Cryptocurrency investors are on constant alert, navigating all corners of crypto media, chats, forums and more in search of upcoming and current projects that can be called Gems. They are challenging to find amidst the slew of projects currently occupying the space, yet, they can be extremely rewarding. True gem hunters have developed their fundamental analysis skills to a level that allows them to discover key opportunities before anyone else.
But what is a cryptocurrency gem anyway?
They come in all shapes and sizes, so it can be hard to know at a glance.
Essentially, a ‘gem’ would be a Blockchain projects own cryptocurrency that is more or less hidden from the public eye, under the radar, underestimated, yet carries astounding profit potential. There are multiple factors that can go into one’s personal valuation of a crypto-asset. For example, in terms of utility tokens, one must evaluate the functionality and features that said tokens unlock in terms of a project’s overall ecosystem. How useful is it in the scope of things, will its applied utility see demand from the general public?
Markets of any kind are driven by supply and demand, this is basic economics. Should demand outweigh supply – the price of an item or asset would increase naturally to accommodate buyer pressure. Therefore, a key assessment you should be making when scouting for a gem is whether or not the characteristics of the specific asset will lead to future demand outweighing supply.
In this sense, utility tokens, or coins, are rather transparent, since key features to take in mind when evaluating them is their unlocked utility, the entity issuing the crypto-asset, it’s relationship with its community, and future plans for expansion. If your research leads you to conclude that the business issuing the token or coin is of promise and could grow in the future, congratulations. If the utility of the crypto-asset is well designed, and therefore closely tied to the business, that would, therefore, indicate that the business’s overall growth would correlate with and positively impact the growth of the crypto-asset. If the utility makes sense, and the business is legitimate and has prospect, both should flourish.
One utility coin that we’ve had our eyes on for a while, and provided coverage for is NEXT. It is the utility coin of, well, for simplicity’s sake, the NEXT ecosystem, and it’s been flying quite under the radar. Also, the coin supply itself is carefully designed, with 15 years needed to achieve its maximum supply of 30,300,000 through Proof of Work and Proof of Stake consensus mechanisms.
If you don’t know already, NEXT is the native crypto-asset of NEXT.exchange, a soon to be released hybrid cryptocurrency exchange that combines key functionalities of centralized and decentralized exchanges to create a desirable hybrid model. The goal is to achieve the right balance between the two popular market alternatives.
Utility unlocked on NEXT.exchange
NEXT coin holders get access to a number of exclusive utilities on NEXT.exchange including:
- A 50% discount on trading fees
- Priority access to trade newly listed crypto-assets
- Receive a portion of the trading fees collected by the exchange. The more you hold, the more you get
- Automated staking of PoS crypto-assets
- Exclusive access to fiat services such as trading, deposit, and withdrawals after completing KYC
- Vote to list upcoming crypto-assets
- Reduced listing fees for projects
As of now, these benefits are available to anyone that holds 100+ NEXT coins. However, keep in mind the threshold can change based on market conditions and feedback to keep it fair and optimal (which is a good thing).
Uses on NEXT.chain
NEXT runs on its own blockchain, independent of Bitcoin or Ethereum. NEXT is the native crypto-asset of this blockchain, which brings a number of inherent benefits:
- Launch a Masternode. It requires 25,000 NEXT to be used as collateral. In return, you become a vital part of the NEXT.chain, also enabling you to receive future voting power and an ROI for clearing transactions on NEXT.chain
- Create a crypto-asset. NEXT.chain supports the creation of assets, in exchange for a small fee to be paid in NEXT.
- Contribute to the network by connecting to the mining pool and verifying blocks. This will help to maintain network security and reward you in NEXT, which is also merge mined with BTC.
Uses on NEXT.genesis
- NEXT.genesis is the NEXT ecosystems blockchain crowdfunding platform. On it, NEXT can be used as a participation method for future crowdfunding campaigns and crypto-asset sales.
Future growth of NEXT
The NEXT team has the ambition to show others in the space how it’s done. They want to go above and beyond other industry players and competitors to really offer their users the best utility and exchange benefits. The goal is to launch a powerful exchange and continue to add to the product offering over time.
There are multiple developments in the pipeline that are promised to follow the launch of NEXT.exchange, including a referral program, additional token listings, a vote-to-list program, liquidity provider incentives, listing marketing packages, and much more.
It’s safe to say that the NEXT team is shooting for the stars. They have designed their crypto-asset to be closely tied to the exchange and the success of the business, something that isn’t commonly found elsewhere. It is also their clear intention to do everything they can to scale the exchange and gradually build a large user base. With the presented tokenomics and utility, one would expect the growth of the exchange to drive demand for NEXT because the available utility is pretty damn powerful.
The NEXT team has ambitious plans for their products and their crypto-asset. Potential investors should keep a close eye on the NEXT due to its powerful utility and strong tie to the exchange platform, with the potential to yield tremendous results.