Although there are many popular cryptocurrencies out there that would be a good buy, and even more worth watching, it sometimes makes sense to refrain from trading certain assets in the cryptocurrency industryfor one reason or another, at least for now.
In this context, Finbold analyzed the crypto market, taking into account ratings (such as the Weiss Crypto Ratings), historical performance and recent developments (or lack thereof) regarding certain digital assets to arrive at the list of those that crypto traders And investors to be avoided for now.
Matrix AI Network (MAN)
Despite the recent resurgence of interest in artificial intelligence (AI), boosted by the popularity of OpenAI’s text-based platform ChatGPTMatrix AI Network (MALE) failed to take advantage of it or come close to its all-time high (ATH) of $2 which it reached in May 2018.
At press time, MAN ranks 818th by market capitalization and has a daily loss of 8.09% as it changes hands at a price of $0.04. Despite its cumulative gains of 8.61% over the week and 56.17% over the last 30 days, this crypto currently has a low E- score At Weiss Crypto Ratings due to its very low adoption and momentum.
PotCoin (POT)
Another Cryptocurrency At Press Time With Equally Low Adoption (and Technology) score because Matrix AI Network is PotCoin (JAR), the ecosystem token that is “leading the legal cannabis revolution” and providing “block chain payment technology and ecosystem solutions to empower the cannabis industry.
Also classified as “high risk” on the risk gauge speak investment guide platform InvestorsObserverPotCoin is posting losses across all of its charts, down 16.26% in the past 24 hours, 6.64% in the past week, and 15.33% in the previous 30 days, at press time at press time. $0.001565.
Smart Sharing (SSP)
With a market capitalization of $130,000, the Smartshare (SSP) ranks 2,056th among all digital assets, despite its promise to deploy blockchain “to assess and quantify the substantial value of all sharable objects, as well as to facilitate the exchange of the sharable value of all objects shareable”.
Also, SSP has very low adoption score, because only 36,779 addresses hold this token on the network. At the same time, its performance in the market is described as weak, changing hands at a price of $0.000013, down 7.12% on the day, 13.36% on the week and 7.11 % last month, according to data retrieved March 3. .
Conclusion
While it’s a good idea to avoid the aforementioned cryptos for now, recent crypto market experience loses 50 billion dollars in an hour has shown that the situation can change drastically very quickly, so it is important to observe market sentiment and do thorough research on any asset before investing.
Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.