Shitcoins are digital assets with little or no value or purpose but just existing in the crypto market. Most of the digital assets in this bracket were created without a thought-out motive or as copycats. For example, the creation of tokens like Bitcoin and Ethereum came with some set-out goals and objectives. This is what makes these top digital assets amass enough values and why shitcoins lose their values over time. Some of these shitcoins are also used to carry out scams activities which are described as pump and dump schemes. Shitcoins are risky in terms of investments as traders stand to lose almost all their investments in these tokens. As of January, about 22,000 digital assets were classed as shitcoins in the market.

Ever since the creation and subsequent breakout of Bitcoin in the financial market, traders have focused their interest on the sector. As a result, many developers have been trying their hands to become the next creator of the biggest thing. The majority of these new tokens either copy the creation of Bitcoin or copy another token. Before the tokens are created, developers usually announce the total amount of tokens that will ever be created. In Bitcoin’s case, its total supply was pegged at 21 million tokens, while Ethereum has a supply of 18 million tokens every year. This limited supply leads to scarcity, which leads to the value of tokens pushing high. In the case of shitcoins, they have no supply cap, no exciting features, which means that they do not attract so many traders in the market asides from newbie traders.

Identifying a shitcoin is easy, but it will take only seasoned traders and a genius set of eyes to pinpoint a project as being such. This is because most of these tokens have the same pattern that they follow. As such, traders can pick them out immediately when floated in the market. Below are the few ways to identify shitcoins in the crypto market;

• Mysterious Developers: The development team behind a new project in the crypto market should exhibit some level of responsibility. For the project to work, they need to be trustworthy and not claim to be something they are not. Traders who intend to know more about the project should be able to access them on platforms like GitHub. Projects with known entities are ten times more likely to succeed than anonymous developers. A project with anonymous developers has a higher chance of becoming a scam at the end of the day.

• Zero Functionality: As long as it concerns the crypto market, any developer can come up with any project and sell it to traders to invest in. Some of these projects even go as far as a promising milestone that they cannot achieve in the nearest future. Most of these projects copy the roadmap of other pre-existing projects across the crypto market. If a developer releases a roadmap without determining functionalities, the project is as good as dead.

• Token Holders: According to experts, a good crypto project must have at least 300 investors when it enters the crypto market. If a coin doesn’t hit this required mark, then such a project is as good as gone. In the same vein, a good project must be able to complete around five to ten transactions every minute.

• Liquidity Pools: Projects in the crypto market should have a liquidity pool of around $30,000. The pool is seen as the vital force behind a crypto project. Should a project have a number lesser than those mentioned above, then traders need to be wary of the possibilities of such tokens being a shitcoin.

In plain terms, shitcoins are terrible investments in the crypto market. Traders undertake huge risks in investing in the tokens with a promise of little or no rewards in sight. Most of these shitcoins undergo pump and dump schemes where only the developers take the biggest rewards during the pump. After the dump, the token is left to fend for itself, leaving traders with a massive loss in their portfolio. However, other smaller tokens tend to bring in massive profits, but the cases are rare across the market. An investor can only get lucky when he sells his assets before a potential massive drop in price.

Pump and Dump Scheme is a false narrative about a token with the sim of boosting sales over a short time. These informations are misleading, with its narrative controlled by the developers or influencers of the project to drive traders. The modus operandi of most pump and dump schemes is that developers have a massive stake and would sell as soon as they gain enough. After this happens, the token price goes back to the ground and causes other innocent investors to lose a massive part of their investments. The developers or influencers use terms like ‘ready to take off’ to sell the false narrative to traders.

While most of the altcoins in the market cannot be classed as shitcoins, some fall in that category. This is because they have lost a considerable amount of value since they first made their debut in the market. To this effect, we will be looking at the top 5 dying projects, focusing our attention on those that have lost more than 80% of their value in the last 30 days. Below are the top 5 shitcoins in the crypto market;

The developers of The Luxury Coin built the digital asset as a utility tool to enhance spending. The Luxury Network created TLB. According to the creators, holders of the token can use it to participate in private events across the network. In terms of performance, The Luxury Coin has fallen short of expectations with a massive 99.79% drop in the market in the last 30 days. Presently, the token trades at $0.103, registering a decline of 0.53% in the last 24 hours. The token boasts of a trading volume of $135,049 in the same duration. However, the exact figures of the current token in supply and market cap were not available during writing.

