Some cryptocurrencies are not a good investment for cryptocurrency speculators because their prices are not increasing. Investors have in the past profited from price increases [VIDEO] of cryptocurrencies such as Bitcoin. The prices of these cryptocurrencies have stagnated or reduced due to factors such as oversupply, lack of investor interest and low demand. Below are Top five cryptocurrencies whose prices have stagnated or are on the downward trend.
EOS (EOS)
Cryptocurrency EOS is ranked the 18th regarding Market Capitalization. EOS was introduced on July 3 this year with an introductory price of $4.56.
Its current price is $1.29. Its price has thus devalued by 253 percent since it was introduced. An investment of $1,000 when it was introduced is now worth $282. The cryptocurrency exchange site that mostly transacts this currency is Yunbi, CHBTC, and Bitfinex.
Basic attention token (BAT)
This cryptocurrency is ranked 34th regarding market capitalization. It was first introduced on June 2 this year with an introductory price of $0.17. It is currently priced at $0.18; an increase of only 5 percent. A $1,000 investment when it was introduced is now worth $1,050. Despite having a high market trading volume of $2,425,000, the price of the cryptocurrency continues to stagnate.
MCAP (MCAP)
MCAP is ranked 45th regarding market capitalization.
It was introduced on June 1 with an introductory price of $6. It is now priced at $1.80. It has thus lost a value of 233 percent since it was introduced. However, its market capitalization continues to increase due to the increase in the number of MCAP coins being supplied. Its market capitalization was $30 million when the currency was first introduced; its market capitalization now is $141 million.
78 million out of 100 million MCAP coins have been supplied. The currency might begin to increase in size once 100 million coins have been provided.
MobileGo (MGO)
MobileGo is ranked 59th regarding market capitalization. 98 million out of 100 million MobileGo coins are in supply. The currency was introduced on June 14 this year at a price of $1.93; its price now is $0.90.
This cryptocurrency has thus lost 112 percent of its value since it was introduced.
Metaverse ETP (ETP)
Metaverse ETP is ranked number 63 regarding market capitalization. Its current coin supply of 22 million out of 100 million is very small. Metaverse ETP was introduced on June 27 this year. It was priced at $5.81 on June 5. The currency is currently valued at $3.20, which is a 55 percent reduction in its price value.
Prices of crypto currencies whose value is stagnating or on the downward trend could be as a result of high coin supply, lack of buyer knowledge on the existence of the currency, weak demand as well as the lack of market confidence. Very few cryptocurrency exchange sites may also be unwilling to include these currencies on their trading platforms. Below is a video on tips when investing in cryptocurrencies.
