There is a massive debate on the future of the crypto currencies that are labelled as security by the Security Exchange Commission of the U.S. The reason why people are worried about these "labelled" cryptocurrencies is that we all know that the SEC will be on their back to examine every single step taken by them.
By nature, crypto projects are prone to be boundless and the lack of restrictive regulations has been enabling it for all coins. However, in the case that the listed cryptocurrencies are accepted as digital securities, their operations will be less flexible and the team will be forced to comply with the policies of the SEC like a company rather than a technology platform.
Actually, I was hunted by the SEC as I had lots of BNB and I still have some MATIC in my cold wallet. As holding BNB enables tickets or more allocation in LauncPads and LaunchPools, I did not see any issues by holding it. However, when the first wave hits, I decided to turn my BNB into Bitcoin when the market started to go down.
The question is: What should I do with my MATIC bag?
When you look at the coins that are assumed to be securities are old / veteran projects of crypto ecosystem. As we all know, the veteran projects are put into second position in a bull-run as there are more expectations from new and strong projects that have not pumped yet!
Embracing this mentality, we may make a rough estimation that the veteran ones would bring 2x - 3x while the others go to skyrocket. Though it may sound like an overgeneralization, the eyes are not on the old coins, rather, people rush into Arbitrum, Optimism, SUI, Aptos, zkSync, Polygon zkEVM as they are young and more likely to reward holders/traders well. Also, the use of GPU, project RNDR, and the education concept, EDU, are hot projects to be in.
Thus, I'm supporting the side that I may turn my MATIC into RNDR and, for the short time trade, some XRP to make gains.
Render project is one of the hyped and favorite projects in crypto as it is based on renting GPU, much needed oil of computers, and the popularity of the project increased with the astonishing action of NVDIA.
In the daily chart, MA128 is at $1.78 and the price bounced back from this level.
Also, I think the weekly chart has something to say for the long term purchase!
This is the weekly chart of RNDR.
The price of RNDR has bounded 2 times before the recent test. Actually, the weekly and daily charts are hot 🔥
Do you want to see the case in the monthly chart?
Here we go. You can see $1.842 green price tag and it is the 20-month support level for RNDR. Actually, I know that it is toooooo risky to jump into another altcoin but considering all these charts, I cannot stop myself.
My plan is to use the majority of my bag for RNDR and some for XRP to make gains from short term trader. The chart of RNDR has a lot to say and there is no risk of the SEC like in MATIC.
It is a hard decision to take but the future of RNDR looks brighter to me. Thus, I do not want to worry about the price of MATIC by taking the risk.
The only negative chart is TOTAL3.
For altcoins to rise, we need 350B to be exceeded. Otherwise, the sell pressure kills the sentiment over there. The RSI shows oversold level for Total 3 and I think it is something positive for the shorter time frame. We need to watch it closely.
Overall, I am considering converting MATIC portfolio to RNDR while Render is pretty undervalued at these levels. While crypto ecosystem is already too risky, I do not want to lose more due to the announcements or policies by the SEC.
Are you holding any crypto currency that is labelled as a security by the SEC? If yes, what is your plan for that crypto?
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