Quote from: passwordnow on Today at 03:08:16 PM

Quote from: Iamcrypticguy on July 02, 2024, 07:35:15 PM

When picking altcoins to hold for the long term, what do you look out for the most: utilities, team, hype, or tokenomics?

I've been speaking to friends in the crypto space to hear their opinions on this, and they vary widely. For example, take Well3, a leading wellness platform that revolutionizes health data management by transforming it into valuable rewards. They have real-life applications and partnerships with companies like Animoca and Samsung. However, I’m not seeing much about them on Reddit, Medium, or even Twitter. Instead, most of the discussion online seems to focus on memecoins or obscure altcoins.

So, what factors do you consider most important? Let’s discuss!

To be honest, most of these utilities that are being proposed by most of the altcoins have already its identical projects before. While for the few of them, they've got really use cases that are being used by their own platforms. Other than that, with whichever niche that they're working on, the devs, they are nothing new whether they're in real estate, wellness/health and any other sectors that have been proposed. I can even remember that I've read some projects that have been optimistic with their use case for greener energy. But it seems that most of them are just all talks and proposals but not into actual usage of it.

Because with all of their purposes, all of it ends with tokenomics. Yes, they're all ending with that and focusing to the actual market and forgetting the actual proposal that they've made before on what sector they're representing and working on. As long as their token gets popular and hyped and listed to known exchanges, the purpose is forgotten and they're focusing on the volume of the trades instead of the original reason why they've made their projects. So, that's why I've said that most of them are just almost the same and like a try and test type of projects until they succeed.

Depending on the term of investment, the hype helps with a quick flip. On the other side, even some projects with similar utility, demand, and number of users can give a good boost!