$8 Million Market Cap Opportunity
Hashgard is a project that I have mentioned before and began accumulating a little over a year ago. I have noticed that recently a couple of influencers have taken note of GARD, as it does have some tremendous upside potential but it is definitely a very risky play and that is why I have chosen to average in very slowly over time. Currently, the market cap is a mere $8 million and has a ranking of 445 on CoinGecko, while it trades approximately $320K in a 24 hour period.
These numbers are pretty low and I think the volume is the most important metric to be watching at this point. Massive moves without volume will usually deflate and collapse straight back down.
That being said, GARD has managed to sustainably increase in value over the past 2 weeks and is currently breaking out again after a short period of consolidation.
New Generation DeFi Public Chain
Hashgard has links to Cosmos and are actively building on the Cosmos ecosystem. When visiting their official page, you will notice that the team appear to be very ambitious. Whether they succeed or not remains to be seen.
Hashgard is a new generation Decentralized Finance Public Chain, followed by other 80 well-known investment institutions. Based on Cosmos, Hashgard public chain also self-develops the first high efficiency virtual machine in Cosmos ecosystem and would realize cross-chain interaction through IBC protocol. Hashgard aims to be the infrastructure of a trillion-level digital asset market by building up an open, highly scalable, secure and reliable Decentralized Finance ecosystem.
I think that a gradual investment approach to Hashgard is most likely the best approach as it offsets a lot of risk. Wait for retracements and consolidation phases, in so doing you are buying on support and not resistance. Looking at the metrics on CoinGecko it becomes clear that there is some new interest and eyes on GARD.
GARD is up over 360% in the last 30 days and is currently up over 56% for the day. With a market cap of only $8 million it is very likely that Hashgard will 10X or 20X fairly easily in the coming months, provided the DeFi narrative keeps it's wheels on. This is definitely a project to watch for short to medium-term gains. I don't particularly see any signs of long-term validation at this point but that could change in the future.
Another attractive feature is that holders of Hashgard can stake GARD in the official wallet that can be downloaded via the official website.
I am not sure of the staking rewards and how lucrative they are, as I have not staked GARD as of yet. There is also no disclosure of percentage gains on the official website to my knowledge.
Please note that this is not financial advice and should be consumed as entertainment. All investment decisions are your own and at your own risk.
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