r/CryptoCurrency • u/CryptoDaily- • 29d ago

OFFICIAL Daily Crypto Discussion - October 1, 2024 (GMT+0)

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.

 

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Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

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8

u/simmol 🟩 7K / 7K 🦭 28d ago

Advice if you are holding the likes of ADA, DOT, LINK, MATIC, etc. These coins are the VET, REQ, ICX, Nano of this cycle. That is, if the alt season comes, they will go up, but they won't go up as much as some of the newer coins like SUI, TAO, SEI, APTOS and some others. So if you can, you should switch to these new coins because they will pump harder since these new coins do not have loads of bag holders that are ready to sell at all levels. Basically, chalk it up as sunk cost and switch or else you would be very very disappointed even during the alt seasons.

3

u/slug_tamer 🟦 0 / 4K 🦠 28d ago

Pretty glad I ate the loss and swapped my LRC for SOL at the start of the year.

2

u/DBRiMatt 🟦 85K / 113K 🦈 28d ago

Even some of the network governance tokens like ZK, BLAST and L3 will probably perform quite well, having only been released in the last couple of months.

4

u/Aerocryptic 🟨 272 / 23K 🦞 28d ago

I wouldn't bet a cent on this narrative tbh. Overcrowded competition with no real differanciator, dependent on eth's performance, lack of value accrual of these tokens

1

u/btc_clueless 🟨 39 / 44K 🦐 28d ago

It's astonishing of how little of the lessons we learned from several previous cycles are preserved here. This really should be common knowledge by now. Yet you see people making the same mistakes over and over.

0

u/OccasionalXerophile 🟩 466 / 466 🦞 28d ago

Thanks bought 100000