Finding New Projects With Promise
My readers will know that I don't restrict myself to one aspect of Crypto. I love looking for passive income opportunities, I trade full-time, I do some content creation, build Crypto economies that feed off of each other to grow and last but not least I enjoy seeking out "dark horses".
Recently I have been posting a bit on the Polkadot network. My most recent post "Kusama - Polkadot's Wild Cousin!", looks at the project from the Polkadot network which has done 800% since February 2020.
EDG is Polkadot's first smart contract chain enabling the deployment of code to the Polkadot network. Smart contracts are written in Rust and executed in WASM. Edgeware's on chain treasury ensures maintenance and funding of the protocol. EDG is community-owned and super efficient but will it succeed?
As I have said before, when it comes to smaller projects that are yet to prove themselves, I tend to start small. I buy an initial position and if the project delivers and gains momentum, I continue to add to that position. Obviously, a fat dump is the best scenario but sometimes you just have to keep averaging in as price action might not allow you another cheap entry.
EDG is still moderately priced and is up 200% in two months. Volume is still fairly reserved and needs to be monitored going forward. The current price is 75 sats and is up 12% for the day. This might be one of the riskier Polkadot plays but I have decided to start a small journey with it. If it performs well that could turn into a long journey. I set aside a portion of funds that I specifically use for high risk plays and today it's EDG.
I hope to give updates on the performance of EDG in the coming weeks and months. Remember alts are very risky and you should always do your own research. As always, this is not financial advice but rather my own endeavors and strategies.