We can use rating indicators such as Weiss Crypto Ratings to decide which projects to invest in in the altcoin market. In this article, we examined the 3 most dangerous cryptocurrencies in the market, taking into account their past performance and recent developments.
Crypto investors, stay away from these 3 altcoin projects
Matrix AI Network (MAN)
Despite the artificial intelligence (AI) trend fueled by the popularity of OpenAI’s text-based platform ChatGPT, the Matrix AI Network (MAN) failed to capitalize on this hype. While AI coins like MAN token, FET, and AGIX have risen more than 3x, it has not been able to bounce back from the 2 peak it reached in May 2018.
At the time of writing, MAN ranks 82nd in terms of market cap, down 10% from the last 24 hours. Despite its accumulated gains of 8.61% over the week and 56.17% in the last 30 days, it currently has a low E- score on Weiss Crypto Ratings due to very poor adoption and momentum.
PotCoin (POT)
PotCoin, which is listed as ‘high risk’ in the indicators of investment guide platform InvestorsObserver, has lost around 20% at one point during the week. At the time of writing, it is trading at $0.003148 in a strong rally with new buyers coming in from the bottom. PotCoin managed to gain over 70% today. The rally was purely speculative, devoid of any essential news feed.
Smartshare (SSP)
With a market cap of $130,000, Smartshare (SSP) proposes Blockchain-based solutions “to assess and measure the intrinsic value of all shareable objects and also facilitate the exchange of shares.” Despite this powerful mission, it ranks 2,000-odd among all cryptocurrencies.
SSP also has a very poor adoption score as there are only 36,779 investors in the network. At the same time, market performance was rated weak, according to data received on March 3. In terms of price, it is in the process of recovery after the recent double-digit declines.
While it is a good idea to avoid the altcoin projects mentioned above, recent experience with the crypto market losing $50 billion in a single hour indicates that the situation can change very quickly. Therefore, observation and research to avoid harm is the first priority. Like today, the collapse of a high-profile crypto brand can drop even Bitcoin 5% in an hour.
Crypto companies sever ties with Silvergate
As we quoted as Kriptokoin.com, the US payment network Silvergate shares fell 50 percent after FTX failed to meet the intense withdrawal demands after its bankruptcy and failed to submit its annual report to the SEC. In addition, leading crypto companies including Coinbase Global, Galaxy Digital, Crypto and Bitstamp have temporarily stopped using Silvergate Capital Corp as their banking partner.
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