In this video, I talk about why I sold all of my ADAX position!

If you remember this was a coin I made a video about when I bought it around 82 cents…

I have decided to not hold any longer and to dump it while in a profit because I looked at the data. The current data around Cardano does not look exciting.

Watch the video to see what I bought instead.

Are you bullish or bearish on ADAX?

 

In this video I’m going to share with you exactly why I got rid of 100 of my eight acts position and where I move that capital into so if you don’t recall I shot a video about ADAX and it being decks that could possibly explode because it had such a small market cap and the whole Cardano ecosystem was just being built because smart contracts were just about to launch and if you don’t know what Edax is it’s essentially a Dex okay.

That just allows tokens to be swapped on that are built on top of the Cardano blockchain so why would you use a desk decks some people don’t like to use centralized exchanges and also Dexes allow projects to be launched much more efficiently sometimes it can take a long time to get onto these centralized exchanges like FTX and Binance and coin base because they go through extensive reviews it’s much much easier to swap on Dexes so that’s why Dexas are becoming very very popular because they’re more efficient and it does reduce a fair amount of counterparty risk now.

I’m not going to come on here and say the reason why I got rid of 8x is because it’s a fraudulent scam and that’s not true right I’ve seen a lot of videos about that at least all the knowledge that I have is it is absolutely a true project if you go into their like telegram chat you definitely see in their community there’s a lot of moon boys per se and people just like literally just saying when moon and when Lambo because all they care about is the coin going to you know 10 or 100 x and so they can buy a Lambo.

So the community is kind of bad the team is actually real okay a lot of people have been asking okay why are they from Lithuania why are they from here blah blah these people are are real people for the most part at least I’ve looked into the top three people in their company and they seem very very legitimate they do interviews on YouTube and it’s a real project guys I don’t know why people are saying that on YouTube the problem with the project is multiple things actually the project.

It’s not even with the project it’s with the concept so the concept of the entire thing is first of all there’s we’ve been waiting for smart contracts to launch on Cardano for literally like six years all right so all these anticipation of smart contracts launching has given so much time for a lot of Dexes to kind of plan behind the scenes and also we’ve seen another project called Sunday swap which I still believe you can’t even buy their token is actually leading the way with partnerships directly with Cardano and it looks like competition for ADAX is picking up and there’s more than I believe there’s more than 15 Dexes that are now launching on Cardano because again it’s literally been over five years that we’ve been anticipating smart contracts launching on Cardano and the problem is is this entire project ADAX relies on the success of Cardano and the problem with Cardano is it has actually had a very very low adoption rate okay.

So this is something called a blockchain you can go to blockchair.com that’s why I love smart contract platforms because you can see exactly fundamentally what is going on with the project in the blockchain so if you look at Cardano’s blockchain in particular there’s only been 15 million transactions since inception and only 6 million blocks and actually the amount of transactions in the last 24 hours there’s only 70,000 transactions and then we could do a further dive and put this into a graph form and we actually see in this line chart the amount of transactions have dropped off dramatically over the past few weeks and this is why like if you hear anyone say anything on YouTube including myself right.

Everything is subject to change that’s what the most successful investors and business owners understand is when you get new data you’re open to new outputs right and new results right and new allocations and new you know business plans and whatever the heck you’re doing but specifically with investing and especially cryptocurrency things change so so quickly and I’ve been completely underwhelmed with the amount of adoption on cardano and part of the reason is because the chain is actually pretty slow I mean they started to build it five six years ago and now it’s finally come around it only does 250 transactions per second and meanwhile all these other changes or chains are doing ten thousand thirty thousand fifty thousand transactions per second.

I mean example is harmony if we wanna compare if you’re in any of our groups which you can find some information in the description below this video but you know that we’ve been buying harmony very very heavily and it’s gone from 12 cents to 22 cents over the past about month but the reason is because there’s so much activity okay.

175 million transactions on the blockchain and then if we look at the transactions I mean just a two days ago it had 2.2 million transactions in a day three days ago it had 2.1 million transactions in a day and the tps which is transactions per second is actually much quicker and we can actually see a ton of tokens being launched on this chain and I’ll give you another example like with phantom okay if we go look at phantom and we look at transactions here you’ll see a lot of transactions happening every five seconds 10 seconds and you’ll see this continually update and you also will see the amount of total transactions 95 million it has a huge amount of total value locked as well and these chains are actually very very active relative to Cardano so the reason why I actually got rid of ADAX is not actually because of ADAX part of it is because the other competition but also because of the lack of adoption on Cardano and unfortunately the lack of success in the short term.

Could it turn around absolutely could Cardano do well absolutely but right now it is not looking very great especially when you consider the opportunity cost of investing into other things so what did I do with my 8x position part of it I actually bought even more harmony I already had a decent amount of phantom but honestly the majority of it I found a new chain which I actually like really it’s actually not new but for me I discovered it pretty recently and it’s it’s called telos and the coin is tlos it’s ranked 261 out of nearly over 12,000 coins right now and the market cap is only 249 million dollars now if you know anything about smart contract platforms they have so much utility on their tokens .

