More than crypto 300% gain over a one year timespan.
Even leaving Steem out off the equation, although that one has about the same gain.
Will buy even more Verge {XVG}
In the realm of Bitmoney {AKA: Cryptocurrency, coins, cryptos and so on.} my focus has been set mainly on 5 different sorts. The most recent one I added to my long term portfolio is former Dark Doge coin, that got rebranded to Verge {XVG}. The reason I added it is because it is professionaly developed, supports a wide variety of platforms and has an electrum wallet. It has a unique set of rotating mining algorithms and it is fast. Currently not supporting SegWit, but when it does I expect it to boost the value of XVG on the market. Therefore, added as another long term investment to my portfolio.
Closing in again to the All Time High {ATH} of a week ago today for the Total Market Capacity. At the time of writing it is about 87 billion US Dollar, only 3 billion removed for the last ATH. That means the market recovered very fast, extremely fast as a matter of fact. Bridging a gap of 30 Billion US Dollar within a 5 day range...! Ever seen any other market regain itself that fast? We are talking 6 Billion growth a day, that is a lot, that will attract attention, it is the law. So, getting to the 100 billion mark might have been set back by at least a week, I expect it will be reached before the 21st of june 2017. And that means there is a lot to gain for cryptos like Steem {STM}. It would be strange if it kept hovering around 1 US Dollar, where it could do about $1.50 per STM.
Long Term Portfolio {LTP}
Steem, in the form of Steem Power {SP}, is part of my LTP. Close to 7000 SP, probably getting there today. Part of my payout I do use, so most of the time I set it at 50/50. It has payed already for a lot of stuff and that is absolutely part of the Steem fun. And keeping Steem Power {SP} has a nice bonus to it of 3% annual dividend. Added every time at least 0.001 Steem has been reached. Yet another reason to hold on to Steem Power for me. Besides that the Long Term Portfolio consists of Bitcoin {BTC}, Litecoin {LTC}, Gulden {NLG} and recently I added Verge {XVG}. Did try some short- and midterm trading, but my winning team is my Long Term Portfolio. So I think I am sticking to that, while I generate some more Steem through posting. It has been great Fruit Of Work {FOW} mining and I'd love to do some more.
Some numbers and figures to finish this post
On the current cryptocurrency market there are a total 856 currencies and assets. Dividing these over the current 87 billion US Dollar market capacity would virtually give 101'635'514 US Dollar per item. Looking at the real market capacity for every crypto currency and asset will show how popular and scarse it is to be considered. Per BTC this would give about 6.21 US Dollar dividing the current market price of Bitcoin by that will show it is very strong, 382 times the averaged value. For Steem that would be a bit more than two times, and could go the three times soon, getting to $ 1.50 per STM.
These calculations can give an insight on how strong a certain crypto currency / asset is. And that gets reflected in the ranking on the list at cryptocurrency market overviews. For me that helped me to move back a bit more to a realistic approach. Especially because I only want to keep a Long Term Portfolio, of which the cryptos are true to the ideals of a voluntary objectives based human society. According to my calculations, which you can easily repeat for yourself by the way, I came to the conclussion that there are a lot of cryptos, being coins and assets, that will slowly disappear over time. The main reason being that even with a total US Dollar market cap of 100 billion there can be only be about 68 that carry enough weight on the market. Those that have about 10 million market cap at least right now. (Leaving derivatives like SBD and GBG out off this consideration.)
That means that there is growth to be expected for those top 68 performing at 10 million US Dollar crypto currencies/assets. And Steem is in the top 15, where Bithares is at spot 17, when sorted at current Market Cap. Where Mergecoin closes the ranks. Good news for Golos too, it is in the safe zone, at least from my point of view. And although Verge {XVG} is close to the end of the list I do expect it to have a breakthrough soon, so it will move up in rank big time. But hey, that is speculation, like most of this post can be considered. So here comes the usual warning...
Please note
Only invest what you are willing and able to lose in cryptocurrencies. Also your speculation might be as bad or as good as mine.
Have a great one!
$100 billion crypto market on the verge of a breakthrough
image cc-by-sa @oaldamster