Read the disclaimer before you proceed
An advertising platform running on the Ethereum network, which is going to utilize smart contracts and blockchain technology to offer publishers and advertisers the chance to interact in a very user-friendly, open and effective way. Claims to solve about 10 problems of traditional advertising. Primarily focused on video advertising but doesn’t exclude the possibility of expanding operations. Claims to have a better adoption opportunity than other similar, more narrowly-niched projects such as BAT (Basic attention token). Association with Jihan Wu and Wings project is favorable. The advertisement market is huge. Long-term potential is good.
According to the Roadmap (next big event as early as Feb 2018) It is a long-term hold (at least 12-18 months) but has potential to multiply in value, now that the spike has settled down and price is back to normal. Maybe we should wait for a bit for the price to find another support level, before considering buying. Not enough high-risk, high-reward for me. Who knows what can happen to cryptocurrencies by then, and if we are in a bubble, would it have bursted by then. But it looks like a good investment for more conservative (in terms of risk/reward ratio) investors that aren’t worried about bubbles bursting.
I don’t see any current problems with the coin, functionality or the reputation of the team, so I don’t see a buying opportunities in terms of the coin being undervalued because of problems related to it.
As of this writing, 11th of August 2017, AdEx (15400 satoshi) caught my eye as we are in the aftermath of its explosion in price, and also after someone mentioned that it was a Bulgarian cryptocurrency (this is my country) I promise, I won’t pay any favors to the crypto, just because we are from the same country – my objective is to always be objective about my reports.
So, is it too late to hop on the train, or is there leeway for more spikes and even steady growth, and what caused the spike? Let’s dive into it.
- Website: Does it look good/presentable – Looks clean and professional. Very open, presents all the information that one would expect from it.
- Website: Does it have a roadmap for the cryptocurrency development – There is a very laconic/vague timeline on their website, the project seems to be in its planning or initial development stage, as there is nothing more concrete than this:
The whitepaper has a much more detailed roadmap that outlines several big stages, distributed in 6 month periods up to some time in 2019
- Website: Does it have a whitepaper – Yes, a professionally written one https://tokens.adex.network/adex/AdEx-Whitepaper-v1.4.pdf
- Website: Is the domain name and TLC good – I don’t like these dodgy TLDs such as “.network”, “.online”
- Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – Nothing extraordinary, but a good presentable job, can’t tell if its a wordpress template or a custom design. Looks standard.
- What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for – decentralized, blockchain based ad network utilizing ethereum contracts, solving about 10 problems with traditional ad networks, described in the whitepaper. (I encourage you to read it if you are into online advertising)
- How does the cryptocurrency name sound (does it sound legit and like a good brand name) It sounds good and conveys the purpose of the coin with just 4 characters
- Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – Looks pre-mined.
- Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – A big team of professionals with lots of experience. Several figures from the cryptoworld that some of us will recognize. Linkedin profiles included. Looking trustworthy.
- What is the limit on supply of coins in circulation – 100 million limit, with 40 million currently in circulation, some of which are frozen
- Is there a link to the source code – https://github.com/AdExBlockchain
- When was the last commit made, and how frequent are commit – within the last 24 hours, commits are frequent – active development
- How many developers participate in the coding – 2-3 people, according to their website.
- ICO – Sold out within a day (I think 8 hours). 40 000 ETH
Exchanges and trading
- Which exchanges (and how reputable they are) is the coin traded on, what is the daily trading volume and market cap – market cap is 23 million USD and the daily volume today (when it exploded) is 18 million USD
- Are there buy (support) or sell (resistance) walls – looking at Bittrex, nothing worth mentioning. Price can go either way, although after this spike it might take some time for it to pick up again.
- How does the chart look – no action for some time, followed by an explosion today. We will try to find what caused it later on in this report.
- Does the chart contain patterns that look like pump and dump actions or trading by bots – no evident patterns of anything, unless the spike was a Pump and dump. We will see
- Has the coin spiked on one exchange after being added on another exchange – I don’t think so
- Is there a Bitcointalk forum Announcement thread – yes https://bitcointalk.org/index.php?topic=1965467.0
- How many pages is it- 56 pages in two months.
- What is the impression of the general topic of discussion there (are there constructive conversations about the use of the crypto or trading it on one hand, or shouts about scam or pump and dump or other worrying stuff) – Went through all 56 pages. Overall sentiment is predominantly good. Most people think this is a good, solid, promising project. Initially lots of bounty hunters reserved their participation for the bounty rewards. People were optimistic about the ICO, then were impressed at how fast it went. The AdEx team actively participates in the thread. At some point bounty hunters started dumping their reward – apparently this is a moment to watch out for cryptos that offer bounties. Some days after the ICO, people were dissatisfied with the price going down. This post is worthy of investigating and considering: “, it is getting more rational to buy tokens after ICO dump than to participate in the ICO” Latest post is from two weeks ago?
- Is there a slack channel – apparently there is, or there was, but I couldn’t find a working invite or a link
- How many members in the slack channel – N/A
- What is the public sentiment in the slack channel – N/A
- Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers yes, several updates per month, 4400+https://twitter.com/AdEx_Network
- Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – 1600+ followers https://www.facebook.com/AdExNetwork/
- Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – no. No buying opportunity here. Not undervalued.
- Is there an active development for fixes on the way – active development on the first prototype.
- Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – no
Popularity and perception
- What does a quick google search tell us about the coin – informational links, listings, announcement threads, a couple of articles about the project. At the end of the first google page of results, and into most of the second, the results start getting irrelevant, because they are for other enterprises or things using the same name.
- Filter google search by recency or for “news”- what are the latest news on the coin? – an ecstatic article about the 220% price increase, some other news articles about the coin in general, and other non-related to our AdEx, news articles
- Are there youtube videos about the coin – couldn’t find any
- What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – N/A
- Is the coin associated with illegal/criminal activity or the dark web – Not at all
- Similar cryptocurrencies/projects – BAT
- Reason for the spike – a person on Facebook suggests its this article https://medium.com/the-adex-blog/presenting-the-adex-core-cb68caf08e12
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