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I wanted to cover what I thought everybody would like to see and read in todays blog post. That is what my recent cryptocurrency trades have been. Now this isn't financial advice so don't take it as such. I just want to give you some insights on what I've been trading and making profit on. So as always do your own research before making any sort of financial decision. But I'm going to show you all the recent trades I've made recently and why. So lets now get into todays special blog post.
Now this is one of my most profitable trades I have made recently out of all my recent trades. This is because one I've been day trading this crypto the most but also because it's one of the biggest gainers in the altcoin realm. But the reason for that is because there has been so much development behind this cryptocurrency. There are a lot of reasons for that but besides the technicals the team behind the crypto are giving out fantom to developers on the blockchain. But lets now also get into the technicals behind this cryptocurrency now.
Fantom is a directed acyclic graph smart contract platform providing decentralized finance services to developers using its own bespoke consensus algorithm. Fantom aims to solve problems associated with smart contract platforms which is specifically transaction speed which developers say have been reduced to under two seconds. The Fantom Foundation, which oversees the Fantom cryptocurrency offering was originally created in 2018. With the launch of OPERA, Fantom’s mainnet coming in December of 2019. The Fantom Foundation was founded by a South Korean computer scientist named Dr. Ahn Byung Ik. However currently the platform’s CEO is Michael Kong.
The team behind the Fantom cryptocurrency has extensive experience primarily in the field of full-stack blockchain development. They aim to create a smart contract platform which privileges and provides scalability, decentralization and security. Fantom attempts to use a new scratch built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts. The mechanism behind the cryptocurrency, Lachesis, promises to provide much higher capacity and two-second transaction finalization, along with improvements to security over traditional proof-of-stake algorithm-based platforms.
Now I recently have accumulated a lot of Polkadot and have made it 20% of my cryptocurrency portfolio. This is because I really believe in this cryptocurrency I bought in at multiple price ranges but I bought the majority of my Polkadot at the $30 dollar range. I think it'll go up a lot to possibly the $100 dollar range I've heard others say $250 or even $500 but I really don't think it'll go up to that range any time soon or even during this bull cycle. What I believe is I think that Polkadot while hit a new all time high of $100-$150 range. But another reason I've accumulated a lot of Polkadot is because I'm going to use it to accumulate some moonbeam. Moonbeam is another type of cryptocurrency that is trying to acquire a parachain on Polkadot. If you provide dot when the coins ICO drops then you can get some moonbeams for free while making profit on top of your Polkadot purchase.
What Polkadot does is it facilitates the cross chain transfer of any data or asset types. Not just cryptocurrency or it's tokens there for making a wide range of blockchains interoperable with each other. This is great for the internet of things which will be a big part of our everyday lives sometime in the near future. Not just that but also Polkadot will be a great assets to own because it will also connect all these cryptocurrencies blockchains together making it easy to wrap tokens and cryptos through any blockchain you want. That's just the early stage of Polkadots developments once this blockchain get developed and real world assets and NFTS get brought onto the blockchain then the value of Polkadot will go through the roof and to the moon. Polkadot has recently started it's parachain slot auctions with the first one going to kusama and the second auction coming very soon. How these auctions work is basically the one who buys the most Polkadot for the auction is then rewarded the slot.
So recently I bought some Polkamarket off of kucoin at the price of $0.42. I sold it near the $0.52 range It hit even higher price heights when it $0.65 a day after I sold. But I used that money to buy fantom So I'm still making profit on the trade. I might acquire some more Polkamarket when when I get either more cash to buy more of this coin or if it trade and sell one of my cryptos. however the techincals behind this coin are great so lets get into them now.
Now getting into the technicals of this crypto is a easy concept to understand. Simply put this crypto is used to provide liquidly to the polkamarket DeFi platform in the form of cryptocurrency. You can then use these coins on the platforms to earn more by 3 ways. One is through betting on outcomes of events being predicted in real time such as things like the amount of transaction fees collected on a certain exchange on a certain date or the price of bitcoin by a certain date.
Then you can provide forecast and predictions to get rewards and help provide liquidity to the platform. The the last choice you have to earn more rewards it if you have a high enough level on the platform you can start yield farming with the crypto. With a high enough level as well you also unlock things such as NFTS and access to more markets. I think what this platform does more and better then other platforms of these types is the fact that this crypto is more community driven and has more rewards to offer then others. I believe this is a hidden gem being slept on right now and you should get in before it's to late.
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