Sep 5, 2022
3 Altcoins I Am Buying This September 2022
Even though I have my “favorite” list of coins to DCA in. Each month I choose a group of Altcoins where I want to put my focus and DCA the most during that month.
In a sea of thousands of cryptocurrencies, it is good to be laser-focused and know where and why you are investing.
Each coin will be accompanied by a series of questions, metrics, and a checklist to explain why I am investing or focusing on them this month.
For reference, I DCA $10 into crypto every day. That is the portfolio I keep public. So, if I say I will be investing or focusing on these coins this month, that means I will be DCA $10/ day in these projects.
Check out the video I made about that $10/day portfolio for better context:
https://www.youtube.com/watch?v=KxbB6XkiTX8&t=3s
Other resources that might help you understand these metrics or TA.
Support & Resistance:https://www.youtube.com/watch?v=-T9BIUQ2CbE
Ethereum
ha! That is probably not a surprise. With the merge at the corner, everybody wants a piece of it.
Metrics:
Circulating Supply : 122,246,934.00 ETH
Market Cap: $190,965,953,216
Market Dominance: 19.61%
Market Rank: #2
Key Buy Pressure Factors:
- Hype for the merge
- Possible airdrop of POWs forks
Key Sell Pressure Factors:
- After ETH unlocking later this year, people might sell their tokens for a profit.
- Merge might bring issues and fuc*ed everything
Technical Analysis:
There are still 2 important resistance levels at $1,700 and $2,000. After breaking it next important level is almost touching $3,000. So there is space to ride.
Conclusion:
ETH has been a safe bet for a very long time. One of the blockchains with the biggest developments, the biggest NFT community, and probably the most respected blockchain overall.
There will not be a 10x gain on this investment. But a possibility to keep my capital safe with a slow and steady gain.
ETH is on my list for DCA for the next few weeks. If there is hype after the merge I will sell 25–50% of my position close to the next level of resistance.
Near Protocol
Another big one that is gaining traction lately. Surrounded by the news of their annual event in Lisbon.
Near has been building quietly with no big mistake. I have never had any issues with the blockchain. Transactions are fast and cheap. Their ecosystem is bigger than most other blockchains.
You can check their ecosystem here: https://awesomenear.com
Metrics:
Market Cap: $3,235,385,350
Fully Diluted Market Cap: $4,164,496,811.53
Circulating Supply: 776,897,065
Max Supply: 1,000,000,000
Market Dominance: 0.33%
Market Rank: #25
Key Buy Pressure Factors:
- Hype for the NearCon
- Still holding multi-year support
Key Sell Pressure Factors:
- If we break multi-year support we are fuc*ed
Technical Analysis:
Near TA is what has me the most excited. Multi-year support still holding and we have been bouncing off it a few times.
I expect the $3.5–$4 to continue to hold. If we add the news I think we should be over $5 in no time.
Gains Network
I am not a trader, but I do know the trading niche is HUGE!
Trading outside of centralized exchanges is gaining a lot of traction. If you don’t believe me, just check GMX. That token went from $11 to $58 in less than 2 months.
Gains Network is built on Polygon and utilizes a synthetic trading architecture. That means you can trade crypto, stocks, and forex.
The best part is the earnings for staking. 32.5% of fees from all orders on will go to $GNS staking.
There’s over $15,935,888,350 all-time volume traded. Just imagine how much fees that is.
Metrics:
Market Cap: $19,201,391
Fully Diluted Market Cap: $18,133,478
Circulating Supply: 9,240,683 GNS
Max Supply: 9,591,309
Market Rank: #2691
Technical Analysis:
Currently at $1.95. There is resistance around the $2 to $2.5 area.
Key Buying Pressure Factors:
- Traders that stakes pay lower fees on trades
- Stakers make money just by staking — As GMX gains more traction this can become the next “let’s pump this now”
Key Sell Pressure Factors:
- If there is a massive pump in price, stakers might unstake to profit.
- GMX is a massive competitor, people might prefer going with them.
Conclusion:
The play with Gains Network is to take advantage of the passive income and cash out a portion of the position when the price reaches new all-time highs.
This is a very quick review of why I am investing in these projects. But my research consists of way more than this. Checking the background of the team, testing the protocol or projects, reading their whitepaper, and understanding how they make money.
So always DO YOUR OWN research before investing. Use this as another perspective to add to yours.
Passive Income Tracker & Project review
Having another pair of eyes is a must when investing. If there is a project you want me to review so you can have another perspective on it before investing you can submit a request using the link below;
https://ko-fi.com/defichronicles/commissions
Numbers are powerful. Only when you track and examine your investments you will see past the noise and notice what is working and not.
If you want to track your passive income the right way and be 100% sure that you are making money, click the link below.
https://ko-fi.com/s/eaca3d7cf0
As always, thank you for reading,
Keep building the life you deserve. 🏗️
As always, thank you for reading. Check out some of my stuff:
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Disclaimer: This is not financial advice, I am just a guy with a laptop sharing his opinions and experience. This is for entertainment purposes only. Always Do your own research before investing.
