The past week has seen an opportunity for profit in nano-cap tokens.
Volatility on Hold
After a relatively positive week throughout the crypto market, the usual volatile terrain of nano-cap tokens have also seen significant rises.
$COCO saw a 500% shift over the course of a week, moving from $0.00040 on the 11th of August to $0.002 by the 18th of August, according to CoinMarketCap.
Just over the course of the past 24 hours we have seen $DADDYCAKE shift from $0.00002 to $0.00004. More impressive is perhaps the shift in volume over the past week, that has gone from just over $300k to over $1.3 million.
Through the data made available to us by CoinMarketCap we can highlight the huge shifts in price endured by TasteNFT token $TASTE over just ONE day. The price peaked at $0.00000012, before a drastic drop to $0.00000005 and swiftly back up to $0.00000011.
These incredible fluctuations are illustrated below and will serve as a warning to prospective investors when it comes to how much you should risk upon embarking on investment.
Project Glance
Daddy Cake
Daddy Cake describes itself as the father of the Baby Cake reflection token. They explain that simply by holding the native token $DaddyCake, you will receive rewards in CAKE on every transaction.
The available auto-claim feature will also allow you to automatically receive CAKE every hour. They are yet to complete their Certik audit – leaving this as a high risk token
TasteNFT
The TasteNFT team has outlined itself as being dedicated to creating the most advanced and popular NFT marketplace for tasteful and tasteless NudeArt.
The aim is to offer the best possible experience for prospective users, as well as securing digital rights of artists and content creators who will be contributing work. The hope is to garner the kind of attention these creators merit.
Coco Swap
The Coco Swap native token is described as being the fuel behind the Coco Swap decentralized platform. $COCO is explained as a progressive deflationary token built on the latest DeFi protocol systems.
The overall aim of the token is to offer users decentralised network transactions witha faster time and a cheaper exchange fee.
The path forward for $COCO, will be determined by the success their team makes and the overall flux of the market.
Word of Warning
As always, we here at BSC News urge caution when it comes to investing, but we especially emphasise it in regard to nano-cap tokens. This is where the terrain can be extremely volatile and risky.
Often aptly described as almost like ‘penny stocks’, nano-caps are relatively new in their journey and are yet to undertake auditing processes.
We have even seen established projects that have passed Certik’s auditing processes endure exploits, so we urge extra caution for those that are fairly recent.
Source : bsc.news
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