Project Use Cases

The advent and use of cryptocurrency is synonymous with the highest thinking levels of human development. When currency was in its earlier stages, physical materials of scarcity such as gold provided the underlying value. As we can see with smart contract enabled development platforms, such as Ethereum, Cardano and Solana, things can be done differently. The underlying value of assets such as these, revolves around data, efficiency and progress; much in the same way that the world wide web is valued in and of itself.

The best performing cryptocurrency projects are those which best fill a global need. Bitcoin for example fills a global need for financial inclusion, however there are many other cryptocurrency platforms which serve far more specific needs. Empowa – a project built on the Cardano blockchain that focuses on creating affordable housing in Africa – is a great example of a cryptocurrency with a highly specified use case.

When selecting coins for investment purposes, always consider what its real-world application is. Projects with a strong use case are far more likely to perform better over time than projects with weaker use cases.

Development Teams

If you were to ask a room filled with venture capitalists what they look at when determining whether to invest in a new project, many, if not all of them would tell you that they look at the development team behind the project before they anything else. The same goes for cryptocurrency. The best performing cryptocurrency projects tend to be the ones with strong development teams. If a team has a reputable track record for creating successful projects, then it’s likely that new projects which they develop will be prosperous as well. In many cases, projects with weaker use cases and a strong development team will outperform projects with stronger use cases and weaker development teams.

Another factor to consider beyond the track record of a development team’s previous projects is the team’s ability to meet goals within their own roadmap in a timely manner. If a project is doing a good job of following its own roadmap by regularly achieving goals, then it is likely that the project will continue to stay competitive as well as relevant in years to come.

Tokenomics

Understanding the breakdown of how a coin works is vital knowledge when selecting projects to invest in. learning how a coin works at the deepest levels will help you with forecasting to a degree, but more importantly, this knowledge will help you avoid potential rug-pulls and other detrimental situations that could occur because of how funds within the coin’s ecosystem are managed. The tokenomics of a coin will reveal other useful information as well, such as a coin’s potential staking rewards, or any other feature the coin may have that would add to its potential value as an asset.

Conclusion

The fundamental coin selection process is different for everyone. If you are a member of the Killer Whale Pod, we highly recommend using the coins we’ve placed on the Killer Whale suggested coin list when selecting coins to trade with your hopper. Killer Whale updates the Killer Whale suggested coin list periodically to match market conditions, so keep an eye on it to ensure you’re getting the best results out of your bot!

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