The digital finance industry often sees ups and downs of promising crypto projects. This depends on a number of factors. For example, the lack of community support and, consequently, low demand for the product.
For example, the once popular Tether Gold, which offers users the opportunity to convert their savings into physical gold, has fallen by 88.93% since March. Analysts believe the reason for this is the decline in demand for stablecoins. Potential investors no longer trust these assets and are in search of new projects with which to make money. These include Wall Street Memes, Ecoterra, and DeeLance. Below, we take an in-depth look at new projects with great potential and why the price of Tether Gold is showing a decline.
3 new cryptocurrencies that can bring more profit than Tether Gold
There are a lot of different projects emerging in the cryptocurrency market that can bring profits. We have researched three new digital currencies that are in pre-sale stage and are in high demand among investors.
Wall Street Memes
The Wall Street Memes community is well known in the cryptocurrency industry. May 2023 saw the release of their new eponymous project, which raised over $100,000 in just a few minutes. This success did not surprise analysts: more than one million people follow the company’s news on social media. In addition, immediately after its release, the product attracted the attention of Ilon Musk, a big fan of meme-coins. On Twitter, he reposted a post from the WSM account.
Unsurprisingly, WSM’s new project is in demand. In 2021, the team sold an expensive collection of NFT Wall St Bulls worth $2.5 million. It’s worth noting that only 32 minutes had passed since the launch then.
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When creating a meme-coin, the developers were guided by the following idea: a digital asset should express the company’s desire to change the usual view of the market. In 2021, the Wall Street Bets community on Reddit began to raise the shares of GameStop (a store of games and paraphernalia), thus achieving the closure of the Melvin Capital Management fund. This event inspired WSM to create its product.
Potential investors should note that 100% of all tokens issued will be presented to retail investors. WSM did not support the idea of conducting a private sale. It was decided to distribute the coins as follows: 50% – pre-sale, 30% – cryptocurrency rewards, 20% – providing liquidity on DEX and CEX (10% each, respectively).
Registration for Airdrop is open on the official website of the project. Wall Street Memes representatives plan to select 5 people from the total number of users and give them access to $50,000 worth of coins.
Now 1 WSM token is selling for $0.0304, having raised almost $11 million in investments. In the last (30th) stage of the presale, the meme coin will be priced at $0.0337.
Pros of the project:
- A large community, whose active support positively influences the value of the coin in the future.
- Opportunity to grow to the level of Pepe and Dogecoin.
- The rapid progress of the presale speaks about the high demand among investors.
- An experienced team is working on the product, which is aware of trends and news on the market.
Ecoterra
Ecoterra is an ecostartup designed to monetize the contribution to the environment. Popularization of recycling is one of the main goals of the company. Ecoterra representatives want to prove that taking care of the environment can be simple, convenient and profitable.
At the moment they are working on the Recycle-to-Earn application. With it, users will be able to record their achievements (recycling) and receive rewards ($ECOTERRA tokens). Soon it will be possible to register for beta testing.
Anyone can use the application regardless of their country of residence. It is important that the user has access to reversible recycling machines. As a rule, they can be found in large shopping centers in developed countries.
Experts are already talking about the long-term prospects of the project, given the size of the potential market and the scale of the idea. This means that the ECOTERRA cryptocurrency has a great chance of success.
The company reports that it will be possible to test the alpha version of the product as early as the end of 2023.
Investors can purchase $ECOTERRA as part of the presale. At the time of writing, one token is selling for $0.00925. The amount invested in the project is now over $5.5 million.
Pros of the project:
- Cooperation with well-known brands: Coca-Cola, Carlsberg and Evian.
- Lack of competitors and analogs.
- Recycling of garbage will now bring real income.
DeeLance
DeeLance is a freelance system in which customers and performers can easily and comfortably interact with each other. It is developed on the basis of blockchain technology, which helps to realize the security of transactions conducted within the platform.
The system is a virtual space with the lowest commission – customers will have to pay no more than 2%. Another distinctive feature of the project is the speed of withdrawal of funds. The developers claim that it will be possible to do it instantly.
Also, community members will have access to NFT, with the help of which it will be possible to present themselves in the workspace and customize virtual offices.
Working on a Web3-based platform eliminated many of the problems and shortcomings common to Web2: lack of control over data and content, high commissions and long waits for payment for work done.
The $DLANCE token is available for purchase on the pre-sale. Investors can purchase the coin for $0.043. More than $1.4 million has been raised so far.
Pros of the project:
- Product from people who have extensive freelancing experience.
- Support from the venture capital firm Bitgert Ventures.
- Ability to find reliable and trusted employers and performers.
Tether Gold – what it is and why investors are switching to other cryptocurrencies
Tether Gold is a cryptocurrency that is backed by physical gold. It is held by a company called TG Commodities Limited. An XAUT token is one troy ounce of such gold.
What makes Tether Gold stand out among the many other digital assets is its owners’ ability to earn the precious metal. That is, those physical assets held by TG Commodities Limited are legally owned by the holders of the above token.
It is possible to redeem such gold in a few steps: send a request to the company and go through the verification process or instruct it to sell the metal and convert the amount into cash. To do this, you need to have XAUT coins in your account.
However, the token is now falling. According to CoinMarketCap, trading volume has dropped 22.24% to $6.5 million in the last 24 hours. The coin can now be purchased for $1929. At the same time, the historical maximum was recorded at $2169 back in March 2023.
This event takes place against the background of a general decline in the popularity of stablecoins and the interest of regulators, which affected the prices of classic digital assets.
Wrapping up
Experts note that pre-sales have great resilience to changes in the market, as their price has been consistently increasing with each round.
We remind you that investing in any assets may carry risks. It is advisable to check information carefully before investing and not to invest more than you can afford to lose.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.