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A coin or token can be created by anyone or group of persons. They are likely to have something related to helping the Blockchain industries or for fraudulent activity(ies).
Coins are said to be the main means of exchange within and outside of an organization while the tokens have defined utilities. This enables the organization to carryout tasks, knowing fully well that their labour must either be rewarded or charitable.
For the purpose of this post, I will be sharing some hints on how you can identify coins or tokens which has better use case and can gain the interest of many, leading to its bullish trend.
There's no two ways about it. Tokens are bought by investors whose aims are to get rewards and make profits on sales during bullish period.
They buy a meaningful amount of tokens, hodl, wait for price increase, hit the market so hard that it will hardly recover. They are likely to buyback the tokens after it falls.
"It's just business."
So many people have fallen victim of this trick. They bought a token as it was heading up north on Monday, by Friday, the tokens are far below their buy price.
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The reason is because, a whale (big investor) bought so much up to the extent that the tokens in circulation became very few, leading to the higher demand for the token. As the demand increases to its maximum level, the whale unleashed the dragon full of tokens to the market in exchange for USDT.
Some ways to avoid market manipulation
- Check for total token minted, in circulation, and market supply.
- Check for the worth in USDT
- What's he usefulness of this token?
- What's the Blockchain?
- How many exchanges can you find it?
- Can it be staked?
- If it can be staked, how long is the maximum duration.
- Are there other projects making use of this token?
- How are the collaborators?
If you can get positive answers up to 70%, then go ahead to buy and stake. It must surely bull 🐂
You only need to be patient. Investment is not a day's job. Just be hopeful, ready for the best day ahead.
I hope this article has answered some of your frequently asked questions?
Okay.
Feel free to interact with me through the comment section.
Have a great day.