This is not what I usually post about but I am supercharged right now as I have made good profits in the past couple of months trading crypto. I was the type of person who believed in investing rather than trading but trading is really exciting especially if it pays of.
Now, I am not saying that investing is bad but I figured that it will take a lot of time for my thousands of dollars to turn into millions if I keep my coins in my wallet and never touch them. But we know crypto is risky, I decided to take a little more risk and trade.
I am not an expert when it comes to reading crypto charts and predicting the price movements. I don't think that works, maybe, it does but I am not really convinced of that. I have traded Cardano, Kyber, Ren, Bancor, and Nuls in the past two months and my investments have almost more than doubled.
The reason why I traded in these coins is that each one of them had some event coming in the near future. The most important fact to know here is that most of them are DeFi coins and everyone knows the craze behind DeFi is huge these days and maybe, that's why these trades were successful. I am still holding Cardano and Nuls and I am planning to exit before their respective events.
So, let's look into two coins that could give good returns in July :
Augur (REP)
Source
Based on these trades I mentioned above, I decided to buy some Augur which is trading around $19 at the time of writing this. The V2 of Augur is going to be launched on Ethereum mainnet on the 28th of July. Augur is a DeFi coin and the event is also coming, so it can give good returns.
iExec (RLC)
Source
This is another coin that could do well well in July. It has an event coming in this month where they are going to launch V5 mainnet. Although the exact date hasn't been announced, according to them, it will be in July.
So, these are the two coins I am keeping an eye on for this month. But I always trade with a tight stop loss. You never know, if BTC starts moving upwards or downwards, the alts take a huge hit.
Do let me know your thoughts on these picks.
This is not financial advice. Do your own research before investing. This is my opinion and it is meant for information purposes only.
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You're using the word DeFi a bit loosely here,
REP is a prediction market so it's arguable that it can be used in DeFI if you stretch it but RLC is an off-chain computation solution so I don't think it's fair to call it a DeFi coin at all
Thanks for the information.
I just heard that it is in DeFi space and that's why I mentioned this. (Should have done more research).
No worries, we're all here to learn!
DeFi refers to financial dApps and protocols living on Ethereum: that include but s no limited to Compound/Sythetix/Curve/Uniswap/Balancer/Aave/Zerio etc..
need to look into rlc. never even heard about this one. have some Aug already and will exit once v2 is about to launch.
I'll save you the time, RLC is neither DeFi nor it has a value capture mechanism, it' just a 2017-style app coin that can't generate cash flow
Yeah, I don't know why OP claimed RLC as De-Fi. Also the more I read about it, the more it looks like its not worthy for a long term perspective. maybe it has caught several users' attention due to the recent gains. What are your picks for some long term coins? FTM has caught my attention but not sure about it either as well.
I think ETH is going to have a hell of a run in the next bull market, network is strong and ETH will turn into a capital asset once it can be converted into ETH 2.0
I am long 50/50 BTC and ETH + some (actual) DeFi tokens to act as "leverage".
Generally I expect ETH to outperform BTC and DeFi middle caps to outperform ETH so I built my portfolio along these principles.
If you have low risk tolerance though I would suggest to allocate more ETH and BTC and less DeFi.
Hope this helps :)
I have exposure to BAL and Curve right now in De-Fi. Though my mains are ETH/BTC as well. Very confused in ADA for the long term.
I have heard a lot about Curve.
Where can I get more info about it and can I buy it somewhere?
@nobean
no, the token is not listed anywhere right now. the only way to get it now is to provide liquidity on curve.fi since liquidity provider are given curve token just like BAL and COMP.
the website curve,fi is very old school GUI wise so it might be tough to understand it and navigate it.
@nobean Yeah, I am not close enough to the project to have an opinion but I personally have my money on ETH to win the DeFi war, ADA could be a nice play if balanced correctly within your portfolio though. I have exposure to REN personally, been following the project for a while
REN I am not actively trading but keep looking at the trading view. As a project, I don't know enough about it. Only that they aim to bring BTC on ETH blockchain for De-Fi purposes. Is that right?
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