Hello World!
Today I've decided to write up an article expressing my trading view on a rather quiet altcoin known as TokenCard (TKN). To reiterate, I am a day/swing trader and have been patiently tracking TokenCard for quite some time.... these are the reasons why...
I believe that there is plenty of room for 'Credit / Debit' card technology growth within the $crypto-verse. With that being said, there is plenty of competition in the space. Starting from the top-down, in terms of rank on www.coinmarketcap.com (10/1/2017, 4:05PM EST), we have:
|| #22 CMC || TenX (PAY) || Market Cap = $284,935,183 || Circulating Supply = 104,661,310 ||
|| #38 CMC || Metal (MTL) || Market Cap = $186,385,839 || Circulating Supply = 19,300,994 ||
|| #72 CMC || Monaco (MCO) || Market Cap = $79,602,662 || Circulating Supply = 9,814,875 ||
|| #86 CMC || TokenCard (TKN) || Market Cap = $50,392,104 || Circulating Supply = 23,644,056 ||
These are the top 4 altcoin competitors within the 'payment card' space. So what exactly is the difference between them all? Well, one could argue that they all have their own differences (which they do), but for the most part they are all trying to accomplish the same 'main' goal.... to allow you to go to the store and use a card buy something pretty with your $crypto gains.
They all boast great technologies, but from a strict traders view point, I can analyze that (at the time of this writing) TokenCard is, in fact, the best investment from the list above (this is my PERSONAL opinion). Before I get into as to WHY, let me get into the others first.
- TenX (PAY) - $PAY is definitely ahead of the game when it comes to the payments. From what I've seen, people have already started to receive their cards and are all happy campers..... GREAT!.... So now what?... o.o.....
From a trader's view, this is actually a fairly bad thing. TenX has become "old news" and with no fresh, big news to fuel the speculative FOMO bull rally, the price has bled down over 75% into a nasty bear market that has heavy bag holders trying to unload at any little spike it gets. Also, the market cap is nearly 6x more than TokenCard with nearly 4.43x more circulating supply. This makes it harder for people (whales) to accumulate at current price levels.
$PAY has a great product.... unfortunately I just don't see much value in actively trading it until the price bottoms out into an accumulation floor.
- Metal (MTL) - $MTL is actually a great contender in this space because it recently came out with the closed alpha product, has an amazing team and are very engaged with the public. MTL is one of the youngest of the 4 and so has plenty of time to come out with news to fuel FOMO rallies. I personally am hodling a bit of MTL because I like the team (and because of rumors), but at $186,385,839 million market cap, I don't expect to see any sudden 'FOMO' spikes that will give me the 'magical' +100% returns I enjoy hunting.
A great contender to TKN, but I'd like to see it break bullish from the Descending Triangle first.
- Monaco (MCO) - $MCO was the start of my September 'losing streak' that quickly turned my Twitter image from 'hero' to 'villain'. Personally... I highly dislike this coin. They had VISA pasted EVERYWHERE making it seem as if they had the damn thing in their pocket the entire time. In fact, knowing how horribly they handled the situation makes me believe that VISA would never approve of them. The CEO (and team) supposedly had a history of fraud but I just chalked it up as "haters gonna hate" and gave them the benefit of the doubt. Needless to say, I was sadly mistaken.
MCO quickly dropped from the top 40s to now #72 on CoinMarketCap. I don't even know what to make of the chart.
If the team somehow redeemed themselves with a magical 'VISA' logo, then maybe it'd be worth trading, but for now... I'm not touching it.
Finally, we have TokenCard (TKN)...
First lets start with a little bit of background story behind TokenCard. TKN's ICO was one of the more popular ICOs talked about in the Telegram trader channels. People were thrilled about the idea of being able to spend their Ether with a VISA crypto-card... However that image was quickly shot down as news got out that TokenCard wasn't approved by VISA and that they soon had to remove the logo from their website. This devastated the early ICO investors and when the coin hit the markets, it was almost immediately dumped. The price, as well as their image, never fully recovered from this blow. Looking back @ the price's history, you can see that it's almost always been 'stagnant'.
To make things worse, TokenCard has an absolutely HORRIBLE marketing team. In fact, they have no marketing team (from what I've seen). Hell, I could probably market their product better than they have been (Q.Q). Of course... that doesn't necessarily mean that they, or their product, is bad... I actually applaud them for owning up to the VISA mistake instead of letting the public ride on lie like Monaco did. Also, judging by their pictures, progress, blogs and AMA's, they seem like they're running a pretty tight ship.
