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Mind Of Mav

Top 5 Penny Cryptos We’re Watching In May 2022

 

The penny cryptocurrencies are those that are priced under $1.00. It has much lower transaction fees than larger coins, meaning you can buy more coins with your budget.

Further, they are less volatile than larger coins, meaning you have a better chance of long-term growth. Penny cryptocurrencies are often still undervalued, so they may be worth more in the future. Here we have the top penny cryptocurrency to buy in May 2022.

VeChain (VET)

VeChain is a DLT platform that aims to improve supply chain management and business processes. It’s designed to streamline the management of these processes and information flow between different organizations/companies while also improving the quality of these processes. VeChain (VET) seems like a solid coin to invest in, but it’s important to remember that it may fluctuate in price over time. 

VET is currently priced at $0.04814 and ranks #37 on CoinMarketCap. VET has a supply of 86,712,634,466 coins with a market cap of 3.1 billion dollars.

On 1w timeframe, the price action $VET/USDT formed out the descending triangle pattern where the price action currently respecting out the Horizontal Support level. Have to wait for the weekly closure so we can check out the further movements

Descending Triangle Pattern
Descending Triangle Pattern

Stellar (XLM)

Stellar is a decentralized protocol with open-source code for digital currency conversions. Stellar is a cross-border payment platform that enables the swapping of fiat currency and any other digital asset. This improves global trade because it creates a single standard for all assets, allowing for integration across different financial institutions.

XLM is currently priced at $0.1781 and ranks #30 on CoinMarketCap. XLM has a supply of 50,001,806,812 coins with a market cap of 4.4 billion dollars.

On the weekly timeframe, the price action of $XLM/USDT formed out of the Descending Triangle, where the price action has broken out of the Resistance Trendline and is currently consolidating at the level of Horizontal Support.

Descending Triangle Pattern
Descending Triangle Pattern

Basic Attention Token (BAT)

The Basic Attention Token (BAT) is a blockchain-based system that tracks how much time and attention media consumers spend on different websites. It does this using Brave, an open-source browser. The goal of BAT is to distribute advertising money to publishers, content creators, and advertisers more fairly than ever before.

BAT is currently priced at $0.6223 and ranks #83 on CoinMarketCap. BAT has a supply of 1,500,000,000 coins with a market cap of 932 million dollars.

On the 1D timeframe, the price action of $BAT/USDT Formed the Bearish Harmonic Bat pattern. The price action filled out the resistance level liquidity and got reversed from the Potential reversal zone level and went down to the Horizontal Support level.

 Bearish Harmonic Bat Pattern
Bearish Harmonic Bat Pattern

Chiliz (CHZ)

The CHZ token is used to power the Socios platform, where soccer and e-sports fans can buy voting to help shape their favorite teams, such as FC Barcelona and Juventus. It might be that there’s a strong bullish trend for CHZ. There were no significant price movements in 2019 & 2020, but CHZ saw an increase in value in 2021.

CHZ is currently priced at $0.1886 and ranks #70 on CoinMarketCap. CHZ also has a supply of 8,888,888,888 coins with a market cap of 1.1 billion dollars.

On 1w timeframe, the price action of $CHZ/USDT has formed out the Descending Triangle Pattern where the price action got rejected out from the resistance level and is currently at the Support level.

Descending Triangle Pattern
Descending Triangle Pattern

Zilliqa (ZIL)

Zilliqa provides a smart sharded structure that makes it perfect for more complex tasks such as data mining, financial modeling, and neural network training – making it perfect for the most demanding use cases. Zilliqa is a good place for investors to put their money. In the next 1-2 years, you might be able to earn more than 100% in return if you follow popular investment patterns like buying on dips.

ZIL is currently priced at $0.083 and ranks #75 on CoinMarketCap. ZIL also has a supply of 21,000,000,000 coins with a market cap of 1 billion dollars.

In the 4H timeframe, the price action of $ZIL/USDT formed the Bullish Harmonic Shark Pattern, where the price action broke down the Horizontal Support level but was still in the ranges of the Potential reversal zone level.

Bullish Harmonic Shark Pattern
Bullish Harmonic Shark Pattern

 

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

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Read about building Crypto Portfolio Diversity by clicking here.

What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

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