The Crypto That I've Fallen Out of Love With

The longer you are in the cryptocurrency market, you will see many projects come and go. Some great crypto projects that you believe have the potential to truly do something special. And then some that you’ll think have no chance of surviving. You’ll find opportunities that you believe could transform your portfolio and maybe even potentially make you rich.

Whatever your reason is for investing in certain crypto projects, there is one thing that is a certainty. Over time you will fall out of love with some projects that you have invested in and will need to eliminate them from your portfolio. Perhaps they never delivered on the initial potential that you saw in the project. Or maybe development was too stagnant and you wanted to put your money into faster-moving horses. And then maybe you just found a project that you liked more. Whatever the reason, you’ll likely find yourself in this situation countless times over your crypto journey.

This is my story. Today I will be sharing some of the crypto that I had in my portfolio during the last cycle. All of these have been eliminated from my portfolio. Some of them provided me with great gains. Some of them showed me things that made me concerned about the project. And for some of them, I just preferred to divert my funds toward other projects I was more passionate about. Keep in mind that just because I sold out of these positions doesn’t mean that I don’t like the project. In fact, at one point I was a big fan of them and would love to see them have success in the future. I have made my money in crypto and now my focus is to invest in the projects that I’m most passionate about. It makes the process of keeping up with my investments and this industry a whole lot more exciting. Which in the end has been the most beneficial factor determining my success. If you like these coins that’s great and it is always interesting to see how other people’s crypto portfolios can vary.

Without further delay, let’s talk about the crypto that I eliminated from my portfolio during this last cycle.

Solana

When Solana initially launched, I was very interested in its tech and thought it had great potential. That interest of mine in it paid off well when its price soared over $250. But then the blockchain kept going down time after time. In my opinion, the one thing that a blockchain must have is dependability. And so I lost confidence in the project and decided to sell out of my position last year.

Turns out, I had very good timing with this move. Ever since then, the price has been moving down only. While a large amount of that can be attributed to the onset of the bear market beginning. A lot of the blame can be given to its connection with Alameda and FTX. Arguably, its price would have never reached such a high level without having such a big backer. This also means that it will have a much more difficult path ahead to reach those levels again. With rumors of FTX/Alameda still having exorbitant amounts of SOL to sell. We could likely see the price drop even further. Upon selling, I traded my SOL for more Bitcoin and Ethereum.

Cardano

Cardano was another crypto that was very kind to me during the last cycle. I bought it at a price of $0.03 and saw it rise significantly. At one point I was feeling negative about Ethereum potentially never being able to merge and I thought of Cardano as my backup insurance. As time passed, Ethereum’s slow development finally began to deliver some results and it looked more likely that the merge would finally take place and be successful. At the same time, ADA development was moving along similar comparable to the early days of ETH. The future of Cardano could be great, but I didn’t want to go through that process again. Especially with Cardano’s price being so high at the time that I decided to take profits and sell.

Last year I moved all of my ADA into ETH and have never regretted it. Ethereum’s ecosystem had grown to a point where I think it will be difficult for other projects to overtake it. Perhaps having a niche in the market only.

Polkadot

This is a tricky situation because I actually do still own a portion of Polkadot, but have cut 90% of my previous holdings from my portfolio. Leading up to its launch, I was extremely bullish on Polkadot and thought that it had the chance to be the next big thing. It still could, which is why I still hold on to a portion of it.

For Polkadot, everything was leading up to parachains being launched on the blockchain. It was the killer feature of the blockchain, and also would take millions of DOT out of circulation, which was going to help its price. Parachains launched at potentially the worst possible time. The peak of the market last November didn’t make the noise that we all thought it would. Since then DOT’s price has been one of the worst-hit projects in crypto, with most of the hype around it gone. As time went on, the lack of news or even excitement surrounding Polkadot is what made me decide to sell a large portion of my DOT for more Bitcoin.

Even with that said, DOT is consistently ranked near the top of crypto projects having the most active developers and that gives it a lot of potential. We just need to wait for the results from all of that development to begin streaming in. Which is why I still keep a small bag of DOT.

Those are the three most recent cryptocurrencies that I have eliminated or significantly lowered my position in. As I said before, at one time I was a big fan of each of these projects and would still love to see each of them become successful. I just personally like investing in the projects that I’m the most passionate about. There is only so much time and money to go around.

How about you? Which cryptocurrencies have you recently eliminated from your portfolio?

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