The latest situation in some projects that crypto investors showed great interest for a while draws attention.
The fate of exchanges, the status of stablecoins, and market trends are constantly changing. Crypto investors are making an intense effort to follow the changing trends.
Recent lawsuits have erased medium-term investment thinking from the crypto market. Investors are either trying to make short-term gains or are willing to wait for the long-term.
In the second of our Losers Club content series, we covered the declines in popular cryptocurrencies of an era. The previous content covered the relentless declines and hard struggles that stablecoins go through. In the second content of the series, Mina, Chiliz, Pepe and Sui will be our guests.
Farewell to the ‘Medium-Term Investment’ Strategy from the Crypto Market!
The crypto market was followed with different strategies in the past. Investors who believed that crypto projects in the market would do successful things for the future showed a long-term approach, while investors with a cyclical view were in a medium-term approach. Investors who wanted to make money quickly, on the other hand, were looking at the events in the short term due to the news flow and market orientation.
Looking at the crypto’s scorecard in 2023, it can be seen that the medium-term investment strategy has begun to be erased as a result of the environment created by the market conditions. Investors follow either a long-term or short-term buying strategy, as they cannot predict what they may encounter cyclically.
Many factors such as the bankruptcy of FTX, the bankruptcy of crypto institutions one by one, US inflation, US interest rates, the speeches of Fed Chairman Jerome Powell and SEC Chairman Gary Gensler began to shape the market. Investors are struggling in the market according to news feeds.
Medium-Term Impact: The Losers Club Expands
The disappearance of the medium-term strategy has led to the disappearance of expectations in many altcoins. Some altcoins, which aim to create a large ecosystem and quickly build a community, cannot stand out much these days due to the loss of the medium-term strategy. Mina and Chiliz, in particular, haven’t made much progress in social metrics since the beginning of 2023.
So what happened to the new members who joined the Losers Club?
She Couldn’t Debut: Mina (MINA)
Mina (MINA) is the new member of the Losers Club. Emphasizing Zero Knowledge technology and launching as the world’s lightest blockchain, Mina could not debut due to the influence of market conditions. Mina continues to experience price instability, especially due to the supply it puts into circulation and the insufficient demand for this supply.
MINA, which showed activity at an average price of $ 0.43 on January 1, 2023, is around $ 0.40 these days. The popular project, which has not been able to debut since the beginning of the year, could not gain stability in terms of price either. MINA hit $1.20 as the highest level this year.
In late 2022, there was a market period in which stablecoin FUDs were intense and many stablecoins were in trouble. Although the new year is thought of as the arrival of the bull market, it does not progress as expected. Especially from Mina’s point of view, it cannot see the demand it expects in the inflationary supply structure.
According to data from CoinGecko, MINA’s circulating supply was 918,085,643. Since the beginning of the year, MINA has put a supply of close to 300 million in circulation. When the project updates did not catch up, the interest in MINA disappeared and new investors began to come. Therefore, MINA price could not exit due to increasing supply, selling pressure and decreasing interest.
Introduced as a new major coin and shown as competitive, MINA has been going through tough days since its launch. According to CoinGecko data, MINA’s highest point was $9.09 while its lowest point was $0.38.
When we consider the events in MINA, the disappearance of the medium-term strategy and the lack of long-term investor interest in the project come to the fore. Investors who want to make short-term gains do not prefer MINA in these market conditions.
Below Expectations: Chiliz (CHZ)
Aiming to create a new crypto category and focusing on sports organizations, Chiliz takes the lead in the Fan Token rush. Fan Token issuer Socios had revealed and launched Chiliz on the Ethereum network. Chiliz’s influence on the market has reached millions. A new discourse has started in the crypto community; “Fan Tokens and a new category of crypto“
Chiliz had such a great impact for a period that it managed to attract investors from all over the world. Taking the bull market behind him, Chiliz made a name for himself by promoting his project and establishing partnerships with major sports organizations. According to most crypto investors, Chiliz would be among the top 5 crypto projects.
The highest point of CHZ was $0.878633 while the lowest point was $0.00410. Even if the lowest point of CHZ came when it did not break out, looking at the current situation, the price shows activity at the level of $ 0.066.
