large exchanges by the end of the year. The GR token is just beginning its journey, and its listing on major exchanges will help fuel further growth.
But that’s not all! On March 10 and 11, 2021, the Bitcoin.com exchange will host the AirDrop of the GRB stablecoin, which will be used in the new “Private Exchange” service of the Profit Chief service. To participate in AirDrop, you must register on the Bitcoin.com exchange and have GR tokens on your balance. The more GR tokens there are on the balance, the more GRB stablecoins will be credited. The project has big plans for 2021 – all relevant information about the upcoming AirDrop can be read here.