The Calm Before the Crypto Storm?
August 2024 Portfolio Update - How I’m Navigating the Current Market
Like many, I had been hoping to see the Crypto Bulls running by this point in the cycle but over the past month or so, things have really stalled out.
I must admit, I thought we would be in a better place right now with so many bullish events in 2024 including:
The introduction of Bitcoin and Ethereum ETFS
The latest Bitcoin Halvening in 2024
Increased major institutional support from players like Blackrock and Fidelity
However, prices seem to be dragging on altcoins, which has led to general market malaise and negative sentiments for the time being. I speculate the following reasons for this:
Too many useless coins. Right now there is a glut of projects and too few that are garnering major consensus support.
Despite what the data seems to be saying, inflation remains a major problem. Quite simply, the market is waiting on interest rate cuts from the Fed which could come in September. The market needs more liquidity and support from retail investors and that could be the spark that ignites the flame.
Uncertainty surrounding the 2024 Presidential Election. Currently, Trump has come out as heavily pro-Crypto and Harris is viewed to be anti-Crypto. Given the tight the race at the moment, the fate of Crypto seems to hang in the balance depending on the ultimate victor.
Honestly, I don’t expect much to change over the next month or two, which offers a good chance to assess what is happening and what is coming.
Despite the challenges of the moment, I still feel bullish about the industry in general, particularly with respect to AI projects. For the moment, I am consolidating my positions into my strongest coins and will likely not make any big moves until the last quarter of the year.
My Current Portfolio
Currently, I have 7 major holdings which include:
Wadzpay - (WTK)
Current MC: $8 Million
Coin Price: .015 Cents
Buy On: MexC/Bitrue
Website: https://wadzpay.com
Wadzpay has suffered from some recent FUD. While it did launch on MexC last month, after a Tier 1 exchange was promised by the team, prices have dropped regarding some uncertainty around the project. One major change in direction is that the upcoming WadzpayChain will now be a L2 and not an L1 as originally planned. At this point, this remains a high-risk, high reward type of play. With a microscopic market cap, it will not take much to see the price fly here. That could come in the form of a successful chain launch (test version set for September), a full VARA approval (which is still pending), or something completely unexpected. Ultimately, when viewed from a risk-reward perspective, there is much more upside here than potential downside.
Kaspa - (KAS)
Current MC: $3.9 Billion
Coin Price: .16 Cents
Buy On: MexC/Kucoin
Website: https://kaspa.org
I don’t normally buy projects that are this high in market cap, but Kaspa is an exception because it is a fast L1 that could eventually realize the true inspiration behind Bitcoin. I also happen to mine the coin so I receive a significant amount daily. This is not a coin I think will do an x100 from here, but I do believe an x5 to x10 is reasonable. Word is that a US listing with Kraken or Gemini may be coming soon which would open the doors to more potential investors.
TRIAS - (TRIAS)
Current MC: $51 Million
Coin Price: $5..05
Buy On: Uniswap/MexC/Kucoin
Website: https://trias.one
The Chinese Ethereum-killer continues to roll along with the unveiling of NetX this month. The TRIAS team is moving slowly but with purpose and this could be the everything project that combines smart contracts with AI, RWA, and more. Still very bullish here.
Bittensor - (TAO)
Current MC: $2.1 Billion
Coin Price: $94
Buy On: MexC/Kucoin
Website: https://bittensor.com/
After a minor swoon, Bittensor seems to be moving forward again with the unveiling of intriguing new subnets like Bettensor. There are still some issues to work out with the way TAO is distributed to validators, but given the quality of this project, this remains the standard for crypto AI projects. This also has a higher market cap that I like to invest in, but I got in early and plan to hold this for the long-term as I see it one day entering the Top 10 projects. Additionally, it still offers an awesome staking incentive, so I will continue to grow my bag without much effort.
Agoras - (TAU)
Current MC: $29 Million
Coin Price: $1.64
Buy On: MexC
Website: https://tau.net
Agoras has a very impressive team with a technology that has been in development for many years focused on reasoning AI as opposed to the traditional models used. Unlike other models that rely on huge data sets, Agoras is focused on a system that learns from logic and attempts to mimic human reasoning. The much anticipated Tau Net is set to go live in October or November, so positioning yourself here now while prices are low is a smart play. This could easily be a 4 digit coin over the next few years.
Arbius - (AIUS)
Current MC: $5 Million
Coin Price: $31.80
Buy On: Uniswap
Website:
https://arbius.ai
Arbius has been in a bit of a standstill pricewise, but that should be changing shortly as they are set to roll out a host of new features including:
One thing I like about this project will be the focus on B2B customers, so the project will not be dependent on investors of the coin, but be bringing in significant income from real world customers. At a $5M market cap, the risk reward value of this token remains strong.
Alkimi - (ADS)
Current MC: $24 Million
Coin Price: .13 Cents
Buy On: Uniswap/Kucoin/MexC
Website: https://alkimi.org
Alkimi continues to be one of the most overlooked projects, but is slowly building up by adding more publishers daily. They are now over 1,100 publishers and that number seems to be picking up momentum. Given that ad fraud remains a huge problem and ad spend is projected to top $440B by 2027, the utility this project provides is unquestioned.
The Calm Before the Storm?
Given how quiet the market is right now, I plan to sit on my current portfolio for the time being and not jump into any new projects. Instead, I will take some time to research, add to current positions, and wait for some signs of life for things to heat back up. Right now, there are still great entry points for great projects, so I would advise anyone to perform their own due diligence and decide which investments make best sense for them. Use this time to prepare and be ready for the violent upward movements we anticipate are on the horizon.
Keep in mind that all investing offers some level of risk, but you cannot win if you don’t play. All it takes are one or two big plays to experience life-changing returns.
Going Forward with Continually Better
When I started the SubStack, my goal was to focus on a number of topics such as personal development, in addition to crypto and wealth building. As the year progressed, I lost track of that original vision and took my eye off the ball. However, there are a number of subjects I’m passionate about and plan to write about in the days ahead. So while I will continue to write about crypto, I will also be exploring other topics related to physical, mental and financial greatness. I also plan to commit to a more regular output of 2-3 weekly articles. I hope you enjoy the new focus!
Stronger Together!
My goal is to build Continually Better into a thriving community of growth-minded individuals, so your feedback matters!
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