However, things did not turn out as expected. The biggest factors were the sale of Fan Tokens by football teams, the disruption of organizations after the Covid-19 period, the inability of Chiliz to adequately promote their project development, and finally the bear market. Chiliz almost bled on social metrics and is slowly starting to struggle to attract new buyers.
Chiliz, which was not included in the medium-term investment strategy, was not preferred in the long-term investment strategy due to its exhaustion. Crypto traders have often made short-term trades on CHZ.
Looking from the beginning of 2023, CHZ continues its downward movement in price day by day. CHZ was at $0.100 on January 1, 2023, but looking back today, the price has settled around 0.066.
Chiliz has recently started making project-wide attacks. Chiliz, which launched the mainnet and created more diversity in sports organizations, still did not experience a price breakout. CHZ price keeps falling day by day. CHZ bled down to $357 million at a market value of close to $1 billion.
The End of Another Fury: Pepe (PEPE)
While the crypto money market has been in a bear trend for a long time, there has been a fury that will mark the year. Memecoins are back on the field under the leadership of Pepe. While Dogecoin was at the forefront in previous memecoin rushes, this time there was a different cryptocurrency. Adopting the frog figure, Pepe managed to reach millions of people in a short time. In fact, Pepe has grown so much that even the owner of the cartoon he chose as a figure was asked.
Pepe began to take large masses behind him with a remarkable rise. This audience worked hard to get the popular memecoin listed on Binance. Binance CEO CZ attended the Q&A event. The Pepe community involved in this event appealed to CZ to list. Shortly after, Pepe was listed on the Binance exchange. So far, everything has given the message that a new Dogecoin is being born, but things did not work out that way. Pepe, which entered Binance, also did not stop the sales. Crypto investors almost took the opportunity to be listed on the stock market and sold their tokens.
Furya was so short that it was hard to even call it a new Dogecoin, a new memecoin. Recently for Pepe, analysts have called for his investors to lock up their money for an extended period of time. The definition of “to lock” means that the investment made is almost imprisoned in that project.
Criticism about the project comes one after another. Many people say that Pepe is actually a hoax and does not offer anything forward-looking. But the community behind Pepe hasn’t dispersed yet. A group of investors believe Pepe will rise again.
Pepe is having a hard time recovering the attention and relevance he’s lost, as SEC lawsuits are now hitting the market hard. Pepe, who has fallen, is about to collapse with the effect of the market.
Pepe has set a high of $0.00000431 with his Binance listing. In addition, Pepe was at $ 0.000000055142 when it first hit the market. In the downtrend, called the bear market, Pepe was so elated that it reached a market cap of $1.5 billion. However, Pepe’s market value has now dropped to $389 million.
The popular memecoin has lost close to 80 percent since its high point. I guess things for Pepe are left to the emergence of a new trend. Because where Dogecoin and Shiba are, Pepe seems to have a hard time coming to the fore as a project.
It Couldn’t Flow Like Water: Sui (SUI)
The last member of the Losers Club and perhaps the most anticipated crypto project, Sui draws attention with its failure in price. Although the market effect was also effective in the SUI decline, the progress of the project seems to have been interrupted.
Sui gained popularity after Arbitrum’s airdrop. Airdrop hunters point their new target at Sui. Thousands of investors joined the project community to win the SUI airdrop. This gave Sui popularity.
Later, Sui announced that its native token SUI would be listed on many exchanges.
While all was going well for the Sui project, the turbulent market and the accompanying wave of FUD had a negative impact on the price of SUI. Emerging behind SUI, FOMO quickly dissipated under the influence of negative news feeds. Sui, which is said to be among giants such as Ethereum and Solana, is now trying to hold on.
According to data from CoinGecko, SUI hit $2.16 at launch. This situation, which made a lot of noise, would leave its place to silence in time. The breaking point for SUI came when the FUD wave for the airdrop campaign with OKX came to the fore. SUI started to decline before the market had crashed yet. The drop in SUI became so sharp and so sharp that the price fell as low as $0.55.
SUI managed to reach a market value of close to $1 billion. But the long-running price drop has reduced the market value of SUI to $343 million. SUI managed to be a project that experienced a rapid rise, as well as a project that experienced rapid loss of interest.
These projects, which were guests of the second series of the Losers Club, left their mark on the market for a while. So much so that when the bull market started, it was said that these crypto projects would take the lead. However, crypto is a technology well beyond plans and rumors.
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