Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: I am Praise on March 18, 2024, 06:31:38 PM
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I was in the twitter crypto space when i stumbled upon SYLO, i did a quick research and discovered its an infrastructure layer for data, powering interoperability for assets and users throughout the open metaverse. It is built in the interoperable metaverse, powered by the seekers community.
The project has also caught attention of leading exchanges like Bitget, Gateio, Coinex and Kucoin. I am yet to conclude my research on it and would appreciate some insight from my fellow enthusiast.
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I remember holding some of their tokens in the past. I got it from their campaign and traded some of them. As far as I can recall, they don't really market themselves that well and their tech is not easy to understand for the average joe either, so unless they do a massive marketing campaign I doubt it will be mainstream. Another factor to consider is the demand for the token is quite low if they fail to gather new users for their app. At the very least, that's how it goes when I still follow them closely. If what you say is true, then it seems they pivot to metaverse instead of privacy/decentralized data as their main marketing material.
Listing on those exchanges doesn't necessarily mean they will be successful. I'd temper my expectations if I were you. I'd say they can be a low-priority pick if you're looking for 50% gains or more when the bull market happens. As always, DYOR and DWYOR.
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I was in the twitter crypto space when i stumbled upon SYLO, i did a quick research and discovered its an infrastructure layer for data, powering interoperability for assets and users throughout the open metaverse. It is built in the interoperable metaverse, powered by the seekers community.
The project has also caught attention of leading exchanges like Bitget, Gateio, Coinex and Kucoin. I am yet to conclude my research on it and would appreciate some insight from my fellow enthusiast.
Talking about the SYLO it's a decentralized communication platform. This token is really make a great wave in the crypto space, well it focus on privacy and security. Well it allows it users to control their own data and communication, it is gaining more popularity among other platforms with are concern about privacy of traditional communication.
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I was in the twitter crypto space when i stumbled upon SYLO, i did a quick research and discovered its an infrastructure layer for data, powering interoperability for assets and users throughout the open metaverse. It is built in the interoperable metaverse, powered by the seekers community.
The project has also caught attention of leading exchanges like Bitget, Gateio, Coinex and Kucoin. I am yet to conclude my research on it and would appreciate some insight from my fellow enthusiast.
Never heard about this project before, my first expression about this project is, it will (not 100% sure) give some profit to its holders as gamifi narratives are pumping day by day and a time will come for these coins as well. But as the joniboini said, there are other better tokens in the market that can give you better outcomes, all you have to do is find them.
BTW website of this project resembles with deso platform's website. I like these types of websites they are so attractive although not an indicator that project is going to make you profit (hehe) I checked the roadmap of this project, they are some updates but nothing about partnerships and something that can attract new participants so I guess joniboini words are 100% right so you should consider them. Listing of the token on new exchanges can be a way for scalpers to make some money by if you are new then you should not step into a running water stream.
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- According to this link: https://www.coingecko.com/en/coins/sylo, there are many exchanges where he is listed to do trading via buy and sell. I just found out about it. But there seems to be nothing special about this coin.
Maybe it's good in the short term, but in the long term, I don't think it's worth doing. Because its market cap is still very low, its daily volume is also not that big, so the risk is still quite high, in my opinion.
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Maybe you can look for further information about the project they are developing, but currently SYLO is registered on coinmarketcap so you can look for information they are developing and you can predict what the price of this coin will be in the future, currently the price is still cheap if you have enough money. If you don't use it, you can use a little money to save these coins for the next few years and remember to keep doing your own research.
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- According to this link: https://www.coingecko.com/en/coins/sylo, there are many exchanges where he is listed to do trading via buy and sell. I just found out about it. But there seems to be nothing special about this coin.
Maybe it's good in the short term, but in the long term, I don't think it's worth doing. Because its market cap is still very low, its daily volume is also not that big, so the risk is still quite high, in my opinion.
What I see about this coin is that it will be good for gamblers. If you know you can gamble with it, it may be good. I go through Coingecko and Coinmarketcap and it has a market capitalization of just $8.68 million. That marketcap is very small. The market price of the coin will be too volatile and the coin itself will be controlled by some whales that have larger amount of the coin.
