I’ll have a new recommendation for you in the next day or so. It’s a good one, so watch your inbox.
Vertcoin
Vertcoin (VTC) is currently trading at $4.20, according to CoinMarketCap.com. The community continues to grow, and Vertcoin remains one of the most active crypto “subs” on Reddit (a social media sharing site).
When I checked the site recently, there were 2,830 users browsing r/Vertcoin at the time. They have 40,000 total subscribers to the sub. These are very healthy numbers for a small cap coin. And ultimately community is what causes coins to increase in value – a group of dedicated holders working together to create value.
Vertcoin is holding strong, especially considering how far it’s come in a year. It still has a ways to run once it gets going, with a relatively small $181 million market cap.
Nano (formerly RaiBlocks)
Nano (NANO) has had a challenging few weeks, but it’s now back up from our recommendation price and has recently gained wind. Here’s what happened.
A few weeks ago, there was a large theft of Nano coins from an exchange called BitGrail. Nano said in a statement on February 9 that it was fully the fault of the exchange, not Nano’s code. I, along with most of the community, believe Nano is correct, and that BitGrail was at fault. BitGrail was a small, unregulated, insecure exchange (which is why we didn’t send you there to buy).
The development team has moved on and is hard at work making progress. They just released an Android app in “early testing” mode that was approved by Google as part of the process. Not many cryptos have approved apps.
Legendary Silicon Valley investor Garry Tan (who invested in Coinbase’s first round of funding) revealed he was bullish on Nano and was recorded with the team testing the new Android app. (See it on Twitter here.)
Nano is currently trading around $15, up from our recommendation price of $11.80. It’s moving up today on heavy volume, with more than $149 million traded in the last 24 hours on Binance alone.
The fact that Nano survived the challenge and appears to be thriving through adversity is a great thing. Every coin will have shocks. There have been major thefts of every serious cryptocurrency (unfortunately). The teams that push past it and keep going are the ones that make it.
I believe Nano is a good buy here, and has potential to be a top five coin. (It’s currently #22.)
OmiseGO
OmiseGO (OMG) has moved up strongly today, currently up 15% to $20.61.
The development teams (from Ethereum and OmiseGO) continue to make progress on Plasma, the project that could eventually allow the OmiseGO network to scale Ethereum up to 1 million transactions per second.
The OmiseGO team recently had a “fruitful” meeting with the SEC of Thailand and posted pictures to Twitter. Also present was Vitalik Buterin, creator of Ethereum and advisor to OmiseGO.
OmiseGO’s team is being extremely proactive by reaching out to authorities, which is smart. This goes a long way when dealing with regulators. OmiseGO has been very legal-conscious throughout the project, which will pay dividends down the road.
At a relatively modest $2 billion market cap (compared to Ripple’s $37 billion), this one could go quite a bit higher. Much depends on the success of Plasma, so we’ll be keeping an eye on those developments.
Ark
Members of the Ark (ARK) team will be presenting at the University of Geneva on March 19. This is a great opportunity to introduce researchers and students to the potential of the Ark ecosystem.
Ark’s currently trading at $3.82 and has been consolidating around this level. I continue to believe it’s a good buy here.
The team continues to make great progress on the platform. To see the recent updates, check out the team’s blog posts.
Good investing,
Adam