Over two weeks ago I made a post about the "Top Coins I'm Focused on during this Bull Market." As you can assume from the title, I was heavily investing into all of these coins, so I thought It would be a fun idea to make this post into a series, each time updating how those coins have been performing and how much up or down I am.
There were 8 coins that I was heavily concentrating on, and they are as follows; 1) Bitcoin, 2) Ethereum 3) Chainlink, 4) Kava 5) Cardano 6)Ren 7) Loopring 8)Kyber Network.
Also, there is one new coin that I began focusing on during this time and therefore will add it to this list and it is TRUSTSWAP.
So how are my investments and coins of interest performing? Let's look into it!
When I published my original article Bitcoin was hovering around the $9,200 price range for weeks and many people thought that it would drop down. During this same time DeFi coins were really performing fantastic and I had confidence that these gains would eventually find their way into bitcoin and they did! At the time of writing this article, bitcoin is nearly $11,800, an increase of $2,500 or 30%. Very satisfied with this, and I see bitcoin continuing to raise in the near future.
My second coin of focus was Ethereum and it has performed amazingly. During the original article its price was at around $236.02, but two weeks like the price has risen to $394.86, an increase of nearly $160, or about 73.47%. The gains of DeFi have finally found their way into Ethereum and hype is continuing to increase for the upcoming ETH 2.0 update. I only see the price of Ethereum to continue to raise, and will continue investing here. Although the new update needs to come quickly as the gas fees have gotten out of control.
And next there is Chainlink. When I wrote the original article the whole Chainlink/Zeus Capital FUD controversy had just taken place and the price of chainlink had dropped to about $7.12. But I felt that Chainlink is an integral part of DeFi, and if defi continues to grow in popularity and dominance, so too will Chainlink. And thankfully I was absolutely right. We are at an all-time high price for Chainlink, and I once again believe the price will continue to raise. I'm very bullish for Chainlink. Currently the price is about $10.13, and increase of about 40%.
Next I was focusing on KAVA, one of my favorite and most bullish coins. It has gone from $2.37 all the way up to $3.44 and is now challenging new all-time high prices. If you aren't aware, Kava isn't a part of the Ethereum defi environment, but can run through many different chains. This will allow bitcoin, xrp, bnb and many or coins to be used with DeFi that normally would have been left out because they weren't build on Ethereum. The market cap on this one is still relatively low and I see this one continuing to increase in value.
Next I was focusing on Cardano. This was soon before the Shelley upgrade was released and this had me very bullish for what may happen with the price. I did think the price would have moved up even further, but there still has been a nice increase going from around $0.12 to nearly $0.15. I still think there is a lot to be excited about here, as more and more people begin to stake that should bring down the available supply, and with further upgrades that will bring smart contracts, a possible coinbase listing and more. There is definitely plenty to be excited about and I will continue focusing on Cardano for the time being.
Ren was another DeFi coin that had me very excited, especially because it helps bring Bitcoin into the DeFi space. During this timeframe the price went from $0.16 to over $0.23. An increase of nearly 44%, can't complain about that at all. Just like with Kava, the market cap to this coin still allows for the price of Ren to increase in the short term future. And because of this, and also my bullish thoughts on DeFi I will continue investing in Ren for the next month.
I am a big fan of Loopring and have grown to like it even more since Publish0x began using it for rewards, It really helps to solve one of Ethereum's larger problems, and I think will continue to have large importance in the scene, especially as DeFi continues to grow. With all of that said, this was one of the few coins that didn't perform that well, and is sitting at around the same price point as it was nearly 2 weeks ago. But being at the same price point is in-fact not bad at all, and I think it will continue to go up. At this point it seems anything defi, will all go up.
8) Kyber Network
Kyber is actually the only coin of my list that has gone down in value, but it was only 2 cents, so that is definitely nothing to worry about. When bitcoin's price went up, it took a lot of the value out of the defi space, and that includes Kyber, and finally it seems Kyber will continue to go up. For the next month I will continue to invest into Kyber, but I am watching it closely.
And finally I am adding a new coin to the list of the cryptos that I am focusing on. This coin is Trustswap, and could be integral for people using crypto for business. This allows companies to have re-occurring bills with crypto that have previously be un-able to do so. This is a critical need for many businesses and especially ones that have subscription-type business models. Something very bullish is that this is a brand new coin and it has launched on very few exchanges outside of uniswap. During my time investing it has gone from $0.24 to nearly $0.41. But actually during its launch month it has gone up over 754%, from 0.05 to $0.41. I definitely think this is a coin to watch out for, and the market cap and use case allows Trustswap to have great potential!
So those were all the updates on the coins that I am investing in, thankfully they have been going very well. But this is the crypto world, and that could change in a hurry. How have your investments been going? And I would love to hear which coins you are focusing on!
As always, thanks for reading!