Virtual Currency - Alt Coin Discussion Thread

How about now, two years later? Which five would y'all pick?

I'm a nit and have not been following closely, probably going all SOL.

Sol, drift, link, ondo, ena

I’d keep ETH, Monero, Rune and Avax from my list and replace Atom with Sol.

For whatever reason, the market continues to place an incomprehensibly large premium on layer-1 assets even if they’ve achieved absolutely nothing for years (see polkadot, cardano) while app-chains and layer-2’s are treated as bastard stepchildren second class citizens valuation wise (which is probably closer to fair value than the layer-1’s but that’s for another day).

At some point valuations will have to drop significantly either due to dispersion/dilution of investor capital/attention as the “token founders launch 47th iteration of modular/zero knowledge/restaking/other buzzword infrastructure project at a multibillion FDV and cash out 8+ figures with nothing to show for it” as supply of blockspace far exceeds users/demand for blockspace, or the market matures and collectively stops rewarding the VC/founder grift behavior. Worldcoin for example has $17m daily unlocks for the next 750 days or something absurd. There is literally no demand to satisfy that so its chart should go the way of Internet Computers.

so I’m like 90-95% blue chips (btc/eth/sol) with 5-10% in one micro cap ($5m) app-chain as my moonbag. if it hits big I have enough capital invested that it will dwarf my blue chips combined, but if it does nothing (single digit multiple by cycle peak) I’ll still have done well enough with core holdings (assuming I exit the market correctly time wise) to set me up very well for the next cycle (or become a TradFi boomer and move to mostly equities).

part of me thinks the “alts are going to zero” reckoning could be a cycle away or less (ie: no market wide alt szn this cycle), and if that were to happen I think you’re going to see thousands of projects become zombie ghost chains as founders/devs simply walk away upon the realization they aren’t going to get FU-money rich on a hype cycle dumping on retail + dev salaries aren’t worth it without the cash out opportunity.

so tldr: a large core position of btc/eth/maybe sol probably offers the best risk adjusted returns as they’ve all achieved PMF in different use cases (btc: money; eth: tech platform/TradFi use cases; sol: cheap normie/meme chain). beyond that seems to be guessing/luck as there’s simply too many projects for a crypto native to keep track of now let alone a NPC with zero exposure to the ecosystem.

and monero is just cool. has 10 years Lindy/track record and an easy enough narrative for the masses to accept: digital private cash.

the thing these coins all have in common is they’re all nearly fully distributed/emitted with no huge VC unlocks/constant sell pressure. Sol is 80% max supply but weathered that storm admirably during the bear market/FTX collapse which bodes well for its future imo. wish I had more cash available late 2022 when it was sub-$10.

Tough to hold alts in this down only stage but ZRO showing some major strength. Could pair trade ZRO/W if feeling risk adverse.

If anyone airdrop farms I’d highly recommend spending some time farming hyperliquid. I’m in defi/farming pretty deep so I never know if something is unknown to most, but if you’re not familiar I’d take some time. Basically building a new L1, zero vc funding, spot memeesque market, large perp vol with cex like feel with a bunch of normie friendly features.

Right now besides farming the obvious stuff and adding to ETH, SOL bags I’m only looking to bid good farming coins that aren’t complete trash….think stuff like ARB being paired with ETH lp in maybe a 25% range is getting to the point it’s worthwhile with plans to spot hold on further breakdowns.

Thanks for sharing your insights, Johnny. ♥

Thanks mate. Would you be bidding 'newer' L1's such as SUI/SEI should they fall another 50-70% in the next few months. More likely than not to see new ATH's in the future should they weather the storm and at those levels believe the r/r could possibly be worth it.

My depin (DEcentralized Physical Infrastructure Network) pick is FLT (Fluence AI). Especially right now before main net staking is deployed this summer.

50M tokens liquidity + 50M airdropped to GitHub devs that worked on any open source project, so pretty weak hands just selling off.

Basically they will sell decentralized compute. An AWS competitor but no contracts, decentralized, pay per compute used, verifiable data on chain, etc...

Token is on Uniswap main net or non-us exchanges like gate io, bybit. Low float right now, team unlocks start in March 2025 so look to sell before then. Currently below $.30

No one seems to care about privacy coins.

Would love hear your 5m cap pick.

Thanks for the great post, really informative and I agree.

Rather than buying actual privacy coins, farming for the new ones might be better although a lot of the good opportunities are done now. Aztec, zk, et cetera

Anybody trading FIDEUM, FI?

For privacy...I have said it before, COTI. COTI is an EVM L2 solving blockchain privacy with Garbled Circuits – 1000x faster & 250x lighter than other privacy solutions. They were just vetted and announced in helping Israel create a CBDC as well. This company has a few great irons in the fire as well (DJED for ADA). This company will do very well in the coming 12-15 months, I can see a run to $4 or so for them if the stars align with bitcoin/ETH running to new highs as well. Not financial advice, but I feel pretty good about this little Israeli company! 😀

^ just a 40x. let's go

I was able to jump into some more SOL at 120'ish at this latest dip... today is looking fantastic.

SOL is such abject dog ****. Literally the SBF Ponzi chain. Psyopped from the dead.

It actually makes me sick

Using SOL is basically sucking the VC dicks that despise you

That couldn't be further from the truth.

Which part?

Elon's Department Of Government Efficiency is attempting to breakout

lol

SOL to 205$ today... yeah baby, go go go.

what's this cycles sol? I'm thinking immutablex

I don't even understand what you are asking here.

ETH thread is gone?

Anyway good day for everything but ETH has had a great week.

Now one more double ETH and I'll retire.

It's not closed, I just bumped it.