Top 15 Projects Under $20M Market Cap UPDATE

On January 22, 2019, I posted a list of the Top 15 Projects under $20m market cap. It’s now February 17, 2019 and some of them are now disqualified to be in the list! Not even a month later. That’s in a bear market too (which I think will be ending soon). Just imagine if we were in a bull market.

Again, these are ordered in highest market cap to lowest market cap. The current market caps are grabbed from Binance Info. I’ve found Binance offered more accurate circulating supplies in coins I’ve followed. If Binance doesn’t have info on the coin, I’ll use CoinMarketCap’s info, signified with CMC. Risk could increase as the market cap lowers, but there’s no direct correlation in my eye, especially with the volatility of the crypto markets. Risk should be assessed by the individual. Always DYOR —

Coins with an * are ones I currently hold. I’ve held each one of these coins at one point or another, whether as an investment or trade.

OVER $20M – Disqualified to be on the list

  • *QNT Quant, $40.8m CMC, +213% – I did pick some up, but it wasn’t a full position. I took profits to ride the remaining free, but may consider more on a pullback.
    • $19.1m CMC on 1/22/19
  • TOMO TomoChain, $28.5m, +86% – I’m missing the ride on this one. Will look for pullback opportunities.
    • $15.3m on 1/22/19

UNDER $20M – Still qualified

  • *OWN Own, $19.5m, +222% – Trying to get itself disqualified from the list as well.
    • $8.8m CMC on 1/22/19
  • *MFT Mainframe, $17.5m, +26%
    • $13.9m on 1/22/19
  • *GO GoChain, $12.1m,  -14%
    • $14.1m on 1/22/19
  • *REN Republic Protocol, $10.4m, -15%
    • $12.3m on 1/22/19
  • MAN Matrix AI Network, $10.3m, -14%
    • $12.0m on 1/22/19
  • SWM SwarmFund, $6.4m, -26%
    • $8.6m on 1/22/19
  • DERO Dero, $5.7m, +46%
    • $3.9mon 1/22/19
  • TRAC OriginTrail, $5.3m, -7%
    • $5.7m on 1/22/19
  • AURA Aurora DAO, $3.6m, -3% – I’ve taken the node down and sold the collateral.
    • $3.7m CMC on 1/22/19
  • SWTH Switcheo, $2.7m, -13%
    • $3.1m on 1/22/19
  • ELEC Electrify.Asia, $1.7m, +6%
    • $1.6m on 1/22/19
  • PIRL Pirl, $964k, -12%
    • $1.1m on 1/22/19
  • *MCM Mochimo, TBD Cap – This is OTC-only at the moment, but they are working on an exchange.

UNDER $20M – Replacements

With two disqualifications, I’ll need to replace those two to stay at 15. Until I have more time to research other coins, I’ll replace it with these two that I’m holding.

  • *LTO LTO Network, $4.3m – Mainnet already launched. Interesting project and way of solving any big dumps with a Troll Tax of 30% for to move LTO coins to the ETH network to sell. I had purchased some before this big rise and now riding a bag for free after taking profits. I’ll continue to take profits here if it rises. It was more of a trade than hodl.
  • *DRGN Dragonchain, $18m – I was initially hesitant to put this one up here, because it felt like “cheating,” but then I realized that it’s been below $20m for the last month. Shows you how much I look at my hodl coins.

I’m going to take another look at the list at the end of Q1 2019. I like to revisit projects and see how their progress at least once per quarter. Need to stay up to date and see whether the projects still have mid-long term value or not, as well as seeing if any opportunities for short-term trades based on any fundamentals.