The Panda Inu token is a new token that made its debut on the famous Binance Smart Chain. Like Shiba Inu, it is a meme-based digital asset. The project plans to allow traders to hold, trade, and manage decentralized assets with its wallet that is currently in the works. Panda Inu hopes to create an interesting DAO community that will rival centralized communities across the crypto sector. PANDA has registered a massive price drop of 99.66% in the last 30 days. Presently, the token is trying to make a comeback as it trades at $0.00000013, seeing a small surge of 0.63% in the last 24 hours. During writing, other on-chain metrics such as market cap, trading volume, and circulating supply were unavailable.

DPK is a platform that allows players in decentralized finance to play games and earn rewards. Players can play the games and earn tokens and can trade them on another platform by DPK. Players intending to participate in gaming activities on the platform can do so with NFTs. Although the platform has a multi token (KIT and DPK), DPK is the main token of the platform. This is because the KIT token has a supply limit. DPK’s performance across the last 30 days has been disastrous posting a decline of 99.60%. Presently, the token is trading at $0.000731, with a rise of 4.59% in the last 24 hours. It has a trading volume of $2,169,956 in the same time frame.

Metakings provides gamers with a unique fighting experience that is powered by AI. Players are open to earning rewards in tokens and NFTs. Also, players who intend to contribute to the ecosystem will earn rewards for their contribution. The token picks up the fourth position in this list with a decline performance of 99.52% over the last 30 days. Presently, the token is trading at $0.00377, posting a decline of 25.22% in the last 24 hours. MTK boasts a trading volume of $678,209 in the last 24 hours. Other on-chain details of the token are not available at press time.

Web 3 development prides itself as the first network to build a private and fair internet with maximum security. The developers created the network to empower users of the everyday internet via blockchain. The network sustains itself while enabling communication on a peer-to-peer basis without the need for a third party. 3Web has not been convincing over the last 30 days, posting a decline of -99.17%. Presently, the token is trying to make a comeback and is doing a good job with a price of $0.000203, seeing a rise of 111.48% in the last 24 hours. The token boasts of a trading volume of $383,247 in the last 24 hours. However, other details were not available in writing.

Trading in the crypto market is quite tedious due to certain market factors. However, you should do a great deal of research into any project you intend to invest in. These shitcoins also have some potential in the market but would fail in the long run. This means that only seasoned traders who know how to trade them will earn massive rewards. You should also diversify your portfolio if you’re getting into these tokens.

Crypto project is the overall combination of what makes up a digital asset. This considers all the aspects of the asset like the platform, the token, and what they aim to achieve. To simplify this, we can take a look at the Ethereum project. In its case, the project makes up the Ethereum network or platform, the Ethereum token, and other noticeable parts that users can access. Presently, the crypto market has almost 10,000 crypto projects spread across centralized and decentralized markets. Although what each project offers varies from the other, traders are open to choosing the project they intend to back.

As mentioned above, there are about 10,000 crypto projects spread across the market. Some of these projects are legitimate and show promise, while others are not. It is left for a trader to analyze a crypto project before investing in it carefully. Below are a few of the steps to identify the legitimacy of a crypto project;

This is an essential factor in accessing how legitimate a crypto project is. In this case, you will need to access everybody on the team. It is advisable to take a deep look into their portfolio. Their profiles on websites like Twitter and LinkedIn could point you in a good direction. With this, you will ascertain if they are well versed in blockchain and other aspects of the crypto sector.

This is also another prerequisite to look out for when identifying a legitimate project in the crypto sector. A good crypto project would command presence across various platforms such as Reddit, Telegram, Slack, and Twitter. They would also constantly update their channels and pass out vital information to followers when needed.

