In this video, I am going to go over my second largest altcoin holding (behind Solana now) and explain why and where I believe the price is heading.
Harmony (ONE) is a fast and scalable blockchain network that offers cross-chain bridges for asset transfer with Ethereum, Binance, and many others.
A great tool that I am using is called Messari, which is a great tool that helps with research, data, watchlist and charts for all major crypto assets.
If you’d like some guidance during the bull market and would like to learn what other altcoins I am holding and believe in, be sure to join our Crypto Inner Circle group, click the link below to sign up!
In this video I’m going to go over my largest altcoin holding and explain exactly why I’ve made it my largest holding and where I believe price is likely heading and the good news is I think we still have a lot of room to grow and I will explain exactly why right now so let’s go ahead and jump right in what project am I even speaking about.
I am speaking about one that is all the way down here on in the top about 55 number 54 harmony if you guys have watched some of my other previous videos you know that we’ve been buying this quite a lot especially right around 12 cents and obviously it’s done decently well the great news is it’s only a three billion dollar market cap so it still has a lot of room to run remember you don’t want to price things based on their price what actually matters because they’re gonna be a huge supply of the coin right.
You need to understand how much capital is in the project and how much potentially could go into the project so what we like to look at what we see a lot of value in the smart contracts because they have their own blockchain and they create ecosystems of these other applications building on top of them which then uses the native coin for fees for each transaction right so I’m going to show you some really great research tools here in a minute and it’s going to get more and more valuable as we continue through this video so make sure to watch all the way to the end.
So we’re at number 54 okay market caps 3.2 billion and we just head back up to the top even if we get the cosmos that’s at 8 billion poly is at 13 billion and I really believe harmony has the opportunity to get inside at least the top 15 which would put it quite you know at least a 5x from where it’s at so I’ll talk about some sell limit orders just on a technical standpoint.
We do have a bullish indicator on market cipher that’s just showing that we have reached a likely a local bottom and now may not be a bad time to put a long in so we actually just put a long trade in on one literally yesterday in one of our inner circle groups if you want to be a part of community and have a little bit more guidance during the bull market.
There’s some there’s a link in the description below and I want to show you exactly how I do this research so that you can duplicate this and I’m also going to show exactly why I think this project is so so valuable so one of the tools I really love is Masari so if you go to masari.io and you go to screener just hover over the top of this screener button up here and then I like to go to smart contracts again.
I think this projects have the most amount of value and utility in the coin and I will usually go down this list you can even sort by market cap to try to get like a lower capitalized coin but we’ll just go right down to harmony it’s ranked number 23 in the smart contract platforms and you can do a lot of great research right on here for free by the way on missouri.io.
I’m not going to go in depth this could be a whole nother tutorial but it’s really great that you can get some basic information about the over overview and the history and the people who have built it we’re actually going to jump right to their site and you can see a lot of valuable info if you go to coin market cap and you actually click on the project you can go straight to the info on the project right through coin market cap so you’ll see they have the website right here.
They have the explorers which we’re gonna do a little deep dive into and then you can actually go to their source code which we’re gonna speak about here in a second too but harmony’s website right it’s very clean modern looking website what I love that they’re doing is they’re really making pushes towards NFTs and building bridges with the largest smart contracts and other blockchains so that they’re interoperable and they’re doing I think they’re they’re leading the way with interoperability and actually being able to bridge across different chains because that just creates more transactions through their chain and expands them to other users which is obviously a bullish sign.
So if you just look at it as like a layer two it has some of the quickest transaction speed it’s a two second finality okay and it also is point zero zero one cents per transaction if you actually look at it on a on a protocol level two second transaction speed and then the transaction fees are extremely extremely low I believe it’s point zero zero one cent per transaction on layer two on Ethereum.
So it’s extremely low cost extremely quick it’s a faster chain they talk about being able the ability to do over a hundred thousand transactions and I’ll show you exactly why but the thing that I care about even more I love tech I love being able to look at on you know metrics on their chain as far as transactions and we’re gonna do a deep dive on that but I actually loved investing in people more than anything because although we are starting to get into a decentralized world and we’re investing in protocols not businesses ultimately there’s a lot of upgrades that need to be made to these protocols.
That’s why it’s so important to invest in the people that are behind the project I think it’s number one by far and I’ve done some a decent amount of research on these people and they’re very very accredited so Steven is the actual founder he has a great experience from apple and also google this is a co-founder and cto he’s also got software engineering experience of over four years at google and then all the other founders or co-founders are also very accredited they’ve graduated from at least Stanford and Harvard and so pretty much everyone on the project is very very accredited.
It really surprised me some of these projects that get into have a decent amount of capital in them they actually do not have people that are very accredited like I just look for okay education is is great okay it usually can mean they have a good network which can help but ultimately the previous experience either as a founder or at least they have blockchain or fintech experience or they’ve worked with a you know a major blue chip tech company those are things that I like to look for to make sure that these people are the real deal and then you can do further research into okay.
Is there actually a lot of money and people interested in the project are they raising capital to expand the ecosystem we were actually buying harmony quite a lot early in the bull market so made some great money then once we had a sell-off we started to get out of what the one token a little bit and then once they launched their 300 million dollar incentive fund that grabbed my attention once again and we started to accumulate very very heavily this was back in September.