As mentioned above, I’ve taken down the $AURA node and sold off the node collateral. I haven’t received any rewards yet, but it was recently announced that the first rewards payout would be at the end of the 2/17/19 day UTC time. We’ll see how the rewards go with their calculations. My biggest issues were with constant bugs that would take down nodes and lack of initial transparency. They were quick to take note of bugs and offer band-aid solutions, eg. Infura, but they haven’t been as transparent about the reasons for bugs and sometimes, it even felt like they barely QA’ed the updates in any outside environment. I had setup my node on Day 1 and the node would go offline every 12-24 hours, so I needed to constantly check in on it. I thought that was annoying, so I then updated to their latest 0.1.2 version when released and then my node would consistently go offline. I’d restart and it’d just go offline within 30 min. I wasn’t the only one and there were no real explanations as to why the nodes would go offline. The replies were essentially “the devs are looking into it and you can try Infura” for a better connection. Maybe the devs didn’t know the reason, maybe they did, I just didn’t see any acknowledgement or accountability. The lack of communication with delays on node launches and rewards payouts also didn’t help my perception. With initial node launch delays, I didn’t mind as much, because I’ve managed products from ideation to shipping, so I can appreciate the work that goes in. What I did mind were the nodes going offline and the team not having an answer or didn’t expect that there’d be those issues or they just didn’t want to say anything or…who knows. When nodes go offline, the nodes don’t earn rewards, nor are the nodes helping the network. There’s also no way of knowing how many AURA is being counted in your node. Usually it’s not something I’d worry about, but when I had to run their wallet/staking setup again due to a node failure, I noticed what was counted for my staking amount was only my original deposit of coins, and not any of the new coin transfers. The Discord team said the new coins are instantly counted towards the staking amount, but there’s no way for node owners to check , so we’re supposed to trust that. I’d trust it more if there weren’t bugs. The reward payout delays also didn’t help. Again, there wasn’t much communication on it initially, other than a generalized “it’s coming” or “we never promised when,” even though they did say it would be bi-weekly from the start. All in all, I still use IDEX and still like the project. I’m just not willing to invest into a node for the time being. Any of the AURA trading rewards will be stashed away for now, if they ever get paid out again, and maybe they’ll hit the moon. Last year, they had millions in daily volume, but the bear market and a growing list of DEX competitors are hurting them. Let’s see what happens when the next bull run starts. Their advantage back then were the plethora of ERC20 ICO’s out there. There’re less ICO’s overall now and projects have more technologies now to choose from. It’ll be interesting to see how things go. Remember, Switcheo SWTH has ERC20 and NEO tokens, but they’re also having an issue with liquidity. And with Binance’s DEX coming…well, the DEX space will be interesting to say the least.

REN is my other node and the price has gone down ~15% since 1/22/19, but I haven’t sold this one. Their nodes worked from the start and no bugs that I could see. I’m not a fan of their current, experimental round-robin payout structure, but that’ll change eventually to all nodes getting an equal amount. I don’t like the current round-robin, because I’ve seen some nodes get double payments on the same day. Their CTO has confirmed there was a bug in the payout code. What’s different from the AURA scenario is the CTO directly going into Telegram and saying it’s a bug, owning the situation. He was even open to discussing it with me via DM. That’s transparency and open communication. He doesn’t have to have all the answers, but he tells it like it is or at least his opinion of it.

They just have two different styles of external communication. Some prefer AURA’s style and some prefer REN’s style. The communication doesn’t matter to me much initially. What matters most is the technology and their product iterations, including alpha and beta releases. I want to see the products and what the company considers “alpha,” “beta,” and “official” releases. The earlier the version, the more bugs there’ll be. With bugs, I see how the company responds depending on the impact the bug has. Eg., if more than a handful of nodes are constantly going offline, that hurts the network and the decentralization of it.

Those are my thoughts and in this space, it’s hard to be a bag holder, because crypto changes so fast. Having a coin does not make you a shareholder that the companies are responsible to, so teams are open to do whatever they want. It’s up to you to decide whether or not you want to keep holding. For me, there’re a lot of projects out there and I’m not afraid to cut coins loose if I’m not feeling it anymore. Plenty of fish in the crypto sea.