Haven XHV. Contrarian short-term bullish trade, longer term HODL
Haven XHV is proof-of-work based coin mined using the Crytonight Haven algorithm and is based on Monero codebase.
It is traded on Kucoin, Bittrex, and Tradeogre, amongst others.
It has been around since January 2018, was originally started by two developers who left the project and handed it off to the Haven community.
The basic premise behind Haven is that the XHV token and Haven protocol is that it is a 100% private "offshore bank." The Haven XHV token has a default circulating supply just under 15 million coins, although this supply is subject to the "mint and burn" mechanism that is integral to the project's functionality. The critical component of Haven's functionality is the "Haven Vault," where users are able to mint "xAssets" within their vaults (which users, "Havenites" refer to as "offshoring.") xAssets include synthetic gold, silver, USD, and several other currencies (e.g., xAU, xAG, xUSD, etc).
Unfortunately, the Haven code was successfully exploited in June of 2021 (detailed here havenprotocol.medium...xploits-6f4573fbf216), and the coin dumped from a high of 28 dollars to the low single digits. The coin's value has since slowly recovered, particularly as details of the Haven Team's plan to upgrade the code and fix the issue with the exploit have come out. The community has rallied, the Haven team has hired several Monero specialists and an audit team who specializes in Monero code to audit and fix the codebase, and apparently the Haven 2.0 fork announcement now appears to be only days away.
If you take both the fundamental and technical analysis together, I believe that Haven is highly likely to be a fantastic and even particularly contrarian short-term swing trade (e.g., executed over the coming 2-4 weeks at most) but also is a longer-term assymetric opportunity as well. Re. the short-term swing trade side of things, I believe that this coin could see a 60-70% increase very quickly after the fork is announced.
Over the longer term, both due to the point we are in the larger crypto market cycle, the deflationary dynamics built into the Haven "mint and burn" mechanism, and the killer privacy and store of value use cases of the protocol, this coin can easily go beyond it's previous ATH of 28 dollars.
It is traded on Kucoin, Bittrex, and Tradeogre, amongst others.
It has been around since January 2018, was originally started by two developers who left the project and handed it off to the Haven community.
The basic premise behind Haven is that the XHV token and Haven protocol is that it is a 100% private "offshore bank." The Haven XHV token has a default circulating supply just under 15 million coins, although this supply is subject to the "mint and burn" mechanism that is integral to the project's functionality. The critical component of Haven's functionality is the "Haven Vault," where users are able to mint "xAssets" within their vaults (which users, "Havenites" refer to as "offshoring.") xAssets include synthetic gold, silver, USD, and several other currencies (e.g., xAU, xAG, xUSD, etc).
Unfortunately, the Haven code was successfully exploited in June of 2021 (detailed here havenprotocol.medium...xploits-6f4573fbf216), and the coin dumped from a high of 28 dollars to the low single digits. The coin's value has since slowly recovered, particularly as details of the Haven Team's plan to upgrade the code and fix the issue with the exploit have come out. The community has rallied, the Haven team has hired several Monero specialists and an audit team who specializes in Monero code to audit and fix the codebase, and apparently the Haven 2.0 fork announcement now appears to be only days away.
If you take both the fundamental and technical analysis together, I believe that Haven is highly likely to be a fantastic and even particularly contrarian short-term swing trade (e.g., executed over the coming 2-4 weeks at most) but also is a longer-term assymetric opportunity as well. Re. the short-term swing trade side of things, I believe that this coin could see a 60-70% increase very quickly after the fork is announced.
Over the longer term, both due to the point we are in the larger crypto market cycle, the deflationary dynamics built into the Haven "mint and burn" mechanism, and the killer privacy and store of value use cases of the protocol, this coin can easily go beyond it's previous ATH of 28 dollars.
Trade closed: target reached:
Target reached. Congrats to anyone who traded.
I am continuing to HODL through the fork.
I am continuing to HODL through the fork.