Dear readers,
Like a year ago I stumbled upon this coin called Veltor. I did not want to invest in it, because the developer team was anonymous and there were no ICO-funds to pay for development.
Still, It became rather popular and increased in value rapidly. The goal of the development team was to create a far more lightweight blockchain compared to that of Bitcoin.
But Veltor was just a mineable coin and, as I explained, the founders did not organize any development funds. So then, all of a sudden they announced that they were planning an ICO. Everyone who was holding Veltor could swap their tokens for a new coin: Alvalor. But the community got very angry because they were only promised 5% of the new Alvalor Tokens.
The price of Veltor crashed by like 98%. That was like 7 months ago I guess.
The team decided to quit the whole anonymity thing and they made themselves public. Turned out that these guys are pretty legit, based in Switzerland (currently Luxemburg) and their plans are also good (it's basically an improved version of Veltor that already used to be valued pretty high).
The team published updates regularly (https://medium.com/alvalor) and they are very active on Telegram. The community is still pretty small though.
I think there is big potential in Veltor, because:
- The team is legit
- The Idea is good
- They increased the allocation percentage from 5% to 10% and yesterday they announced they will increase to 20% for Veltor holders.
The coin is only trading on Yobit and liquidity is very low. That is always kind of crap, but it also means that there is not much capital required to make it rise as we are quickly approaching the swap period. The team has announced that they expect that Veltor holders can swap their new ERC20 Alvalor tokens.
So I think Veltor/Alvalor has a lot of potential because it really got pushed to the background. However, this is also one of my riskiest investments, normally I only invest in coins that have more ICO-funds than market cap (My view is that people who sell a coin that has double the amount of ICO-funds compared to market cap are really dumb).
Because it is only traded on Yobit it means that there is like hardly any volume, that's kind of a risk.
Just wanted to share. Happy trading!
Thank you for this history lesson on this matter. I was wondering why they were trying to get me to swap my coin. I now know what to do thanks to you. Mahalo
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