This is the most important factor to determine how legitimate and good a crypto project is in the market. The developers should be able to spell out all the use cases of the token. They should also communicate the incentives that traders would gain from holding these tokens, among other essential things. If the project does not have a token, they should provide ways to reward users.

Although this step is always ignored, it is vital when looking at a legitimate project. This is because they are countries with rules against crypto while others embrace it. In a case where a company floats a crypto project in a country that has abolished trading it, it brings issues to the project. This means that the project and the company would suffer for neglecting the country's law and floating the crypto project in the long run.

Since the start of the year, many tokens have been launched in the crypto sector. Aside from that, others have shown promise since the beginning of the year. Although some tokens have cemented their positions already, traders are looking for the following big crypto projects. Below are the top 5 crypto projects with massive potential in 2022;

Lucky Block has cemented its place at the top of the crypto project to look forward to in 2022. This is because of the massive adoption that the token has enjoyed in the last few weeks. The crypto project is making waves with its integration into the lottery sector. Lucky Block is a lottery platform that is available on the blockchain. The lottery tickets on the platform are designed as smart contracts. With this, every drawing that is done is fair. The platform allows users from all over the world to use its services without restriction. The last few weeks from its presale have seen a massive climb of about 300%. Presently, the token is trading around $0.005824, seeing a 24-hour fall of 1.88%. In the last 24 hours, Lucky Block has had a trading volume of $4,402,669.

Decentraland is also another exciting project to consider in 2022. The platform allows players to take advantage of an in-game virtual world to make money. Users can use in-game tokens to purchase real estate known as LAND in the game. This feature has pushed the crypto project to the top of the most sought-after in the market. In addition, players can also trade their in-game items on the Decentraland marketplace. Presently, LAND is trading at $2.54, seeing a decline of 5.97% in the last 24 hours. The token has a trading volume of $767,183,438 and market cap of $4,683,118,598.

Shiba Inu has also become another crypto project market participants are looking forward to in 2022. The token was born off the back of the success of a fellow meme coin, Dogecoin. After the release of the token, it saw a massive rise of around 1055% in October 2021. Since then, traders have been anticipating the next big rise of the token. The recent launch of ShibaSwap has given the community and the market another reason to put their hope in the token. The token is presently trading at $0.000023, losing 5.91% in the last 24 hours. The token has a trading volume of $1,166,446,154 and a market cap of $12,831,156,914.

Going by the token's name, Binance Coin is the native token of the Binance crypto exchange. It is also the native token used on the Binance Smart Chain. Users trading in BNB on the crypto exchange pay lower fees in terms of transaction fees. Asides from that, users of the token can generate rewards from staking the token. Also, traders can use the token as collateral to take out loans across the DeFi sector. Overall, the massive push in the digital asset price is one integral factor that has pushed its adoption. It is also why it is a crypto project to look out for in 2022. Binance coin is presently trading around $362, seeing a decline of 3.85% in the last 24 hours. It has a trading volume of $1,581,264195 in the last 24 hours and a market cap of $59,812502,412.

Bitcoin is the first and leading digital asset in the crypto market. Although some traders believe that the token has gone high enough, others feel it still can go far in 2022. For instance, back in March 2020, Bitcoin traded as low as $3,500. Today, the digital asset is trading more than 10x the value it was trading then. Although it is nothing close to its all-time high, there is still enough space for the token to return to those highs. This is because it is widely recognized, and so many traders are buying a massive amount of the token. Bitcoin is presently trading at $37,369, with a decline of about 5.10% in the last 24 hours. The token has a 24 hour trading volume of $21,947,895,849 and market cap of $708,899,551,333. Bitcoin has a total supply of 21,000,000 tokens, and it presently has a circulating supply of 18,969,825 tokens.

These crypto projects listed above are among the top picks in the list of projects to look forward to in 2022. Honorable mentions include Ethereum, Avalanche, Curve, XRP, and Cosmos. However, traders should note that it is advisable to research before going in on a particular token. It is also advisable to diversify one's portfolio in a general market decline. With this, traders would not lose out entirely on some profits while the market is down.

