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Crypto Catalyst Countdown: 3 Tokens to Profit From Now
Telling cryptocurrency investors to sell their positions usually doesn’t go over well. Most token holders, in particular, tend to have considerable confidence in the long-term prospects of the ecosystem in which their token exists. That said, there are always moments that result in interesting spikes in value that might justify the question of how many tokens to sell.
After all, while a crypto project may seem appealing to hold onto until it blossoms into something more, cash tends to perform better in resentment. Furthermore, even if a token or ecosystem is working well at the moment, it is very likely that it will eventually become defunct. That’s because nearly two-thirds of all conceived crypto projects are already dead, and 72% of those started in the 2021 bull run are also dead.
We are currently in a bull run again, which means knowing when to exit is key to taking profits on time. Therefore, here are three tokens to sell due to the spike in value and unsustainably rapid gains.
Gigachad (GIGA-USD)
Source: shutterstock.com/Pla2na
Starting with a meme token currently being pumped, Gigachad (GIGA-USD) has seen a generous spike in trading activity over the past few days. Based on the meme of a man named Ernest Khalimovwhich may or may not be a real person, the meme token has garnered considerable attention since it was listed on CoinGecko in January.
The GIGA project itself is community-run and focuses on the usual strategy of holding for the right time to sell. However, if you recently purchased GIGA, keep an eye on its growth, as it is already on the rise 23,000% over the past six months or so. Additionally, the coin is currently trading at 50% of its all-time high, which means there might be a chance to retest its upper limit in the future.
Therefore, if you currently hold GIGA, now or in the near future may be a good time to sell for profits and invest in a project with greater long-term stability.
Chain Exchange (CSWAP-USD)
Built on the concept of being able to easily switch from blockchain to blockchain for transaction flexibility, Chain exchange (CSWAP-USD) has seen its value increase 604% in the last four months. Therefore, the project aims to capture the versatility of being able to quickly trade between decentralized cryptocurrency exchanges. It’s hard to say whether or not this technological approach has much long-term potential, but now could certainly be a good time to exit.
The reason why I recommend it is mainly due to the novelty of the project. Many retail investors may currently be flocking to the token due to the marketing hype only to find themselves subject to a fire sale. This is because currently there are just some lying around 1,800 wallets using Chainswap, which means it does not have widely distributed value in its community.
Therefore, if its main holder decides to sell, there could be major losses for those smaller investors hoping for the project.
QuantCheck (QTK-USD)
Source: Adam Vilimek / Shutterstock.com
Growing by 238% in just two months, QuantCheck (QTK-USD) recorded a trading value of $400,488 in the last 24 hours. This represents a 70.10% increase since June 24 and signals a rapid increase in market interest. The token also reached an all-time high of $0.8154 on June 2 and is currently trading 28.93% lower.
The token itself exists as part of a development environment intended for back-testing cryptocurrencies and their profitability models. As such, QTK relies on algorithmic success and investor interest in the project to see its value grow. Its developers have released a projected roadmap through January 2025 highlighting several future developments.
As a result, this could be one of the tokens to sell in a year or so, once its pipeline is more developed and the value has increased accordingly. That said, given his young age, going out with a 200% gain isn’t a bad idea.
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To know more: How to avoid the most common cryptocurrency scams
As of the date of publication, Viktor Zarev did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com Guidelines for publication.
Viktor Zarev is a scientist, researcher and writer who specializes in explaining the complex world of technology stocks through a dedication to accuracy and understanding.