In fact, I have come to appreciate their lack of marketing and presence in the community.... It has allowed myself, and I'm sure others, to accumulate at great prices before any big news hits the 'mainstream'. To recap;
- TKN only has a $50 Million market cap which gives it the ability to 'easily' do a 3x FOMO rally.
- TKN has a circulating supply of 23.6 Million coins. A decent amount, but still low compared to one of it's top contenders, TenX.
- TKN has not had a rally spike and is still, as of writing this, at the ICO base levels (Current price = 0.00045481) with a strong inclined support showing on the charts.
Now lets discuss some of the FA and news surrounding TokenCard.
First, the news that has Token rallying up lately is a new website + rumors that news is to be released at their Community Meetup on the 2nd of October.
This is all fine & dandy for a nice little price pump, however I think that the REAL, JUICY news is when you dig deeper. Into the fundamentals of what makes TokenCard special from competitors like TenX and also the 'just so happens' circumstance of a 3rd-party release that fits perfectly with what TokenCard is trying to achieve.
1st - TokenCard is trying to be the first trust-less 'self-bank' crypto-card out there...
2nd - BitFinex, one of the top global crypto exchanges, is creating a decentralized cryptocurrency exchange on the Ethereum platform called 'EthFinex'. With the creation of this exchange, they have also stated that they will be creating a USD tethered ERC20 token. Basically, USDT on Ethereum. This is, in my opinion, AWESOME for TokenCard because it allows you to basically hold the equivalency to 'dollars' on your trust-less card.
Imagine, at any time you will never have to worry about an embarrassing situation where your card maxes out or having to sit around and wait for transfers to go through 3rd parties to receive your funds. Instead, you can just go on your phone, 'buy' (USDT...E?) and 'pay yourself' with the click of a few buttons with no stress about whether the markets will crash, or not.
BTC going through another 'China-FUD' correction? NO PROBLEM! Convert your holdings into (USDTE?) and go party your ass off while you wait for the markets to bounce back. You can safely keep and use your crypto all at once! Go buy a Lambo and wait for the markets to recover.
Source:
http://ethereumworldnews.com/first-time-tokenized-usd-ethereum-made-possible-tether-ethfinex/
3rd - As the cherry on top... Metropolis releases in about 2 weeks... with that, comes zk-snarks (ZCash's anonymity technology)... I'm not even going to go into the implications of what that may mean, but I'm sure you could conjure up some devious things in your minds.
To sum it all up...
I'm in TokenCard... and I'm hodling.
Though I know I'm not the only fish in the sea... I caught 'smart money' accumulating this a while ago...
Happy trading!
-Wolf
I would say your on the right track, that's very thorough, I give you a lot of credit, now that's called doing your due diligence!
Thank you. :)
I believe tokencard has a long way to go myself, very undervalued at this point, which some benefits compared to other cards.
Interesting article. Personally, I like TenX, so this is the one I have been accumulating. However, as you say, there is room for more than one player, and the trustless aspect of TKN seems appealing.
I also share your dislike of MCO - for the same reasons! ;-)
TenX is a great product, I just don't see it as a good TRADE for the moment. However, it is definitely ahead of the game, in terms of having an actual product out and about.
Also, fuck MCO. :)
I was so disappointed from MCO :/
Great post wolf!! I have been looking forward with my brother to join the wolf pack since August! Save to say I was thrilled for October, Do you still add people or? :) love the humor you always cook with your articles and tweets!
^ and follow, well written piece
I love sleepers with real projects. It.seems to all lay in the hands of visa with these cards. They should try mastercard, or we should just start our our user based community and say screw these fed backed debt making cards. Ive been on token for some time, slowly accumulating, hoping news doesnt break so i can keep accumulating.
Honestly, they're in the same boat as Monaco. You're probably better off actually heading to Monaco and betting on black, rather than 'investing' (giving bagholders their exit).
Thanks for this great review @wolfofpoloniex.
My name is Jerry and I'm the founder of Coincheckup.com and I was curious if I could get some feedback?
We did Fundamental analysis on Tokencard. Besides that we present all important investment stats and long-term price predictions on our website and we're working on other cool features like: Coin Comparision and technical analysis.
I was wondering if you could give us some feedback to improve our platform: https://coincheckup.com/coins/tokencard/analysis
Any feedback would be really appreciated. We're committed to supporting the crypto community to the best of our abilities.
Many thanks in advance.
Jerry
Great post. Resteemed and upvoted.
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STOPI have been interested in the crypto/debit card space because it extends that financial freedom that cryptos provide.
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