Cryptocurrency Heard for the Month: 16 February 2023
As of today, our 2023 Cryptocurreny suggested portfolio is up 33.23% average ROI, versus 34.03%, in January 31, 2023.
Suggested Crypto-currency Portfolio Review
The following were our suggested entry price for:
Bitcoin (BTC): $16,526.92
Dogecoin (DOGE): $0.068
Polygon (MATIC): $0.76
Cosmos (ATOM): $9.33
Ethereum (ETH): $1,194.68
Binance (BNB): $244.97
Polkadot (DOT): $4.30
Tether (USDT): $1.00
Bitcoin (BTC) Current Price: $22,249.02 UP 34.62%
Dodge Coin (DOGE) Current Price: $0.09 UP 32.35%
Polygon (MATIC) Current Price: $1.25 UP 64.47%
Ethereum (ETH) Current Price: $ 1,556.99 UP 30.33%
Binance Token (BNB) Current Price: $299.29 UP 22.17%
Polkadot (DOT) Current Price: $ $6.21 UP 44.42%
Cosmos (ATOM) Current Price: $13.42 UP 43.84%
Tether(USDT): Current Price: $1.00 UP 0.00%
As of February 15, 2023, the Crypto suggested portfolio is up on average 34.03% ROI, since January 2, 2023.
Bitcoin has a current price of $22,249.02. BTC has a market cap of $429B and a 24-hour trading volume of $26.8B. The maximum supply is 21 million BTC, with a circulating supply of 19.3M. The highest price ever obtained for Bitcoin was $67,597.72. This all-time high (ATH) was recorded on 11/08/2021. BTC’s price reached an all-time low of about $2.24 on 10/20/2011.
Ether has a current price of $1,556.99. ETH has a market cap of $191B and a 24-hour trading volume of $9.02B, and circulating supply of 122M. The highest price ever obtained for Ethereum was $4,811.01. This all-time high (ATH) was recorded on 11/08/2021. ETH’s price reached an all-time low of about $0.44 on 10/20/2015.
The price is highly volatile because crypto is a new asset class and not yet fully understood by the mainstream. The value of Ethereum can rise and fall very quickly, so it is essential to stay up to date on the latest news and developments.
The price of Bitcoin is highly volatile because it is a new asset class and not yet fully understood by the mainstream. The value of Bitcoin can rise and fall very quickly, so it’s essential to stay up to date on the latest news and developments.
Several factors, such as available supply, market demand, competition with other digital currencies, and overall investor confidence, influence the price of Bitcoin. The price increases when there is more demand for Bitcoin than available supply.
The price of Bitcoin is also affected by the amount of mining taking place. When more miners are mining Bitcoin, the network is secure, and the price of Bitcoin is likely to be higher. When fewer miners are mining Bitcoin, the network is less secure, and the price of Bitcoin is likely to be lower.
Dogecoin (DOGE) is a meme coin that started in 2013. It was created as a humorous alternative to decentralized digital currencies like Bitcoin and Ethereum.
Almost 10,000 Dogecoins are mined every minute, and there is no maximum supply, part of the founders’ original joke and one reason the Dogecoin price is low. Similar dog-themed meme coins like Shiba Inu have also gained popularity, and nearly all have an abundant or unlimited supply.
Dogecoin boasts acceptance as payment by Tesla and broad name recognition in pop culture, two essential factors for this crypto asset’s value. Doge retains a thriving niche in the mainstream market and attracts the attention of crypto noobs and serious investors alike.
Binance Coin (BNB)
Binance Coin has a current price of $299.29. BNB has a market cap of $47.3B and a 24-hour trading volume of $636M. The maximum supply is 200 million tokens, with a current circulating supply of 158M. The highest price ever obtained for BNB was $676.51. This all-time high (ATH) was recorded on 05/03/2021. BNB’s price reached an all-time low of about $0.07 on 07/16/2017.
