As the cryptocurrency market continues to decline, investors are wondering whether to invest in altcoin projects right now. Cheeky Crypto, a cryptocurrency channel followed by a large audience on Youtube, does not currently make a statement about whether to buy. Instead, he talks about projects he thinks investors should dispose of. While Cheeky Crypto claims that STEPN (GMT), a new and popular cryptocurrency project, is a ponzi scheme; He suggests that old altcoins such as Litecoin, TRON should also be sold Here are the details…
There are “altcoin projects that need to be disposed of” on the investor’s list
We can start our article with a new altcoin in Cheeky Crypto’s list. Cheeky Crypto says it primarily likens Stepn (GMT) to a ponzi scheme. Therefore, this predicts a failure in the project. STEPN aims to revolutionize the fitness apps market by encouraging millions of users to follow a healthier lifestyle. The app solves several problems, such as a “proof-of-movement” and a functioning GPS system that proves users are actually exercising. In addition, STEPN financially encourages users and plans to introduce social rewards elements. It successfully contributes to carbon neutrality.
Another coin on the analyst’s list was EOS (EOS). According to the analyst, the arguments of this project do not give much confidence to the investor and are in danger of extinction. EOS is a platform designed to allow developers to build decentralized applications. The aim of the project is relatively simple. It aims to make it as simple as possible for programmers to adopt Blockchain technology. As a result, tools and a variety of educational resources are provided to support developers who want to quickly build functional applications.
TRON is also on the list
On the other hand, the expert has added TRON to his list. As it is known, TRON’s stablecoin USDD faced the risk of leaving its stablecoin. The analyst drew attention to this situation and compared the ecosystem of TRON and Terra (LUNA) and their algorithmic stablecoins UST to each other. TRON (TRX) is a decentralized Blockchain-based operating system developed by the Tron Foundation and released in 2017. Initially, TRX tokens were ERC-20 based tokens distributed on Ethereum. But a year later they moved to their own network.
The last two altcoins on Cheeky Crypto’s list are quite old coins. The analyst primarily mentions Bitcoin Cash (BCH), saying that this coin does not make any contribution to the ecosystem. On the other hand, he thinks Litecoin (LTC) will also fail and disappear from the ecosystem. Time will tell what will happen…
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