We come to a list of alcoins that the cryptos investors and traders should steer clear of, at least for this week.
#1: V.Systems (VSYS)
Although VSYS currently shows 5% and 52% daily and monthly gains, respectively, probably due to the recent market upswing, it is currently ranked 915th in market capitalization. On the other side, its weekly chart shows a loss of 25.05%, and it is presently selling for $0.002041.
VSYS/USD 4-hour chart | Source: TradingView
V.Systems (VSYS), a blockchain infrastructure provider with a focus on database and cloud services, claims to enable high-performance minting, transaction processing, and smart contract functions; however, because of its sluggish technology and adoption, it only received an ‘E-‘ grade from the Weiss Crypto Ratings.
#2: Ultrain (UGAS)
The UGAS token of the Ultrain ecosystem, which is building a sustainable commercial ecosystem and enabling various industrial applications using innovations in cryptography to try and solve scalability and performance issues of other blockchain platforms, is another cryptocurrency this week that is advised to be avoided.
UGAS/USD 4-hour chart | Source: TradingView
Even though it has a fair amount of momentum on the market—its price has increased 14.65% over the past week and 83.49% over the previous 30 days—it still has very low technology, and adoption grade (only 4,000 followers on its community Twitter page) and its market cap ranks 1,854th among all cryptocurrencies. On the last day, it lost 14.03% of its value and traded at $0.0014.
#3: Tokenomy (TEN)
Tokenomy (TEN) aims to promote financial inclusion and give entrepreneurs access to alternative funding networks through its token exchange and crowdfunding platform. Still, its slow adoption has earned it a very low score among all actively traded cryptocurrencies, despite the fact that its team recently published a job ad for several tech positions.
TEN price | Source: CoinMarketCap
The 998th cryptocurrency by market size is presently trading for $0.02283, up nearly 9% over the previous 24 hours but still down 11.46% over the previous week and 19.82% over the last 30 days.
Read more:
- Silicon Valley Bank Shuttered By California Regulator Over Liquidity And Insolvency Concerns
- Circle Concerned Over USDC Reserves At Silicon Valley Bank