With over 2300 cryptocurrencies in the market, millions of investors, and billions of dollars circulating, it’s not surprising that there is a surplus of altcoins that are vying for your attention and your money. They promise moonshots and Lambo dreams, teasing your psyche with a terrible case of FOMO.
The historic bear market of 2018 was a result of over-hyped coins and investments flowing into them. Hot bounty programs for crypto projects are often too good to be true because the over promise and under deliver.
In this article we will discuss the top 5 overrated, over-inflated, over-hyped altcoins that we’ve come upon so far in 2019. and what we can expect in the future.
Tron ranks 12th in the top 20 cryptocurrencies by market cap according to CoinMarketCap.com With a market cap of $2.2m, we have to ask, is Tron overrated?
Since its launch, Tron has announced one big collaboration after another. The launch of BTT token on Binance’s launchpad and the airdrop for TRX holders was another major announcement this year. Tron’s platform enables free publishing, storing, and ownership of data, giving content creators the complete rights to share their data at a cost that they can determine.
Though plausible, this project is not the only one solving the content distribution and social media challenges. In fact, Tron is not even the first project to it. Content creators prefer popular platforms because they want to earn and they want to be seen. Is the hype to bring the content creators or to keep them? How long can the enthusiasm remain? It is a question that time can only reveal because the excitement of big announcements fades and Tron needs to keep up with practical and innovative projects before it’s rendered irrelevant.
0x has been labelled a hype machine from the very beginning. Once a for-profit exchange, it metamorphosed into a decentralized exchange protocol and raised $24 million for ZRX in an ICO. Relayers are apps who use 0x to build exchanges for ERC20 tokens atop the Ethereum blockchain, and they can charge a fee.
0x was the first ERC20 token to be added on Coinbase, which brought the hype up to a new level of “See? We’re doing stuff.” One star built on the 0x platform is Augur. will dole out more to enable easy adoption to building decentralized ecosystems. It could be hype but a possible exciting future for 0x.
While this altcoin started as a joke, it has gained more recognition and mainstream media attention than some other projects in the crypto space. Dogecoin is listed on top crypto exchanges it has been riding the hype wave for sometime now.
This coin is named after a Japanese Shiba Inu, has made it to the top on various exchanges. In closed sporting circles, it has attracted huge sponsorship. Dogecoin, is mined in a manner similar to Bitcoins and there are over 100 B Dogecoins in circulation.
Binance coin’s success cannot be overlooked while discussing overhyped coins of 2019. Binance Coin was launched and is backed by one of the largest crypto exchanges in the world. Their burn rate ensures that they maintain a limited supply and drive demand.
Their launchpad requires users to hold BNB and this has created the hype of HODLing BNB over time. It is the native token of the Binance ecosystem and Binance has shown no signs of slowing down. Though overhyped, investing in BNB is a wise decision as per experts in the community.
Redpulse is the first ICO to run on the NEO ecosystem and with a solid team of advisors Red Pulse is a project with promising potential. Unlike other overrated altcoins, it has been around since 2015 and has live partnerships with firms like Bloomberg and Reuters. They have more than 1 Million subscribers of their independent research project and their popularity is set to increase with time.
While most traders buy into the hype every now and then, it is not advisable to go all on altcoins or especially overrated ones. Crypto market is highly volatile and it is recommended to consult an expert to devise effective strategies for your crypto portfolio. But despite thsi Altcoins like BNB and Redpulse have true potential and are worth watching out in 2019.
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