Categories
Beginner

Altcoin with 350%+ Gain Potential: Casper Network (CSPR)

This post will cover an altcoin that has the potential to see a 350%+ gain. That altcoin is CSPR, the token for the Casper Network. We’ll go through some fundamental analysis of Casper and look at some of the catalysts that may rapidly propel its price upward.

When investing in cryptocurrencies and altcoins, you have the ability to invest in projects at very early stages.

These investments are of course high risk, but also may have a very high reward.

This is similar to investing in startup companies before they go public.

Video Version

Prefer to watch a video covering this content?

Otherwise, read on.

Fundamental Analysis

In our Altcoin Fundamental Analysis Guide, you’ll learn how to analyze altcoin projects to determine their potential for long-term success. Being very strict on your criteria will likely shortlist a set of fairly mature coins. If you loosen your criteria, you can also introduce coins that are in earlier stages with higher risk profiles. But if these coins do deliver on their roadmaps, begin picking up users, and get listed on mainstream exchanges, you could see a tremendous price surge.

Casper Network

Casper is a Layer 1 network designed to be a smart-contract platform for enterprise applications. It was designed by Ethereum developers. The team believes they can build a better platform from the ground up rather than trying to improve first-generation blockchains.

Its goal is to provide these features:

  • Security
  • Programmability
  • Decentralization
  • Privacy
  • Scalability

While this may sound like Ethereum and other smart contract competitors, Casper seeks to provide all of these features without any compromises. That means high throughput and low cost, while still maintaining security and privacy.

Other networks make trade-offs between these features. For example, scalability may come at the cost of decentralization.

Casper is also specifically targeting enterprise blockchain adoption use cases, which means they’re making it efficient to integrate Casper into enterprise environments.

Developer Friendly

A key advantage it has for enterprise adoption is it supports WebAssembly languages instead of relying on a proprietary language. This means most professional software engineers can work with Casper without having to learn a new language.

Predictable Gas Fees

Businesses need dependable cost structures, which Casper helps provide. It features predictable gas fees, even during times of high network traffic.

Upgradeable

Casper is designed to allow upgrades, minimizing the need for migrations. This addresses their “future proof” claim and will allow Casper to rapidly evolve alongside businesses.

Account Management

Enterprise applications need to manage users and permissions. Employees change over time, so the ability to manage accounts and keys is critical.

Other Casper business fundamentals

The Casper White Paper was written in 2017. They’ve seen one round of funding and have held two validator token sales, totaling $40.4M.

After years of development and test, they launched its Casper Mainnet on March 31, 2021.

LinkedIn shows 84 employees, mostly based out of the US. Many employees have a strong background in blockchain technologies.

There are also two organizations dedicated to driving Casper adoption:

  1. The Casper Association, which is a nonprofit tasked with accelerating Casper adoption.
  2. DEVxDAO provides grants for developing on Casper.

Looking out at the community, discussions seem positive and supportive. There isn’t a lot of “buzz” surrounding Casper, but that seems to be because they are focused on development and enterprise-level discussions. They have not spent much time communicating with retail traders and investors. This can be a good thing, as they are effectively flying under the radar of most people.

There was a lawsuit filed on March 17, 2021 (box.com), but it is centered on the usage of the name “Casper” and doesn’t seem like it will fundamentally impact this project long-term.

Learn more about Casper

Video:

Website: https://casper.network/network

Competitive details: https://casper.network/docs/#why-choose-casper

White Paper: https://arxiv.org/pdf/2101.02159.pdf

CSPR Token

Casper operates on proof-of-stake, so its CSPR tokens are part of the validation workflow.

CSPR currently has a market cap of $344,000,000, putting it at a rank of 153.

CSPR is not listed broadly on mainstream exchanges yet.

CSPR Technical Analysis

CSPR has been fairly stagnant, spending most of its time between $0.10 to $0.15. Due to this limited history, applying traditional technical analysis tools provides little value. However, there are fairly strong support and resistance lines we can consider. Once it convincingly breaks above $0.30, it will be in largely greenfield territory.

Altcoin with 350%+ Gain Potential: Casper Network (CSPR) 1
Casper Significant Price Levels in Orange

Despite the flat price, its market cap has continued to grow in a steady manner. This means its overall valuation is going up.

Altcoin with 350%+ Gain Potential: Casper Network (CSPR) 2
Casper Market Cap Growth

Possible Triggers

Given its early stage, there are many reasons we could see Casper’s price rapidly escalate. Here are a few:

  • Mainstream exchange listing, such as Binance or Coinbase
  • Deployment with a large multi-national company
  • Additional funding rounds
  • Adoption and integration of meaningful apps

Possible Risks

As with any early-stage altcoin, there are these risks:

  • Listing removal from existing exchanges, making it extremely difficult to withdraw your funds
  • News of leadership fraud or deception
  • Failure to land corporate deals, causing the inability to service debt and meet obligations

As Casper is targeting enterprise adoption, it’s absolutely critical they begin demonstrating corporate adoption. Though they’ve landed some smaller companies and projects, as of yet, there is no evidence they have been able to capture enterprises in a meaningful way.

Because these types of investments are highly risky, you should truly follow the age-old advice of not investing any more than you are willing to lose.

Any of these events could cause an extreme drop in price, including going to zero.

CSPR Price Potential

CSPR is currently trading at $0.11.

Generally available in May of 2021.

Its all-time-high was $1.33, though it has spent most of its time around $0.12.

Based on the potential triggers, we could see it move to $0.50. This represents a 350%+ gain from current levels.

That would push it up to a $1 billion market cap, which is only 0.3% that of Ethereum.

On the way up, CSPR will likely see resistance at $0.18, $0.25, $0.30, and again at $0.50. Reevaluating at any of these points will help determine if you should maintain your investment or take profit.

How to Buy CSPR

Since this coin is still in its early stages, it is a bit difficult to buy. You’re generally only going to find it on smaller exchanges limited to certain geographies.

Exchanges

  • In the United States, Coinlist Pro offers CSPR and other early-adopter listings. US investors can also look at Uphold for Casper.
  • Outside of the US, there are more options available, namely Huobi Global and Gate.io.

Coinmarketcap.com provides up-to-date information on CSPR exchange listings:

Altcoin with 350%+ Gain Potential: Casper Network (CSPR) 3
Top 10 CSPR Exchanges as of January 17, 2022

Casper Wallet

Before utilizing any exchange, be sure to do your own due diligence on that exchange.

Once you have the CSPR token, you can move it to CasperLabs Signer wallet or your Ledger wallet. How to create a Casper Wallet (docs.casperstats.io/).

Conclusion

If Casper delivers on its plans and lands meaningful enterprise deals, it could see fast growth. It is built on a strong set of technologies and seems to have a solid team.

This is, however, an early, high-risk asset that may fail entirely. Consider your own personal risk tolerance and ensure you do your own analysis.

What do you think of the Casper Network and its chances for success? Let us know in the comments below.

About Crypto-ML

Crypto-ML provides machine learning for crypto traders and investors. Gain crystal-clear signals and deep market insights. Add predictive capabilities to your toolbox. Learn more and join for free.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Add predictive capabilities to your crypto investing.Join Crypto-ML for Free