It went up I had a 100 rally came back to 12 cents and then we started to buy very very heavily these these types of things these types of fundamental news are generally very very bullish for the native coin because again it creates more the 300 million dollars is going to expand the ecosystem which then again increases transactions which we’ll take a look at here in a second so this is their block explorer these are things that I love to look at is looking at their on-chain data so that we can see hey is this is this project actually getting traction or is this just something that’s all hype right.
So I love to look at behind the scenes fundamentally what is going on with the project and I’ll show you I’ll show you comparison here in a second but they are consistently doing over two million transactions a day so we look at yesterday they did 2.6 million the day before they did 2.4 million the day before 2.7 million 2.6 million 2.8 million 2.5 million so consistently and I’ve seen these numbers consistently go up and up they hit a million over a million transactions like a month and a half ago I think and it’s been steadily been climbing since then because they’ve made so many cross-chain bridges with cosmos and all of the major projects which has allowed and brought them a lot of attention.
You can see look how recent these transactions are nine cent they’re nine seconds seven seconds 12 seconds 15 seconds they’ve got some serious transaction and you can actually go look at and like I mentioned their NFT’s their NFT’s have been growing very very quickly you can so we’re looking at just a hundred different transactions and NFT projects that are being minted on their chain and you can see that there’s over 35 pages or 100 on each page so you can you can just screenshot this and come back and look at the data based on okay how many new coins are actually being minted.
So this is what I like to do I like the screenshot this data I also like the screenshot we’ll go back I like to screenshot their total transaction volume and then come back and compare you know like three five ten days later and then do projections on how quickly it’s growing to see is is the volume increasing is it decreasing obviously.
We wanna that you know what makes a prudent investor is people that look at data and look at numbers I can say okay objectively this project is undervalued based on the amount that it’s growing and you want to put capital in places where things are undervalued and you likely see that asset growing in value before all of the masses do right so you want to be able to look at this data and make decisions before the rest of everyone else catches on okay and if we look at it relative so remember this 222 million transactions okay.
And they’re doing like the other day they did 2.6 million transactions in 24 hours we compare that to something like Cardano okay Cardano is worth like what 65 billion I believe so it has way more capital in the project and in the last 24 hours they’ve only done 82 000 transactions and they only have a total of 17 million transactions.
I understand that they just launched smart contracts a few months ago but to be honest the adoption on Cardano has been really weak and since I saw this data and then looked at another chain like harmony I actually sold all of my Cardano and bought harmony and obviously that has paid off very very well these are the types of things that we review in our groups to make intelligent decisions into investments the problem with you know crypto is people don’t have this data.
They don’t understand what to look for and it creates if you don’t have conviction and you don’t understand why you’re investing in what you’re investing in you’re going to make emotional decisions when there’s a lot of volatility because you don’t have that conviction to hold because you don’t even understand why you’re buying it to begin with you have got to understand why and another thing that’s brought the why behind it harmony which has been incredibly important is transparency that’s something I really really value is transparency.
You can literally go they make almost everything completely open as far as let’s actually look at their GitHub so this is something that you can actually see on the back end are they actually making upgrades to the project and you can go right to their GitHub like I mentioned from coin market cap and go click on their source code it’ll take you to their GitHub and you can see repositories and see oh this is updated four hours ago nine hours ago ten hours ago there’s a ton of activity on harmony because they’re making consistent upgrades because they’re building all these bridges to all these other ecosystems.
You can then exactly look at their their roadmap this is right on their their back end they obviously make it public for people investors like us to look into and be able to say okay well what does a road map actually look like and who’s actually working on all these things you can see that on GitHub as well and you can understand where the project is going and the thing I even love even more for the people that are too lazy to read is to go to harmony’s YouTube channel.
They literally have their all hands meetings on and put it on YouTube you can actually watch their meetings as they’re having them and you can see exactly what they’re working on and you understand exactly where the project is going and then they have which I’ve I don’t I don’t I don’t think I’ve ever seen this in a crypto project anyone be this transparent with their crypto project to say literally we’re going to put our all hands meeting on YouTube so you guys can understand exactly what we’re working on and why we’re working on it and you can also go to their channel and see all their recent videos.
You can learn about their 300 million dollar ecosystem fund and how they’re actually expanding the ecosystem you can learn about the bridge so you know how they’re bridging to all these different blockchains you can learn more about their roadmap it’s just quicker videos and they’ve got an extended amount of videos just from the founder and then quite a few interviews as well down here so it’s a completely transparent project you know exactly what’s going on it’s a rapidly growing chain.
It still has a low market cap from a technical standpoint it does look pretty bullish yes we had a nice pullback because we literally just went up 300 percent in a month and a half and base you know I’ll give you an idea my first target for harmony to actually sell is all the way if you’re into any of our groups you know exactly what we do we buy the assets then we project based on where we think the total market cap of crypto can go then we’ll say okay how much could this project actually increase its market cap and then we make projections on each project and I sell 30 of my lowest limit order.
So I set these these sell limit orders and I don’t have to worry about it because I set these limit orders I literally forget about them I just let the market do its thing and then I’ll be out of the market and I’m not making emotional decisions on making objective decisions based on where the market cap can go and also we put a little bit of a value on Fibonacci’s but I’ll give you my first sell limit order which is all the way up at just right at 98 cents so my first sell lemon order is still a 227 percent increase which I’m gonna sell 30 of my harmony.
My next sell limit order is 50 of my harmony and then my last sell limit order at the very where I think price could could likely go but I have more conviction especially on the these first two targets my last one is at 20 okay so anyways I hope you got value from this video let me know what you think about harmony in the comment section below.
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