Well, 2018 is a little more than half over now, and another of my predictions for the year seems to be WRONG! I thought that this year would see the disappearance of a bunch of shitcoins, or if not total disappearance, at least delisting, which, you know, what's really the difference? A delisted coin isn't like, "Oh, it's not dead, it's just sleeping." No. It's dead.
So many coins and tokens appeared last year. At the end of 2017 there were 1300 of them listed on coinmarketcap.com. Now there's over 1600, so the pace has slowed down some. I thought all those coins that have a "?" under practically every statistical category -- Market Cap, Circulating Supply, Volume, you name it--- were going to just go away. And how about the coins that just about don't sell. I mean abysmal volume, which some crypto buyers might say is anything under seven or even eight figures, while others might say anything under six or maaaaaybe five... see, for the latter, there's this urge to believe that you can spot that sleeper -- I speak from my earlier experiences here, because I thought I spotted a few of those last year. You know the coins I'm talking about: That coin that somehow seems to have slipped by almost everyone else, and look at what a great practical use it is going to someday have, and the website sure looks nice... Well, after a few of those withered and almost died on the vine, I started paying a lot more attention to volume.
It's important to note that I'm not talking about spikes in volume, caused by a pump & dump or whatever. I'm looking for consistent, sustained volume in the millions or more. I'm not giving financial advice here, and in fact, I haven't been paying this much attention to volume for long enough to say for sure that it's something which will necessarily pay off. Time will tell. And as that time goes by, I'm keeping an eye on the volume of the coins & tokens I own to make sure it is pretty well sustained.
Since ETH arrived on the market, it has never gone below six figures in volume on any 24hr/vol. count on coinmarketcap.com. Is that a good benchmark? What do you think? And what do you think about the importance of volume in general: Meh or Yeh?