I always check new Altcoins is from their project first. How ling did the project start. The goal of that project. The Team behind who help that project. Another famous project who follow that project.
What did I just read?
Do you know that even a tier one project can turn into a shitcoin? They were heavily invested by the OGs and different venture capitals that are famous in crypto but what happened at the end, it's now a shit show. Here comes the list:- Terra Luna
- FTT
- ICP
Terra Luna gave one of the most hype and high APY in staking Luna and USTC, it was a scam APY that wouldn't last long but what happened after, 6 feet under the ground and he is trying to be extradited to US the last time I heard of him in the media.
FTX/FTT was donating millions and lobbying politicians and congress house because of his political ambitiousness and it's obvious that this where from customers money but many people were extra excited about the market and what happened today, not only did he embezzle the company money, he did it together with his sweet long time girlfriend(partners in crime).
ICP/internet computer protocol conducted one of the largest ico in tbe crypto industry but what happened after, there tokenomics was bad and when they released the listing date, people sold all of their investment and I don't blame them because you don't expect people to leave their investments seeing that it's has done 400x on listing date. To date, ICP is yet to recover and I doubt if that is going to happen soon.
What am I saying? It's possible that you will do all tbe basic research needed before investing into altcoins and you might still bite the dust reason is that altcoins are very risky investment, take your profit while the market is still green on the other side.