The crypto space needs a platform that provides analysis of the altcoin market, which has been unstable since the year began. As a result, the Altcoin Fear and Greed Index, a platform that provides investors with a key tool on sentiment, is set to launch its token.
The platform issued a tweet that clarified its plans and the reason for going fully operational. As per the tweet, the Fear and Greed Index platform noted that the token presale is scheduled for February 14th. The token name is tagged “ Altcoin Fear and Greed Index” and represented by the “ AFGI.” Altcoin Fear and Greed intends to launch its token on BSC with an initial presale price of 0.001 USD. Furthermore, the token will have a total supply of 1 000 000 000 and an initial market cap of 1 000 000 USD.
According to the tweet, a huge part of the presale funds would provide liquidity on Pancakeswap. In addition, the team would spend a part on marketing, team development, and software-hardware infrastructure. Another part would go to providing work functionality and funding roadmap tasks.
40% for liquidity
30% for marketing
20% for development
10% for functioning and roadmap tasks
— Altcoin Fear and Greed Index (@AltcoinFGI) February 2, 2022
About The Team
The Altcoin Fear and Greed Index team is currently composed of 18 people working on altcoin indexing. According to the platform, it plans to become a key player in the altcoin indexing market. Furthermore, the team currently includes different experts. It includes traders, analysts, software developers, and data analysts.
Fear and Greed Needs Awareness
While the team confessed that it was at the start of a long and difficult journey, it admitted that the competition in the altcoin indexing market is weak. This gives it the chance to have a great influence on the market. In one of its tweets, the team hinted that the demand for its service was not yet high. This is a result of the lack of awareness of the existence of altcoin indexing services. However, with more publicity, more projects will embrace altcoin fear and greed indexing to make smarter decisions.
The Altcoin Fear and Greed Index also anticipates a huge following and fan base in the coming months. It wrote, “ we also can expect an increased number of visits to our account and thus an increased number of followers and awareness related to our team and us as a community.”
The AFGI team has a robust social media presence. According to the team, it has posted over 14,000 tweets alongside steady updates. Furthermore, the team covers the top 100 altcoins and frequently analyzes each altcoin as much as 10 times daily. Judging by this engagement, the platform expects its user base to increase exponentially.
[Editor’s Note: Here at Altcoin Buzz, we never recommend projects that don’t have a website. And as always, you need to DYOR. However, given these current market conditions, if you think understanding market sentiment is important then you should know about this tool and decide if buying the token is right for you. Again, DYOR before buying any token.]
Plans for the Future
Altcoin Fear and Greed Index plans to make a series of changes on its platform. Furthermore, it plans to take things a notch higher and process the top 200 altcoins. However, it would have to expand its current team size to do this. In addition, there are plans to list the token launch on Coinmarketcap and other services. However, cash and the lack of a community constrain it. However, the team would analyze its current position and decide the good step to take.
The team is optimistic about this project, calling it a long-term project. It wrote, “ We think that this is a long-term project and it takes a lot of time, work and patience for most of the plans to be potentially realized.”
Also, the Fear and Greed Index team warned that investing a lot of funds in cryptocurrencies could be risky. As a result, it asked potential whales not to buy a lot of tokens during the presale. This would prevent a possible price dump when it opens a public sale on Pancakeswap or if the token skyrockets at a price.
After listing its current plans, the team left the ball in the courts of potential investors. Despite their lack of community and finance, the project believes it deserves a chance to change the market.
but it is up to you as investors to recognize the real and quality team, small and without a lot of resources but open and honest in their intentions, and a team that really has the ambition to do the best they can to realize their long-term plans.
— Altcoin Fear and Greed Index (@AltcoinFGI) February 3, 2022
The Need for Sentimental Analysis
The altcoin market needs sentimental analysis to help investors make informed decisions. Especially in a market filled with ups and downs, there is a need to get it right with investment. Traders need to know when to buy and when to sell. The fear and greed index uses numbers to represent the market’s condition.
Warren Buffett has one of the greatest lines about fear and greed in the wider financial market. He said: “Be fearful when others are greedy and greedy when others are fearful.” The Fear and Greed Index measures the two emotions that drive investors. These investors sell when the market shows fear to avoid losses. However, that could sometimes not be a good choice to make—the Fear and Greed Index tries to save investors from their own fears and greed.
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