According to its website, Ethverse professes to be an extensive, interactive, and decentralized virtual world created by utilizing the Minecraft gaming engine and Ethereum blockchain. In this, users hold and exchange/trade property and assets within the world. Ethverse enables users to interlock in immersive adventures and make a profit. The current marketcap is $2 Million. At the time of writing this, the ETHV price is sitting at $0.254. 

According to its whitepaper, GridZone is an art-centric metaverse on Ethereum with unparalleled digital identities, a 3D Virtual Reality world, and communicative 3D NFTs. Its concept is based on 3D interactive NFTs that gives its owners the chance to make a profit during GridZone metaverse. The current marketcap is $8 Million. At the time of writing this, the ZONE price is sitting at $1.72. 

According to its whitepaper, Decentral Games is a social gaming Metaverse. In this, users can get tokens by playing games like poker, blackjack, roulette, and slots. The game ICE Poker now allows users to make real money by finishing daily tasks and playing against each other in a free-to-play poker game. The current marketcap is $12 million. At the time of writing this, the ICE price is sitting at $0.189.

According to its website, Monavale is a decentralized protocol for open interoperable markets such as fashion, gaming, modding, NFTs, DeFi, DAOs. It is also building the first Web3 fashion operating system. The current marketcap is $14 million. At the time of writing this, the MONA price is sitting at $1,666.93 

The recent Bitcoin price rise made some altcoins soar in prices. This post is all about the top 5 cryptocurrencies that performed excellently in the last seven days. At the time of writing this, the Bitcoin price is sitting at $61,281.93. The BTC price has increased by almost 0.2% in the last seven days. Some altcoins performed well. So, what are the top 5 cryptocurrencies to invest in? Let’s take a look at it in more detail.

According to its website, THORChain bolsters cross-chain liquidity pools with no pegged or wrapped tokens. In the last 7 days, the RUNE price has increased by almost +36.1%, just enough for a spot on our top cryptocurrencies list.

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Zcash is primarily a Bitcoin fork, so it’s useful for wallets to support confidential transactions. It is a privacy coin. In the last 7 days, the ZEC price has increased by almost +46.9%, just enough for a spot on our top cryptocurrencies list.

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Shiba is one more meme and community-based dog-themed token. According to the official narrative “SHIB is an experiment in decentralized spontaneous community building”. It has a total supply of 1,000,000,000,000,000 (or 1 quadrillion) tokens. In the last 7 days, the SHIB price has increased by almost +47%, just enough for a spot on our top cryptocurrencies list.

According to its website, NEXO (NEXO) is a pliant token that is backed by the underlying assets. It gives consistent passive income to token holders in the form of 30% of the company’s profits. In the last 7 days, the NEXO price has increased by almost +50.9%, just enough for a spot on our top cryptocurrencies list.

According to its website, OKB is a utility token that acts on the Ethereum platform. It is distributed by the OK Blockchain Foundation. The foundation burns OKB tokens systematically to limit supply. This raises the price and helps users to hold tokens. The OKB price has increased by almost +66.1% in the last 7 days, just enough for a spot in our top cryptocurrencies list.

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For many people, the Bitcoin price fluctuations are limitless. This post is all about the top 5 cryptocurrencies that performed well in the last seven days. At the time of writing this, the Bitcoin price is sitting at $60,952.56. The BTC price has increased by almost 10.4% in the last seven days. Some altcoins performed well. So, what are the top 5 cryptocurrencies to invest in? Let’s take a look at it in more detail.

The Matic Network is a platform invented for Ethereum scaling and infrastructure modernization. Recently, the project turned its brand to Polygon. According to its website, Polygon is a protocol for producing and linking Ethereum-compatible blockchain networks. In the last 7 days, the MATIC price has increased by almost +12.3%, just enough for a spot on our top cryptocurrencies list.

