crossedfingers1

UNO - Hidden low cap gem

Long
crossedfingers1 Updated   
KUCOIN:UNOUSDT   UnoRe / Tether
Here's one I picked up on a whim some weeks ago. A case where the absurd Ethereum fees actually helped me as I was going to sell during that accumulation, before Kucoin listing, but the fee at the time to sell was over $500 so I decided to hold on. Lucky I did as price has pumped significantly from the bottom.

Uno is an insurance platform for insurance providers and allows users to trade this risk which is apparently a big market in the traditional trading world. I was intrigued by the backers which include both KuCoin as well as OKEx. So we could assume an OKEx listing as well at some point.

The chart also looks nice and we are currently correcting the big move up from the lows. The blue box is also a previous resistance area from an earlier distribution phase and below that at ~0.45$ is the lower bound/support of that area.

Assuming BTC does not collapse, I do expect this blue box to hold as support and for price to continue upwards. Big assumption for now, so better keep your eyes on BTC.

Still a lowcap with under 7 million coins in circulation. First unlock has been delayed so that circulation should be good for around 3 months from now. DYOR on that though as the unlocks are most likely significant.
Comment:
Exited at loss of .45 support.

Will see how things work out down the road, but I've seen these LP mining rewards damage price in the past as people earn quick rewards and sell.

Still interested in the project, but for now, will wait and see.

Comment:
Getting back in this one. I like having at least one super lowcap longshot with strong fundamentals.

Inflations from the LP mining program isn't that high. i believe there are currently 7 million tokens out there and 1st month of LP mining rewards is 150k. Half of the first month is done now, so hopefully the market turns bullish and these reward tokens can be absorbed.

Chart wise, price back in the channel after 3 consecutive bull divs. Certainly not out of the woods yet, but BTC may be turning the corner so getting back in at less than half my initial sell is ok for me.

Comment:
update

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.