When looking at any metric, but this metric specifically, beware of transaction volume spoofing as well as fake news articles meant to pump the price of tokens. Blockchains with cheap transaction costs can be spammed to make it seem as if there’s a high trading volume, or insiders can simply sell to themselves over and over again, or even use bots to trade, making it seem as if there’s a high interest in their token.
Crypto markets, especially those outside the USA, are not laos whatsapp number data like traditional financial markets, there are wayyyyy more scams to watch out for. Do your homework!
Is it Most Profitable to Buy & Hold NFT Game Tokens?
Buying, holding, and dollar-cost averaging (DCA) is a proven method for making money in the cryptoverse – assuing you buy tokens that continue to be popular over time. That in itself is a huge challenge! Though it’s kind of a gamble to know which games will be popular long term, it may be the safest way to make money with NFT tokens. When you trade, you constantly have to battle human emotions and logical errors.
For those unfamiliar with dollar-cost averaging, this is a method of investing where you split up your money into equal parts and invest them on a regular basis at set intervals. Rather than investing everything in one lump sum, you split up your buys.
Don’t invest your life savings into an NFT game token, though. Especially one where there is no clear trend for growth. This isn’t Bitcoin, and there is no data to indicate that having a DCA strategy will work with NFT game tokens just because data illustrates this with more prominent cryptocurrencies.
When looking at any metric, but this metric specifically,
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