So they can have a huge amount of appreciation and they also build these massive ecosystems that allow them to be adopted very very quickly which allows the token price to appreciate very very quickly because it creates this ecosystem and network effect and every transaction is utilizing the chain that the coin is then used for each transaction so there’s a huge amount of utility in these smart contract platforms and that’s why I put nearly all of my all coin positions into smart contracts and I have quickly moved out of ADAX and moved into telos now that’s not to say that ADAX is not going to do well okay but just based on me fundamentally analyzing these things and looking at the potential.

I see telos having a huge potential and you can see recently that the price appreciation has been pretty great but it still has a lot of room to grow because it is only you don’t want to look at the price right people look at oh it’s 92 cents that doesn’t matter what matters is the market cap and what the potential of it is if we go look at okay that was only 249 million dollars if it just makes it to where like Luna is at 14 billion okay that’s a ridiculous amount of growth or if we look you know closer to like getting into the top ten all right that would already be a 100x because if it went from 250 million to 2.5 billion that would put it at a 10x which would bring it all the way down to right around 50 which is actually where harmony’s at it would actually put it in front of harmony if it 10x.

So we’d literally be exactly right around where harmony and if it 100x it’d be all the way up in the top 10. and these smart contract platforms and you’ll see because we’re about to compare it have huge potential so if we look at telos first of all their site’s very very clean you can learn a lot about the chain here so you shouldn’t even just listen to this video you should go to their site and actually learn about the project but again it’s a smart contract platform it actually has a large amount of Dapps but on top of it we’re about to take a look at their chain real quick here but over 100 daps you can see ADA has been pretty stagnant like I said like I said ADA is about 250 transactions per second Maddox 7200 eth is actually more like 12 transactions per second and telos is 10,000 transactions per second which is the same as phantom but this is even previous this is prior to sharding.

So when they implement sharding if you know anything about sharding it allows the chain to scale much much quicker and I can see those numbers going up dramatically even close to Solana in a short amount of time which is at 50 000 transactions per second there is actually a lot of utility within the token which will go down here and actually look at one of the things I really like about the project is people that actually love crypto will like this project.

I’ll show you the over 900,000 accounts that are using the chain already but there’s a lot of token utility as far as staking and then paying fees specifically on contract storage and then there’s obviously governance involved in the token similar to like a lot of these other you know d5 plays indexes where you can actually vote on any upgrades or changes on the chain because it’s truly a community-based coin which is really how crypto was meant to be in the first place and a lot unfortunately of the projects now are very very centralized because they have had so much VC and private funds flow into the projects prior to anyone publicly being being able to access that and that is not the case with telos.

It has an extremely fast chain like I mentioned the block times are 0.5 seconds which is much much faster than pretty much any active chain right now and it is 24x faster than Ethereum a few other things that I will show you it’s it first of all it’s been around since 2018 which is huge it has a low impact on energy which is what a lot of people are starting to care about as far as everything being energy efficient and it’s roughly 17,000 times more energy efficient than Ethereum which is again people are actually really putting some some thought and some value into things being energy efficient and I know that PR it’s because primarily because Ethereum is proof of work and it’s proof of stake but let’s take a look at its actual blockchain and see what’s going on first of all it’s now over 968,000 accounts active and I believe it’s it’s over 293 in the past 24 hours.

The chain is actually very active there’s quite a few transactions and you can see them coming in in real time with them minting new coins and actually they’re making a push for the NFT space which is very very important for smart contracts because primarily crypto is driven by retail and retail loves NFT’s they also have real partnerships with major companies like Microsoft and cisco that are actually being already used for real world activities which a lot of you know crypto projects are pretty much hype but it seems like this is a gem that is coming out of it’s really a diamond in the rough that people are not entirely aware about yet and again I’ve moved about actually 80 percent of my my ADAX position which if you guys know we shot that video right around when it was when it was literally 80 cents and now 8x is a dollar and five cents but you can see literally right after we shot the video it came all the way up to two dollars and 23 cents and we were buying it right at I think 80 right 82 or 86 was our average buy.

So anyways that’s where I put some money let me know what you think about ADAX below if you’re still holding on to it I’m very very curious to hear your thoughts on the project and also would love to hear your thoughts on my point of view on this right would you rather invest in a DEX that has a lot of competition on the chain that’s not really being adopted or would you rather move into you know a smart contract platform that actually has adoption that’s undervalued let me know in the comments below and just for full disclosure.

I have been selling some of my ADA as well to be honest to moving into chains that are a lot more active I’m not against ADA I’m not against Cardan I actually love Charles I met him a few months ago and i believe in the project but the thing is like when I look around I just think there’s a significant opportunity cost to holding a large amount of capital in there and I’ve been riding it ADA since 20 cents so it’s like you know it probably makes sense for me to lock in some gains and move some capital into some other projects that aren’t you know valued at 78 billion or whatever yeah 70-71 billion right.

I much rather go buy harmony it has more transactions more adoption more NFT’s launching on it that only has a 2.3 billion market cap because it just has more room to run all right let me know what you think about this video in the comment section below thanks so much for watching and this is Jeff signing off.

Published On: October 18, 2021 / Categories: How Tos / Tags: , , , , /