A Risky Micro-Cap Crypto Play With Massive Upside Potential
I have previously featured the Ubix Network, as I believe there is still significant upside for this project. I managed to get in very early on UBX, so I am up about 50X (5000%) from my entry point. Investors who bought the top in April of this year are obviously not so happy about the current price. There is, however, hope for these peak buyers, which we will take a look at in a moment.
Although the market cap is not visible on CoinGecko, it is available on the official Ubix site. At the time of writing, the market cap is short of $31 million, which is still very much in the arena of a possible moonshot! I have noticed that the daily trading volume is increasing and generally ranges between $1 million and $2 million.
Today, the 24-hour trading volume is approximately $3 million. Other projects with similar market-cap allocations generally trade a couple hundred thousand dollars a day, giving UBX a bit of an edge in that arena.
How Ubix Daily Airdrops Work
The daily dividend or airdrop of 0.10% is also an important factor to consider for this project. This is a great return, especially if the token’s price increases exponentially. The team appears to be making progress and moving towards completing its roadmap.
The team has been working on this project for approximately 4 years and has taken each step meticulously. You can keep up to date with their progress via the official UBX Twitter account. Looking into the charts currently paints a rather encouraging picture.
Technical Analysis – Possible Double Bottom
One of my favorite bullish reversal patterns is a double bottom, otherwise known as a “W” pattern. Looking at UBX on the weekly chart suggests a massive double bottom could be forming. The current price of UBX is approaching the neckline of this pattern.
A confirmed breakout above the neckline could, in fact, signal the start of a very bullish rally. The UBX price is currently up 12% today at the time of writing. Completion of this pattern could see UBX rally by hundreds of percent and, hopefully, signal the attention of a broader spectrum of altcoin investors.
Understanding The Risks Of Investing In Micro-Cap Crypto Coins
Either way, my UBX position is ready, and thanks to a great entry point, my holdings are fairly safe in the event of an unexpected crash! Trading and investing in micro-caps such as the Ubix Network can be very rewarding, especially if the proposed scenario plays out.
However, projects of this size are always risky, and you need to acknowledge and understand them. Crypto is volatile, and many of these smaller projects don’t survive. Sometimes, even in survival, there are extended periods of significant loss before market legitimization.
Why Patience Is A Critical Part Of The Investment Process
I have a nice-sized bag of UBX, and so am quite happy to sit and wait for this pattern to hopefully play out. If prices move lower, I may increase these holdings in response to signs of a bullish reversal. Sometimes, one’s patience can be really tested with altcoins, especially micro-caps. Conviction is the key to surviving extended periods of waiting.
Final Thoughts
Ubix might suffer short-term to medium-term setbacks regarding market recognition. However, regardless of the price, there really is a project here. The team continues to build regardless of the market. Hopefully, recognition will eventually come, and UBX can move beyond the micro-cap realm. However, it will be a bit of a wait due to overall market conditions.
Unlike many other micro-cap projects, Ubix Network has a solid, working project spanning multiple blockchains, both public and private. At current levels, it’s worth a small speculative bet in my opinion. Catch you next time! All the best!
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