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so I guess joniboini words are 100% right so you should consider them. Listing of the token on new exchanges can be a way for scalpers to make some money by if you are new then you should not step into a running water stream.
Just remember that this project has been around for at least two years iirc, and their progress is not well-known. Either they don't do any marketing or the average joe doesn't find them interesting. I'd definitely not buy them for any mid or long-term holding purpose, the risk is way too high and if they failed to get any traction I'm afraid the project will die sooner or later. I remember making the same mistake on CHX (do correct me if I'm wrong about this, I forgot the ticker name). The team failed to deliver so they rebranded even though marketing was non-existent and no investor wanted to shoulder their debt.
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We have different perspective for every project, but I can say that the project is not yet clear to be one of the best project in the future. I see no special in this project because there are many good projects out there better than this. Maybe soon, if there's an update that caught the eyes of the investors it will explode. But for now, it's risky to invest most of your funds in it.
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Just remember that this project has been around for at least two years iirc, and their progress is not well-known. Either they don't do any marketing or the average joe doesn't find them interesting. I'd definitely not buy them for any mid or long-term holding purpose, the risk is way too high and if they failed to get any traction I'm afraid the project will die sooner or later. I remember making the same mistake on CHX (do correct me if I'm wrong about this, I forgot the ticker name). The team failed to deliver so they rebranded even though marketing was non-existent and no investor wanted to shoulder their debt.
I can see you have a great experience and control over yourself, and that is so obvious because when a person spends a lot of time in crypto he/she develops a mentality that supports them most. Like a newbie (not talking about OP) would see this token as some hidden gem, but in reality, I am also not so attracted by the token's stats, technically and fundamentally both. Besides if the token is so complex that it's not easy for newbies and even for mid joe that they can't understand it, then most of the time IMO it doesn't long last.
I know there are many other similar projects like Matic, others that provide a good level of technicalities that a normal Joe can't get it, well, just to clear things out. "Sylo is reimagining the way data and assets work together. Built on The Root Network, the hub for interoperability in the open metaverse, Sylo is an infrastructure layer for data, powering interoperability for assets and users." This statement from the Sylo website tells us all about it so I don't think there is any need for any person to go further.
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I did not know about SYLO before, but looking at the price chart, I see that it has achieved good growth in the past few days. This is good, but it needs to be monitored more.
As members pointed out, listing a token on well-known exchanges does not necessarily mean that the project is good or successful. There are many tokens that were listed on exchanges larger than these, but they quickly faded and failed.
Therefore, the advice is always to conduct significant research before investing in any new project and not to rush or risk large capital.
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I did not know about SYLO before, but looking at the price chart, I see that it has achieved good growth in the past few days. This is good, but it needs to be monitored more.
As members pointed out, listing a token on well-known exchanges does not necessarily mean that the project is good or successful. There are many tokens that were listed on exchanges larger than these, but they quickly faded and failed.
Therefore, the advice is always to conduct significant research before investing in any new project and not to rush or risk large capital.
Yes, you are right, there are lots of tokens that do register on very large exchanges with very high listing fees but in the end the project collapses and the price tends to always go down because many investors might get out of the ongoing losses. At least it remains consistent from small ones and I hope there are good hopes at SYLO.
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Such currencies disappear for a while, then their price is suddenly pumped and many people start talking about them. The price returns to its old levels, and so the game is repeated until it is delisted from some CEXs and remains in some DEXs, so there is nothing special about this project.
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Such currencies disappear for a while, then their price is suddenly pumped and many people start talking about them. The price returns to its old levels, and so the game is repeated until it is delisted from some CEXs and remains in some DEXs, so there is nothing special about this project.
Yes, that's the price movement of digital currencies, including Bitcoin price movements, which have up and down movements like a roller coaster. I think it's the same as other altcoin projects, which at the beginning sometimes don't necessarily have good movements, but after going through a long development process, the price finally rises. Hopefully Sylo has price movements like that.