Hello, It's been a long time since I wanted to have the possibility to finally say this: LONG on MCO!
Let's see why I bought it and staked it right today.
FUNDAMENTALS
This is one of the two coins of the environment crypto.com (previously known as Monacocard) that allows users to get a cashback card at no cost just by blocking MCOs on the platform. This feature, considering that with the new coin CRO the use case of MCO is exclusively for receiving the card, makes the coin very stable. Indeed, less and less MCO are free to circulate as they are stacked by users for months. Also, after Asia and US, cards are finally free to be distributed in Europe (since october), so the demand for the token is expected to rise.
TECHNICALS
Why now? First of all, I was not interested in this kind of token years ago.
Secondly, I waited for all the conditions to be in the good position.
Indeed, if the price was higher, then keeping the coin stacked would have been a risk, because you risk to get back MCO, once unblocked, that are worth less than when you staked them. In this particular moment, this risk is very low as we touched the baseline of the ascending triangle at 0.0005btc (it went below only when BTC fell from 14k to 8k).
It is not the same for the other coin of the ecosystem, CRO, because despite the possibility to participate in discounted sales for coins (also BTC with 50% off), it has a very high value, meaning that staking the coin for many months can be dangerous as you can get bak a depreciated token.
Going back to MCO, its stability con be also noted in its dollar-value, and not only in btc-value, as the price is really stable lately and touched the same baseline (5$)
This makes MCO as the perfect halfway alt in this moment for a small portion of my cryptoportfolio: not as volatile as BTC, not as stuck as USDT, a good halfway crypto that also provides a lot of benefits.
We can see a nice bounce from the base of the Ascending triangle
Targets are 0.001 and 0.0015 (hopefully when my staking period will be over)
Notice that in this case I didn't want to wait for a confirmation (e.g. breakout to the upside of the triangle) as my main goal is to buy them at the lowest possible price since I have to stake them!
Let's see why I bought it and staked it right today.
FUNDAMENTALS
This is one of the two coins of the environment crypto.com (previously known as Monacocard) that allows users to get a cashback card at no cost just by blocking MCOs on the platform. This feature, considering that with the new coin CRO the use case of MCO is exclusively for receiving the card, makes the coin very stable. Indeed, less and less MCO are free to circulate as they are stacked by users for months. Also, after Asia and US, cards are finally free to be distributed in Europe (since october), so the demand for the token is expected to rise.
TECHNICALS
Why now? First of all, I was not interested in this kind of token years ago.
Secondly, I waited for all the conditions to be in the good position.
Indeed, if the price was higher, then keeping the coin stacked would have been a risk, because you risk to get back MCO, once unblocked, that are worth less than when you staked them. In this particular moment, this risk is very low as we touched the baseline of the ascending triangle at 0.0005btc (it went below only when BTC fell from 14k to 8k).
It is not the same for the other coin of the ecosystem, CRO, because despite the possibility to participate in discounted sales for coins (also BTC with 50% off), it has a very high value, meaning that staking the coin for many months can be dangerous as you can get bak a depreciated token.
Going back to MCO, its stability con be also noted in its dollar-value, and not only in btc-value, as the price is really stable lately and touched the same baseline (5$)
This makes MCO as the perfect halfway alt in this moment for a small portion of my cryptoportfolio: not as volatile as BTC, not as stuck as USDT, a good halfway crypto that also provides a lot of benefits.
We can see a nice bounce from the base of the Ascending triangle
Targets are 0.001 and 0.0015 (hopefully when my staking period will be over)
Notice that in this case I didn't want to wait for a confirmation (e.g. breakout to the upside of the triangle) as my main goal is to buy them at the lowest possible price since I have to stake them!
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Or simply you don't want to risk it?
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Check it out now → ftmo.com/en/?affiliates=2427
