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!
I couldn't care less about the hype. I know that can be a solid tactic but i wasn't build that way. I haven't seen any real world use cases that would really benefit from blockchain. And they have often either such a cheap fees, and bad tokenomics that any amount of corporate tx activity wouldn't need to even invest into the coins because it would be cheap to use, so there wouldn't be any need to hoard or hold any tokens when you can do fine for ages with the fraction of one full coin. Or other way around and blockchain might be too expensive to use. That would be counter effective to anything anyone would be planning to use it for.
Reddit might have only use case that makes any sense. And that is native nft avatars that you can use to build avatars there. I am still not sure if that's a good idea, but it has brought money to artists that designed them, and knowledge about nfts.