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Telcoin is a cryptocurrency that is based on the Ethereum blockchain. The coin was launched in the year 2017. The aim is to be the connection between cryptos, blockchain, and the telecommunication business. It professes to promote money transfers at extraordinary speed and at a low cost. In the last 7 days, the Telcoin price has increased by almost +17%, just enough for a spot on our top cryptocurrencies list.

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Stacks is a platform that promotes the application of smart contracts and decentralized applications. It produces its potential from Bitcoin, as it depends on it for the safety and performance of transactions. In the last 7 days, the Stacks price has increased by almost +17.2%, just enough for a spot on our top cryptocurrencies list.

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One of the main purposes of Polkadot is to work as a kind of decentralized hub for all sorts of blockchains. The blockchains should be able to communicate with one another (Inter-blockchain communication/IBC). In the last 7 days, the DOT price has increased by almost +17.4%, just enough for a spot on our top cryptocurrencies list.

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SPELL is the governance and utility token. It is created by Abracadabra Money. Abracadabra money is a contract to obtain a stablecoin named MIM with the credit relation assets. In the last 7 days, the SPELL price has increased by almost +23.1%, just enough for a spot on our top cryptocurrencies list.

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QNT, LUNA, RUNE, OKB, and AMP are the top 5 cryptocurrencies that showed the highest growth in the last 7 days and that may continue to attract buying interest in the short term.

AMP, the internal token of the cryptocurrency payments application Flexa, grew 43.9% in the last 7 days, reaching $0.071 per unit. The cryptocurrency is ranked 32 on CoinMarketCap. AMP has a market capitalization of $2,998,736,338.

Flexa describes itself as the "first digital currency payment option for retail." It aims to offer a global solution for the acceptance and spending of cryptocurrencies. Its previous infrastructure token, Flexacoin (FXC), became AMP late last year as part of a renovation. AMP seemed to do better than the original almost instantly, and throughout 2021 it has risen in value, starting at $0.006 and being worth $0.07 to date.

Amp claims to offer a simple yet versatile interface for verifiable warranty through a partitioning system and warranty managers.

The OBK token grew 47% in the last 7 days, reaching $ 18.02 per unit. The cryptocurrency, ranked 72nd on CoinMarketCap, has a market capitalization of $ 1,081,250,690.

OKB is a cryptocurrency that launched by the OK Blockchain Foundation and the Maltese cryptocurrency exchange, OKEx. The exchange is one of the largest in the world. It currently ranks third in liquidity, fourth in trading volume, and offers a wide selection of trading pairs. OKEx is similar in many ways to the giant cryptocurrency exchange Binance, but there are a few key differences. The OKEx platform has its own cloud mining service. Additionally, the company is more focused on offering trading options for users.

The OKB token plays an important role in the OKEx ecosystem. It allows users to receive up to a 40% discount on transactions (depending on the number of tokens the user has).

RUNE is the token of the THORChain protocol. It grew 47.88% in the last 7 days, reaching $5.27 per unit. The cryptocurrency, ranked 66th on CoinMarketCap, has a market capitalization of $ 1,234,430,374.

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets through a variety of networks without losing full custody of their assets in the process. It is not profit-oriented. All fees generated by the protocol go directly to users, and there are no provisions for the team, which is incentivized simply by holding its token (RUNE). That's why THORChain is on the list of the top 5 cryptocurrencies to watch this year.

LUNA, the token of the Terra protocol, grew 50.10% in the last 7 days, reaching $10.47 per unit. The week before it had dropped to $ 5.58. The cryptocurrency, ranked 26th on CoinMarketCap, has a market capitalization of $ 4,350,943,013.

Terra is a blockchain protocol that seeks to differentiate itself through the use of stablecoins pegged to fiat currencies, claiming that it combines the borderless benefits of cryptocurrencies with the daily price stability of fiat currencies. Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders can also submit and vote on governance proposals.

And now we reach the last of our top 5 cryptocurrencies. QNT, the token of the Quant project, grew 79.3% in the last 7 days, becoming the cryptocurrency with the highest weekly growth. It reached $129.58 per unit. QNT, ranked 59th on CoinMarketCap, has a market capitalization of $ 1,571,620,454.