Hello and welcome to my new series where I dive into more detail about different cryptocurrencies. My aim is to help educate crypto-fans about the various investments that are available and give my analysis as to where they could go in the future.
Today will be focusing on Antshares. This project recently went through an explosion of attention and subsequently saw its coin value increase dramatically.
Coin Name: Antshares/NEO (ANS)
Market Cap: $344M
Avg Volume (7 Day): $22M
% of Max Coins created: 50%
Website: www.antshares.org
Background Info
Antshares is China’s first public blockchain project. China is a thriving market that has embraced the blockchain technology. Their goal with this project is to help facilitate the registration and transfer of assets, not dissimilar to Bitcoin.
Antshares got its start back in June of 2014, with an ICO following up shortly afterwards in 2015, in which they raised 2100 BTC. A second ICO in 2016 raised an additional 6100 BTC. The Chinese mainstream media started to cover Antshares in detail in July 2016.
In June 2017, Antshares announced it was rebranding in NEO in an effort to get a firmer hold on western economies.
Investment Analysis
After lying rather dormant, Antshares saw a quick run up from 67k sats on June 15 to 528k sats on June 19, gaining over 700% over that time. After a period of consolidation and small spikes, it is currently trading around 276k sats.
With the uncertainty about Segwit2x, the market has been generally bearish for the last few weeks, and I anticipate this to continue until the end of July. Note that Antshares has not been down nearly as much during this sell-off as many of the other coins, which signifies the strength of the coin.
After Segwit2x has been implemented and the market stabilizes, expect a surge in the market for all coins. Antshares is poised to take advantage of this run-up. With a healthy community of supporters on reddit and twitter, there is a strong belief that this coin could challenge Ethereum in the near future.
I would strongly recommend investing in this coin for both long and short term gains. It has all the makings of a powerhouse in the future.
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Thanks for reading!