To read the seventh part of our Moonshot series, which focuses on Hirematch, click here.
Each week BTCManager and the JaketheCryptoKing are going to explore a new SNOV (Snovio).opportunity. We are in week eight of this moonshot experiment! Markets just suffered a major correction providing the perfect opportunity for some moonshot shopping at discounted prices. The moonshot for the week beginning March 19;
What is a Moonshot?
A moonshot is anthat can provide returns of investor’s dreams or can be a complete flop. Are there coins that can provide gains of over 1000 percent within a one-year period? Of course, there are! These coins exist in the cryptocurrency marketplaces; they solely need to be found. Moonshots are very different than most cryptos as they are meant to be purchased and held. Moonshot principles are vastly different than those implemented by day traders and short-term holders. They are cryptocurrencies that you see their long-term value and expect returns of hundreds if not thousands of percent.
This week’s Moonshot is SNOV. They have a very eventful week with their marketplace being launched by March 31, 2018. SNOV is a long-term hold but is also a coin that should see significant price movement in the immediate short term. Moonshots, like most altcoins, truly moon when the utility of the underlying token is increased. In under two weeks, the SNOV token’s utility increases drastically.
Crypto Market Overview
This month has seen an unusually high level of FUD leading to resentment and negative market sentiment. The most recent events that negatively impacted the crypto markets are;
- Alphabet (Google) Banning All Crypto-related Ads,
- Regulatory Actions (SEC and U.K.).
When sentiment is lowest the opportunity for accumulating is greatest. March is packed with major(similarly to February) which should continue to spread blockchain awareness regardless of what the overall majority of cryptos prices do. The remaining days in March coupled with a bullish April should begin to provide many catalysts to boost both the and the entire cryptocurrency markets. Moonshots and altcoins are more susceptible to volatility in either direction making a bullish trend in our current rebound a very good buying opportunity.
From the end of January to the beginning of February bitcoin (BTC) suffered one of its greatest corrections in history having fallen more than 70 percent since the all-time high of almost $20,000. BTC bottomed out at a low of just under $6,000 February 5, 2018. Since this moment of panic, BTC has been exceptionally volatile. In the past 30 days BTC has approached $12,000 while also dipping below $8,000. This correlates to a shift in price of 50 percent. With BTC residing at $7,700 per coin, the opportunities within the crypto space are significant. To take advantage of these opportunities make sure to be holding past moonshots; DBC, TNC, DRGN, PRL, KCS, MTL, HIRE, and now; SNOV.
SNOV: Snovio (Marketplace Launch)
The reason SNOV is a moonshot this week is that they are finally releasing their marketplace! A utility token is useless until it has actual utility. For the prior months, the concept of SNOV was just that, a concept. By March 31, 2018, SNOV is finally able to ‘move up to the big leagues’ by bringing exceptional utility to their token. Right now there is nothing you can do with the SNOV token, nothing merchants or users can utilize it for. March 31 that all changes with the release of their online marketplace.
SNOV currently is predominantly traded on Bibox but also has a lower volume on KuCoin. Currently, each SNOV token has a value of $0.032 with a total market cap of $13 million. On January 9, 2018, SNOV was valued at over $0.40 per token. In the past three months, SNOV has fallen more than 90 percent. A drop of over 90 percent would be logical for a crypto being delisted. However, SNOV is only adding exchanges in coming months as they bring utility to their coin within two weeks. The SNOV marketplace creates utility for the SNOV token. If analyzing the prior month’s Top Performing Cryptos has demonstrated anything it is that utility creates value.
SNOV is a token that is currently flying under the radar of most investors and crypto traders. This will likely change with a huge shift in SNOV value when they launch their marketplace.
What is SNOV?
According to SNOV, they are the “First decentralized lead generation platform, which rewards its contributors with tradable SNOV tokens.” As a decentralized lead generation platform SNOV intends to challenge the way lead sourcing works. Currently, a major hiccup in business is sourcing quality leads. This is where SNOV intends to excel. By implementing the blockchain, SNOV can generate leads as specific as “pizzas lovers from Melbourne.” The price per lead will be regulated in a decentralized manner. This will allow for the distribution of the rewards between contributors while providing transaction transparency.
The remaining few weeks have major events outlined by their roadmap. February saw their database grow to over one million profiles. However, the next few weeks are even more exciting with the launch of the proprietary mailing module. This module sends triggered emails regarding updates to contacts within the platform. The most important event is scheduled to occur before the conclusion of quarter one being the Blockchain Marketplace Launch. This platform will connect businesses and Data Research Analysts. This entire ecosystem will be powered by smart contracts using the SNOV token as a means of exchange.
Conclusion: SNOV is Great Both Short and Long Term
In the crypto space, it is always important to purchase long before the expected news. With approximately two weeks before the marketplace platform is launched the SNOV token still has no utility and is at a price 90 percent lower than where it was in January. The SNOV token was highly sought when there was no utility behind it due to speculation. The next step is adding real utility to the token which will remove speculative interests. Utility is what truly drives value in the crypto markets, and SNOV is about to bring utility to what previously had been a useless token.
SNOV should see significant returns if their platform is launched successfully without hiccups or delays. As the utility of the SNOV token increases, the underlying price similarly should correspond. Look for SNOV to have a strong next two weeks leading up to their marketplace launch with long-term success determined by the adoption of their marketplace. Will companies look for discounted high quality leads on the blockchain? Or will SNOV never re-approach its January highs?
With actual utility being weeks away it seems SNOV is poised to begin its bullish trend once again. If the crypto markets turn bullish or begin a rebound, SNOV should see exceptional returns in a very short period of time leading up to their marketplace launch.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
To read the entire Moonshot series, click.