Binance Coin (BNB) is a cryptocurrency created and issued by the Binance exchange. It was initially issued as an ERC20 token on the Ethereum blockchain but was later migrated to its own mainnet. BNB can be used to pay fees on the Binance exchange and can also be used to purchase goods and services.
Similarly to ETH’s use for the Ethereum network, BNB powers the Binance Smart Chain (BSC), which is a decentralized finance (DeFi) platform. The Binance Smart Chain is a layer-2 blockchain that runs parallel to the Binance Beacon Chain. The two chains are connected through a protocol called peg zones, which allows for the transfer of assets between the two chains.
Out of Binance Coin’s total supply of 200 million coins, 100 million of those coins were pre-mined by the Binance team. Binance sells a portion of its pre-mined BNB every quarter to fund its operations, and the remaining BNB is burned (destroyed). The amount of BNB that is burned depends on the trading volume on the Binance exchange.
Polygon (MATIC) is a cryptocurrency . Polygon has a current supply of 10,000,000,000 with 7,701,069,510.62 in circulation. The last known price of Polygon is 1.71923257 USD and is up 0.72 over the last 24 hours. It is currently trading on 358 active market(s) with $858,150,151.27 traded over the last 24 hours. More information can be found at https://polygon.technology/.
Polkadot (DOT) is a cryptocurrency . Polkadot has a current supply of 1,103,303,471.382273 with 987,579,314.957085 in circulation. The last known price of Polkadot is 22.69599238 USD and is down -1.69 over the last 24 hours. It is currently trading on 320 active market(s) with $1,265,041,262.32 traded over the last 24 hours. More information can be found at https://polkadot.network/.
Cosmos (ATOM) is a cryptocurrency . Cosmos has a current supply of 0 with 286,370,297 in circulation. The last known price of Cosmos is 30.84850549 USD and is up 1.65 over the last 24 hours. It is currently trading on 259 active market(s) with $1,061,535,067.41 traded over the last 24 hours. More information can be found at https://cosmos.network/.
USDT has a current price of $1.00. Tether has a market cap of $69.5B and a 24-hour trading volume of $41.9B. There is no maximum supply, with 69.5B USDT currently in circulation. The highest price ever obtained for USDT was $1.10. This all-time high (ATH) was recorded on 12/07/2017. Tether’s price reached an all-time low of about $0.83 on 06/03/2015.
USDT is a stablecoin that is pegged to the US dollar. Each Tether is backed by one US dollar and can be redeemed for cash at any time. Tether is the most popular stablecoin in the world, and is used by many exchanges as a way to trade cryptocurrencies without the volatility of Bitcoin or other cryptocurrencies.
USDT and Tether are used interchangeably, but technically, USDT is a crypto asset and Tether is the company that issues it. Tether is based in the British Virgin Islands and is not subject to US regulations. This has led to concerns about the transparency of Tether, as there is no way to know how many dollars actually back the currency. Tether accepts and redeems USDT through its website and select exchanges.
Before investing in any financial vehicle, please note diversification is key to any good investment strategy, and this holds true, when you are investing in cryptocurrency. Do not put all your money in Bitcoin, for example, just because that is the name you know or most hear on the street.
There are thousands of options, and it is better to spread your investment across several currencies. Hopefully, the following articles in the subject will help you make better investment decision choices, when investing in Cryptocurrencies, which are in nature a speculative investment.
Until next article, wishing all of you wealthy trading!
Disclosures: The cryptocurrency market is highly volatile, so be prepared for ups and downs. Investors may experience dramatic swings in prices. Investors, who do not have high risk tolerance, cryptocurrency might not be a wise choice of investment. Cryptocurrency is all the rage right now, but investors should remember, it is still in its relative infancy and is considered highly speculative. Investing in something new comes with challenges. Investors, who plan to invest in Cryptocurrency should do their own research, and invest according to their risk tolerance.
Tags: Asset Management, Automated Trading, bitcoin, Cryptocurrency, mam, Money Management, Multi Account Management, PAMM