New altcoins are launching every single day. The month of May has seen an enormous amount of launches in comparison to prior months, and that trend doesn’t appear to be slowing down at all. None of these new cryptocoins will get very far without strong trading support. The ones that can get listed on multiple exchanges and gain traction with traders have a chance to progress in the Game of Coins.
Here are a few coins that did us that this week.
Granite Needs An Identity
Granite is an X11 with Digishield with a total coin count of 65,000,000. This crypto was added quickly to Bittrex and then had a quick ‘pop’ in price. There’s very little to gleam about Granite from their ANN Thread.
This lack of detail was not lost on astute DoctorG, who said: “Other than that Im wondering what the hell this coin is about. been mining from 24 hours, got 17 coins. Not sure this is going to be even slightly profitable. Granite needs identity.”
Granite has had over 7 BTC of trade on Bittrex in the last 24 hours, so it appears active. Next up will be seeing whether the Dev comes back and makes progress in order to ensure early investors and miners that’s he’s active. The price has dwindled rapidly from its all-time high so he’ll need to act fast.
Libertycoin Is Still Being Pumped
Libertycoin got listed everywhere fast. Libertcoin (XLB) followed that recent trajectory of going on Bittrex.com, demonstrating volume, then being taken on by Poloniex and MintPal. This is generally a sign that this altcoin is the current Pump’n’Dump darling of the moment. The back story is that Libertycoin is going to ‘increase people’s liberties‘ or something like that, because it will somehow help people protect their privacy. With fast-growing volume the back story is not really all that important. Right now XLB has traction and there momentum should last for a while.
If the pumpers turn to dumping, you may have a problem. Monitor XLB closely in case of big swings in either direction.
GoalCoin Has The Goal Of Educating Football Fans About Cryptocurrency
GoalCoin got listed quickly on Bittrex and moved up the ranks due to its low total coin supply. Goalcoin has taken a unique spin with their Mission Statement of “Goalcoin is the first cryptocurrency created specifically for worldwide sporting events.”
They’ve pegged their hopes on the World Cup 2014, which will be held in Brazil. The team has created a website that allows people to predict which team will win. The project leaders say they want to educate football fans worldwide about cryptocurrency. Whether they’re the right team for the job remains to be seen, but pegging their altcoin to a major worldwide event should help with marketing. The GOAL market on Bittrex has seen substantial upward trending.
Sync Says It’s An Altcoin For Long-Term Holders
Sync had a big week with the quick addition to numerous exchanges. Their ‘USP‘ is a total coin count of 1,000. In general it’s easier to push up the coin price based on a small total coin supply, and Sync’s is really tiny.
The idea behind a tiny coin supply and PoS is that the coin will hold value for investors over the ‘long haul.’ Whether that will happen is anybody’s guess because, in general, two weeks is a very long time in Altcoin City. People who are crypto enthusiasts do not generally have long-term ambitions, although there are always exceptions to that rule. This coin is marketed to those people. If they hold and avoid the temptation to dump quickly, the price should rise.
Altcoins Are Ready To Switch Over Into Summer Mode
The price of Bitcoin has risen sharply this week. That, and Summer, are bound to alter the landscape of Altcoin City in June. One thing’s very likely to happen. This summer college kids will get into cryptocurrency at a high rate. This new breed of consumer is key to the continued success of alternative cryptocurrency.
Let’s hope they get treated with respect and become educated in what’s really happening. There’s a lot of money to be made for new market participants, as long as they do their homework! We’re adding a number of additional resources to our site as we continue to track the growth of altcoins from the frontlines. If BTC rises even more sharply, things might get very interesting very fast! We’ll be tracking how things go, so stop back frequently for more information.