News Bulletin — June 2021

Latest News in the Cryptocurrency and Investment World

Market overview

The important thing is we must take profits when we can and be more discerning in what we invest in. Investing in the latest batch of memecoins is not recommended. The winners have still not been decided. It is highly likely that in five years time bitcoin will no longer be the most valuable cryptocurrency and other chains will have taken over from Ethereum or at least be offering a viable alternative. The winners will be the ones which embrace mainstream adoption choosing to focus on easy to understand user interfaces. The average Joe is scared away by DEXs and the various DeFi apps doing the rounds. This will change as technology advances and as developers start listening to marketeers rather than the other way round.

The winners will be the projects that embrace the mass market. When aunt Polly can find her way round Uniswap without pulling out her hair that will be a strong indicator we have arrived. But in the meantime this is a great time to search for the projects that will make that breakthrough. They are still out there.

Market wisdom


Polygon (MATIC) bucks the downward trend

MATIC is the cryptocurrency that powers the Polygon network which provides a framework for building and connecting blockchains that are supported by Ethereum technology. It aims to provide a cheaper, more secure and streamlined solution for transactions conducted on the Ethereum blockchain. The network provides a side chain to the main Ethereum blockchain.

The Internet Computer (ICP) — Where the heck did that come from?

They claim to have reinvented the internet. Until May 10th 2021 the average crypto investor hadn’t even heard of ICP, four days later they had sped past most of the old guard and became the fourth most valuable cryptocurrency in the world. From nothing to nearly $90 billion, that figure is now down to some $10 billion. So what is the fuss all about? Here is how the team at ICP describes themselves:

“The Internet Computer is a blockchain project by the DFINITY Foundation which plans to extend the functionality of the public internet from a network that connects billions of people (via TCP/IP protocols) to a public compute platform that empowers millions of developers and entrepreneurs (via ICP protocol). The aim is to provide a revolutionary new way to build mass-market open internet services, pan-industry platforms, secure enterprise systems and websites, and DeFi, all without the need for legacy IT such as centralized cloud computing services, databases, and firewalls.”

Not exactly plain English but I think we get the point. This isn’t an overnight sensation with the project being under development for five years, attracting many of the top tier VCs such as Andreessen Horowitz and Polychain Capital. Whilst the founder announced, “We want people to abandon traditional IT and move all systems and services to smart contracts”, others were less optimistic calling ICP, ‘Centralized crap’.

Latest new issue trends

Dogecoin makes it to CoinBase

The hunt for moonshots

Five cryptocurrencies worth buying whilst the market slump continues


Shenanigans continue at Tether


In the world of cryptocurrency we seem afraid to ask the obvious questions. Our blind loyalty and belief sometimes clouds our judgement. If a property investment was offering annual fixed returns of 40% our first call would be to the police. But somehow we think that a cryptocurrency platform that offers a fixed annual return of 40% is not only sustantainible but its native currency deserves a value of $32 billion. I am of course talking about HEX who offer a 40% APY if you buy a crypto equivalent of a certificate of deposit.

Nexo isn’t the only one offering eye catching returns, the DEX Pancakeswap are offering around 0.25% per day and Polywhale 850% APY. Are we saying these are scams? Of course not. But we are saying to be very careful. When a new memecoin project appears on the scene and allows you to stake their currency for a 30% return you have to think to yourself where is this return coming from and are you able to sell your crypto asset to realize this return? Some of these newer staking memecoins are bound to be scams. If you are tempted by these oversize returns go with the projects with big volume and don’t commit to tie your money up for years where there is a large penalty for early withdrawal.

New from Inside Track

We have been busy finding you great content presented by leaders in their field. Our Inside Track library now numbers some 20 odd podcasts from crypto influencers talking about subjects as diverse as memecoins to taxation including DeFi, decentralized exchanges and IDOs. You name it, we cover it. Take a look at our current library here.

Our latest addition to our library over the last month include the following topics:

  • Crypto and Taxation
  • Get Protocol — Blockchain based ticketing
  • PlotX — Prediction markets
  • Memecoins — a general overview with an interview with a memecoin founder

Some other great projects you may be interested in include Yield App, NewsCrypto and Handshake.

These are bite sized discussions so don’t worry about having to set aside a whole afternoon…

Listen to Inside Track here



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Thank you for reading and for your continued support!

Team CryptoQuestion

Essential Risk Warnings

  • Our publications do not represent financial advice.
  • Discussion of a particular cryptocurrency does not constitute a recommendation to buy.
  • Always do your own research.
  • Seek independent financial advice.
  • Only invest what you can afford to lose.
  • Remember cryptocurrencies and in particular smaller cryptocurrencies are extremely volatile. You could lose 100% of your investment.

Not Financial Advice