The crypto market has seen an enormous growth since Bitcoin (BTC) came into existence, with thousands of different digital assets popping up in the sector. But this doesn’t mean they are all worth investing in. Finbold has analyzed the crypto market, looking at the scores assigned by respected platforms like the Weiss Crypto Ratings, the historical performance of assets, and recent developments, to determine which cryptos should be avoided for the time being.
V.Systems (VSYS)
V.Systems (VSYS) is a blockchain infrastructure provider focused on database and cloud services. The company is trying to make high-performance minting, transaction processing, and smart contract functions easier, but its technology and acceptance levels are still low, garnering it a poor ‘E-‘ rating from the Weiss Crypto Ratings.
At the moment, VSYS is the 915th most valuable crypto in terms of market cap, and while it is recording daily and monthly gains of 5.06% and 52.32%, respectively, it has dropped 25.05% on a weekly basis. It is currently trading at the price of $0.002101.
Ultrain (UGAS)
Crypto traders and investors should also tread carefully when it comes to the UGAS token of the Ultrain ecosystem. The project is attempting to create a sustainable commercial ecosystem using cryptography to solve scalability and performance issues seen in other blockchain platforms.
Unfortunately, its technology and adoption grade is still very low (only 4,000 followers on its community Twitter page), and its market cap places it at the 1,854th-place among all cryptos. The asset’s price has advanced 14.65% over the week and 83.49% across the previous 30 days, but it is still down 14.03% on the last day of trading and its trading at $0.001534.
Tokenomy (TEN)
Tokenomy (TEN) is another crypto that should probably be avoided this week. The token exchange and crowdfunding platform is trying to foster financial inclusion and provide access to alternative funding networks, but its slow adoption has earned it a very low score among all actively traded cryptos. The team has recently posted a job ad for several tech roles, but it remains to be seen how this will affect the crypto.
At the moment, TEN is the 998-th in terms of market cap and its trading at $0.02167, up 3.17% over the last 24 hours. However, the cryptocurrency has declined 11.46% across the previous week and 19.82% over the past 30 days, according to the latest data from Finbold.
Conclusion
Cryptocurrency sentiment and situations can change rapidly, which is why it is important to do your own research and examine any digital asset before investing in it. That being said, for the time being, these three cryptos should be avoided.
Disclaimer: The content on this site should not be regarded as investment advice. Investing is speculative. When investing, your capital is at risk.
