August 10, 2022 3:42 am

A new social media platform Truthbook.social built by the people for the people, a force for good.

First Mover Asia: Remember ICOs? You Would Have Made a Fortune if You HODLed; Bitcoin Slogs Toward $20K

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

We are a not for profit Independent Media Group, which survives off donations. Even as little as $5 per month, from our generous readers. Please donate now, to help fund our work.

First Mover Asia: Remember ICOs? You Would Have Made a Fortune if You HODLed; Bitcoin Slogs Toward $20K

By Sam Reynolds, James Rubin

Investors who purchased a breadbasket of blue chip coin offerings about five years ago would have generated an 819% return, even with the current bear market; most cryptos fell in Tuesday trading.

Prices: Bitcoin slogs toward $20K; ether and other cryptos slide.

Insights: The performance of blue chip ICOs over five years may resonate with investors concerned about the current bear market.

Prices

Bitcoin (BTC): $20,281 -2.5%

Ether (ETH): $1,143 -4.9%

Biggest Gainers

Asset Ticker Returns DACS Sector
Terra LUNA +17.8% Smart Contract Platform

Biggest Losers

Asset Ticker Returns DACS Sector
Shiba Inu SHIB −9.7% Currency
Dogecoin DOGE −9.6% Currency
Decentraland MANA −8.9% Entertainment

Bitcoin Slogs Toward $20K

So much for the good times.

Bitcoin dipped for a third consecutive day to fall perilously close to the $20,000 threshold it had eclipsed last week and that has become a psychological barrier for investors who see the current bear market worsening.

The largest cryptocurrency by market capitalization was recently trading under $20,300, down about 2.5% over the past 24 hours as investors eyed the latest influx of discouraging economic data. On Monday, the U.S. Consensus Bureau’s durable-goods report showed orders in May rising higher than estimated, fresh evidence that the economy was not cooling enough for the Federal Reserve to moderate its current monetary hawkishness.

Tuesday, the Conference Board found consumer confidence in the economy lagging to its lowest level in almost decade, a sign of the anxiety spurred by rising inflation, geopolitical unrest and recession fears. The report dovetails with the University of Michigan’s consumer sentiment index falling to an all-time low last week.

Ether, the second-largest crypto by market cap, was changing hands below $1,200, off almost 5% over the same period. Most other major cryptos were in the red with SHIB and DOGE plunging nearly 8% and 7% respectively at one point. The popular meme coins had led in market returns for the past seven days.

Stocks

Crypto’s downturn tracked stock markets, which fell for a second consecutive day as last week’s surges faded increasingly into the background. The tech-focused Nasdaq dropped nearly 3% while the S&P 500 fell 2% and continues to linger in bear market territory, meaning that it has dropped at least 20% from its previous high.

Investors on Wednesday will be listening for statements about the global economy from central banking heads who have been meeting at a forum in Portugal. Later in the week, they will look for declines in May’s Personal Consumption Expenditure (month-over-month) and the June Purchasing Managers Index for manufacturing, a widely watched measure of monthly economic activity published by the nonprofit Institute for Supply Management (ISM).

Crypto markets saw a return of the type of high-drama events that have unsettled markets over the past two months. The CEO of the futures crypto exchange CoinFLEX accused the Bitcoin Cash supporter and noted investor Roger Ver of owing it $47 million in the stablecoin USDC. Ver had tweeted earlier Tuesday that “some rumors have been spreading” that he had defaulted on a debt to a counterparty; instead, he said, the counterparty “owes me a substantial sum of money.”

And after a report emerged that the crypto exchange Huobi Global might cut over 30% of its workforce, an official at the rival exchange OKX announced plans for the company to increase its headcount by 30%.

Oanda’s Erlam was pessimistic about crypto markets’ path in upcoming days “given the stream of negative headlines over the last couple of months.”

“I fear more may follow in the weeks ahead and I wonder whether the community does too, given its inability to get any traction above $20,000,” he wrote.

Markets

S&P 500: 3,821 -2%

DJIA: 30,946 -1.5%

Nasdaq: 11,181 -2.9%

Gold: $1,819 -0.2%

Insights

If You’d Held Certain Blue Chip ICO Tokens, You Would Have Earned Big

“EY found that only 29% (25) of the 2017 ICO projects that EY assessed have progressed to prototypes or working products – an increase of just 13% from December 2017. The remaining 71% have no offering in the market,” the professional services firm wrote at the time.

Looking back at this sector five years later, was it really an epic loss for all involved? Or were there some triumphant wins too? The performance of ICOs resonates loudly today as crypto experiences its latest severe bear market.

To be sure, the ICO sector was rife with fraud: The U.S. Securities and Exchange Commission (SEC) dished out plenty of charges during this period, charging many teams with offering unregistered securities or cases of outright fraud.

Cardano, Tron, ChainLink, Filecoin, Crypto.com, Bancor. These are all names that emerged from the ICO bubble and went on to build big, important projects.

CoinDesk - Unknown
Bitcoin purpose ETF flows. (Glassnode)

Using data from ICODrops, CoinDesk put together two portfolios of ICOs: a “blue chip” selection of the 100 most big recognizable names and a broad selection of 200 ICOs.

CoinDesk found that if you were to buy, and HODL, a broad selection of blue chip ICOs (data was measured in late May 2022) you would have done spectacularly well to the tune of a return of 819%. This would have blown away most other investments one could have made, including buying Nvidia’s stock, one of the best-returning stocks of the last decade, in late 2016 or the S&P 500 and the Nasdaq-100 Technology Sector Index (NDXT).

Why is this exactly? Because these projects required time to thrive.

Sure, if you had a portfolio without these projects it would have a pittance return. And if you had a broad portfolio that had everything your return would have a lot less – but still something on par with the S&P 500.

Measuring their success during the heart of 2018’s crypto winter would produce lukewarm results at best: Crypto was an asset class with a $150 billion market cap in late 2018. Now, even with all the challenges presented in the last quarter, crypto is a $940 billion asset, and many of these projects that were born in this bubble are now major industry stakeholders. What a great investment for the HODLers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Please support independent media and give a donation small priority large. This means we can continue to fight for friends and family to have a future and defend free speech.

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

RT News - August 07 2022 (20:00 MSK)

We are not live at this moment. Please check back later.

Watch Now for Free

Share with friends now plus add us to your TV and other devices and help kill mainstream media

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on pinterest
Share on email

Click to Watch Now for Free

Jamie McIntyre
TruthBook.social Videos

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

We are only 27% funded for next month's operations.

ANR is fully funded by our readers, people like you who often can’t stand mainstream media lies and propaganda. So please help us continue exposing the truth and helping defeat the Globalists and defend your and your children’s futures.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset and help us expose the Covid Fraudsters

just $5 a month helps

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY