The Great Moon Experiment: 10,000 in Moons – $500 USD – 10 Coins on Binance, Redditors pick the Coins. – March 5th Update
That's right, we're officially 4 months in from the start of the project and Crypto keeps chugging. We started the month with Bitcoin at $36k, Elon Musk started tweeting, businesses started buying, we hit 58k (another new all time high) and we've been going back and forth from there.
So, with this in mind, how'd Reddits chosen coins hold up?
Without further adieu:
#10: XMR – $96.09
Monero continues to keep gains hidden from the challenge and continues its hot streak as the portfolios worst performer month over month. Its charts continue to mirror Bitcoin almost exactly and nothing really new has changed since the last month. Good news for stability at least – Darknet buyers and sellers can continue to expect a stable price for their illicit wares.
#9: XRP – $97.97
It's been interesting for XRP at least – With the craziness surrounding the SEC, exchanges delisting, crazy pump groups, and all sorts of stuff, XRP first followed Bitcoin and then went wild and wacky for a bit. It's since reverted to the mean and continues to underperform after it's incredible start to the challenge. We'll have to see where regulation and threats to the platform take it in the future.
#8: ETH – $181.69
ETH started the month hot hot hot, as it looked to be gaining ground on Bitcoin. Bitcoin however had other ideas, and it's since cooled off to largely follow it with huge gas fees and crippling usability issues coming to the forefront to new users experiencing it for the first time. A hot performer hitting all time highs, ETH has pulled back a bit so we'll have to see where it goes from here.
#7: VET – $251.92
Kind of crazy how a coin that's gone up over 500% in the last 4 months is vastly underperforming in this portfolio. VET hit two different all time highs this month and pulled back a bit after a bit of the shine wore off. Looks like the project is getting a little bit of momentum in it at last, as stagnant VTHO charts have doubled and tripled in days instead of free falling constantly.
#6: LTO – $267.49
Another one that's been hitting blistering all time highs, but is still somehow underperforming and is bottom 50% in this portfolio, LTO has breached the $0.40 mark 3 times this month alone. It keeps returning to the mean but keeps trying to break out. Volume seems high throughout but lack of viable exchanges for US residents appears to be holding it back somewhat.
#5: IOTA – $287.64
It's not hitting 2017 highs – Yet. But it looks like the tangle is back on the menu with IOTA having a blistering near 300% rally in February after crabbing for the majority of the challenge so far. IOTA appears to be having a huge price breakout and is looking to regain spots on the marketplace after a slow last couple of years.
#4: SOL – $345.43
A hot commodity last month, SOL figured it would simply triple in February just to outdo all its critics. A concern about increased circulating supply in February was smashed to bits as SOL not only posted multiple all time highs but had a disgusting pace this month even after pulling back – Its portfolio value doubled this month alone.
#3: NANO – $374.59
NANO is another that isn't going anywhere near all time highs, but the price more than doubled since the start of the month before reverting to the mean. It's still up a giant amount and still a strong performer since its buy at a comparatively low price at the beginning of the challenge.
#2: ADA – $594.74
ADA decided to make all other coins save one look bad this month, going wild by not only tripling, but by holding the vast majority of its gains, where other coins did not. With Bitcoin's pullback, ADA has only looked stronger and the faithful were rewarded with a new all time high, finally putting the memories of 2017 behind them as they look forward into the future.
#1: DOGE – $995.10
King of the ring around here is still DOGE, after retracing from a blistering, comically insane rally, it still holds strong at 20x gains from the original buyin. With Elon tweeting about it, WSB buying in, DOGE is STILL retracing and STILL the biggest gainer by a country mile. Not even close, baybay.
Our portfolio ended last month at $2396.36, giving a total gain of 1096.65 in February.
If the $500 (10,000 moons) had been left in moons, they would currently be worth $779.
If the $500 had been left in BTC (0.0353 * $48,458), it would be worth $1710.56
Reddit's portfolio has outperformed both Bitcoin and Moons by a country mile.