The days of ICOs are long gone, but new crypto projects have not stopped appearing. Today, according to the CoinMarketCap service, there are more than 8,000 thousand cryptocurrencies and tokens.
And this is without taking into account those that analytic services do not add to the list or exclude from it. The choice is really extensive, but looking at the ICO, we understand that most of these coins are scams.
How to choose a really promising crypto project from a great variety? You should pay attention to the following factors:
- Community. Who, if not the audience of the project, will be able to support its new vectors of development? This also applies to new coins: if a project has a large and active community, then they will happily acquire a new token, they will not get rid of it, and this contributes to long-term growth.
- Product. The coin must have a practical application. If there is none, then it was created to make money on price changes. As a rule, such coins do not last long; at some point, their creators drop the price by selling a large batch of an asset. And if the coin has a practical application, then a constant demand is provided for it, which will be a guarantee of a constant rise in price.
- How the price of the coin showed itself at the start of the project and the next few months. It was said above that if a coin was created for the purpose of making money on price movements, then soon it will be depreciated. But if the coin at the start showed a good growth rate, but more importantly, it managed to maintain its position, then this speaks for one thing – the project developers and first investors are not going to get rid of it.
- Prospects. In addition to practical application, you need to look at where the coin is already traded. If the project is new, then its token can be traded on a limited number of sites. Thus, with each new listing, the price of the coin will react positively, because the trading volume will increase. However, if a project has a history and is traded on many cryptocurrency platforms, then most likely sudden growth is not expected, because the potential has already been used up.
Very soon, the GR token will be listed on the Bitcoin.com cryptocurrency exchange.
To understand if this is a worthy investment option, let’s evaluate the token based on the above factors:
1. Community. The creator of the token is Pavel Gromov, the owner of several Telegram channels that are dedicated to cryptocurrencies and traditional finance: Crypto Chief, Altseason, Margin, Gromov Says. The total audience of the channels exceeds 100 thousand people.
In addition, a year ago, a service for providing trading signals Profit Chief was launched, within which the GR token was implemented.
2. Product. With the GR token, Profit Chief service clients can purchase:
- Subscription to trading signals.
- Insurance against the depreciation of bitcoin.
- Investment notes.
3. How the price of the coin showed itself at the start of the project and 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 is $ 2.64 and according to the analytical service CoinMarketCap, it has quite normal volatility, that is, there was no sharp decline in price.
4. Prospects. Since its inception, the GR token has been traded only on the Uniswap decentralized platform. On March 10, 2021, its first listing on the centralized crypto exchange – Bitcoin.com will take place. The project management states that it is planned to enter several more large exchanges by the end of the year. The GR token is only at the beginning of its journey, and its listing on major exchanges will contribute to further growth.
But that is not all! On March 10-11, 2021, the Bitcoin.com exchange will host the AirDrop of the GRB stable coin, which will be used in the new “Private Exchange” service of the Profit Chief service.
To participate in AirDrop, you need to register on the Bitcoin.com exchange and have GR tokens on your balance. The more GR tokens on the balance, the more GRB stablecoins will be credited. The project has big plans for 2021 – all relevant information on the upcoming AirDrop can be read here.