- Casper, Mina, and Covalent: New ICO coins to keep an eye on.
- Covalent objective is to make data analysis easier
- Casper is aiming is to boost the adoption of blockchain and smart contracts
An Initial Coin Offering (ICO) is the cryptocurrency term equal to an Initial Public Offering (IPO). Cryptocurrencies investors can buy into the initial coin offering prices and receive in exchange a token issue by the company. This article covers the 3 cryptocurrencies listed on Coin List to briefly understand what values are cringing into the crypto market.
Why are Casper, Mina, and Covalent listed as 3 top ICO projects?
The crypto market is growing around the world, and it is common to see new cryptocurrencies launching. The crypto market is exploring new opportunities. The Crypto market is a new world for enthusiasts since the first cryptocurrency launched in 2009 Bitcoin (BTC).
Let’s start with Casper (CSPR), which launched in March 2021. Casper defined itself as the first live proof-of-stake (PoS) blockchain. Mrinal Monohar developed the Casper (CSPR) platform. Its objective is to boost the adoption of blockchain, smart contracts on a world scale.
The second ICO project listed on Coinlist is Mina Protocol (MINA). Previously, the project started as Coda Protocol. However, due to some disputes, the project rebranded in October 2020. Mina Protocol’s (MINA) objective is to achieve an efficient and sustainable payment system that allows users to verify the platform right from the genesis block. In the company’s whitepaper, it says “succinct blockchain”,
MINA is a combination of Bitcoin (BTC) by using a parallel state to ensure maximum processing speed and a combination of taking the account model used by Ethereum (ETH). MINA’s price is $4,10 Dollars at 10 pm GMT time. The market capitalization is $613.900.365 dollars. The number of cryptocurrencies supplied is around 149.500.125. MINA’s maximum supply of currencies is not public yet.
Last but not least is Covalent which launched in March 2018. Its founder is Ganesh Swami. Covalent (CQT) provides a service by using big data technology. Covalent (CQT) describes itself as one and the only coin in the crypto market that exposes all data points in the chain by using a unified Application Programming Interface (API) that allows access to thousands of blockchain data points. In other words, Covalent (CQT) is a tool that stores all crypto data accumulated. This helps investors to easily visualize the data in order to make their analysis.
Covalent (CQT) supports many blockchains such as Ethereum (ETH), Binance Smart Chain (BSC), Polkadok (DOT), Casper (CSPR), Skale (SKL), etc.
How to start investing in ICOs projects?
One of the ways to invest in these projects is to buy the coins directly from their websites (usually exchanging it for reputable coins like Bitcoin (BTC), Ethereum (ETH), or fiat money. However, one would need to be proactive to know all the new ICO coins listings. Users should visit each website and complete due diligence. Alternatively, places like Coinlist offer their services to new projects to be a central source where they come onboard to obtain capital through crowdfunding (sale of native coins before it lists on any exchange).
As good as it sounds, Coinlist has been dogged by several controversies. A glimpse at their ratings on the app Play Store will give you an idea of how bad it can get. The company has barely managed a 2.5 rating. It’s the same story when I checked in review sites such as Trustpilot, where 90% had given extremely poor reviews.
Coinlist has been around for more or less 4 years now, launching big names such as Algorand, Filecoin, Nervos, Near, Solana. However, there seems to be a barrage of complaints related to the site being down at critical times, money stuck in progress, people unable to transfer their coins to the designated wallets, dubious fees, unresolved tickets, the list goes on. This not only harms the reputation of Coinlist, but also impacts the funding & popularity of new projects. It would require a miraculous turnaround from this point to regain any level of customer confidence.