Hey Friends!
I believe that Aeon (AEON) has upside potential since it is often referred to as the “younger brother” of Monero (XMR), but remains extremely cheap in our opinion. Aeon is only about $0.19 USD, with a market capitalization of only $3.1 million USD, based on a supply of about 15.8 million coins at the time of this writing.
Like Monero, Aeon also passes another fundamental test which I consider to be important to the long term success of any cryptocurrency which could gain trust to be used as sound money, and gain widespread usage and adoption. It was announced openly through a fair launch, without a pre-mine, stealth-mine, developer tax, or ICO. These are examples of characteristics which smart cryptocurrency investors, including several crypto hedge funds, often view as “shady” and thus disqualify crypto assets from significant investment capital inflows.
Therefore, AEON arguably does a better job of respecting the honest free market (with no “shady business”) and therefore its holdings are more likely to be fairly distributed than to be
centrally held among a select few insiders who would sacrifice the quality of development for an easy profit. As an open source project set up in this principled way, AEON is much more likely to attract more idealistic developers and enthusiasts who are committed to developing a pure, quality cryptocurrency that is free from corruption. As such, it is perceived by many astute investors as less “scammy” in that sense.
In regards to its technology, Aeon is built from the same CryptoNote codebase as Monero, and shares many of the same features; however, some of the areas where it differs include: privacy by default, with an option for transparent transactions (for lightweight, faster, cheaper, non-sensitive payments), additional blockchain pruning features (for improved full-node scalability), faster sync times due to 4-minute blocks (in contrast with Monero’s 2-minute blocks), and a lighter, faster proof-of-work algorithm (CryptoNight-Lite). Aeon’s CryptoNight-Lite algorithm runs faster than Monero’s original CryptoNight algorithm, which results in faster times for full nodes to sync and verify the blockchain data.
Essentially, Aeon “seeks to be a lightweight-Monero, similar to how Litecoin seeks to be a lightweight-Bitcoin”, according to the project’s official website. It shares a core developer with the Monero Project, namely “smooth”, who contributes to both projects. Aeon is also considered by some to be the strongest coin to compete with Monero. Therefore, we believe that since Monero is a much larger coin with the greatest network effect in the CryptoNote arena, with much greater hash power, and a greater number of highly skilled developers, Aeon is unlikely to overtake Monero’s position.
Nevertheless, Aeon is still actively developed and has passed several important fundamental tests that we believe the majority of people have overlooked. Aeon recently released their latest software upgrade in mid-March 2019, which includes some reliability, security, and performance improvements.
In recent news, Aeon will also be the first CryptoNote coin to adopt a SHA-3 variant, the Kangaroo Twelve (K12) Proof of Work (PoW) hashing algorithm. This is good for marketing, and is likely to increase adoption from early investors seeking to be the first ones in on this technological integration.
Since Aeon has made some useful adjustments and innovations to Monero’s code, and shares many of the baseline features which made Monero uniquely useful, we believe that it should attain at least a certain fraction of Monero’s market share. For illustrative purposes, I’ll say 5%, since Litecoin’s market cap is currently about 5% of Bitcoin’s market capitalization.
Since Aeon is so small in comparison to Monero (with AEON at about $3.1 million market cap vs. XMR at about $943 million market cap), I see a strong possibility of AEON growing significantly in the next altcoin bull market.
For example, some of the early cryptocurrency traders remember how Litecoin rose from under $1.20 to over $48 in three months during the altcoin bull market in late 2013 (over 40x gains). I personally see AEON as a similar trading opportunity.
If AEON were to suddenly reach 5% of XMR’s current market cap today, that would imply a new AEON market cap of over $47 million, with an increase of over 15x the current price (about $2.86 per AEON). Remember also that Monero itself has massive upside, and that I believe it to be significantly undervalued as well, for reasons which we have explained in previous posts and linked below. This therefore adds exponentially more potential hidden upside to AEON (more risky, but potentially more rewarding).
If you are interested in trading AEON, I recommend using Bittrex, TradeOgre, or Bisq. Bisq is best for maximum decentralization, anonymity, and privacy, especially if you don’t want to give up your personal information to any centralized exchanges through KYC/AML. Bittrex currently has the most liquidity at the time of this writing.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach
Owner, Modern Wealth Management
www.CryptoWealthCoach.com/VIP
I believe that Aeon (AEON) has upside potential since it is often referred to as the “younger brother” of Monero (XMR), but remains extremely cheap in our opinion. Aeon is only about $0.19 USD, with a market capitalization of only $3.1 million USD, based on a supply of about 15.8 million coins at the time of this writing.
Like Monero, Aeon also passes another fundamental test which I consider to be important to the long term success of any cryptocurrency which could gain trust to be used as sound money, and gain widespread usage and adoption. It was announced openly through a fair launch, without a pre-mine, stealth-mine, developer tax, or ICO. These are examples of characteristics which smart cryptocurrency investors, including several crypto hedge funds, often view as “shady” and thus disqualify crypto assets from significant investment capital inflows.
Therefore, AEON arguably does a better job of respecting the honest free market (with no “shady business”) and therefore its holdings are more likely to be fairly distributed than to be
centrally held among a select few insiders who would sacrifice the quality of development for an easy profit. As an open source project set up in this principled way, AEON is much more likely to attract more idealistic developers and enthusiasts who are committed to developing a pure, quality cryptocurrency that is free from corruption. As such, it is perceived by many astute investors as less “scammy” in that sense.
In regards to its technology, Aeon is built from the same CryptoNote codebase as Monero, and shares many of the same features; however, some of the areas where it differs include: privacy by default, with an option for transparent transactions (for lightweight, faster, cheaper, non-sensitive payments), additional blockchain pruning features (for improved full-node scalability), faster sync times due to 4-minute blocks (in contrast with Monero’s 2-minute blocks), and a lighter, faster proof-of-work algorithm (CryptoNight-Lite). Aeon’s CryptoNight-Lite algorithm runs faster than Monero’s original CryptoNight algorithm, which results in faster times for full nodes to sync and verify the blockchain data.
Essentially, Aeon “seeks to be a lightweight-Monero, similar to how Litecoin seeks to be a lightweight-Bitcoin”, according to the project’s official website. It shares a core developer with the Monero Project, namely “smooth”, who contributes to both projects. Aeon is also considered by some to be the strongest coin to compete with Monero. Therefore, we believe that since Monero is a much larger coin with the greatest network effect in the CryptoNote arena, with much greater hash power, and a greater number of highly skilled developers, Aeon is unlikely to overtake Monero’s position.
Nevertheless, Aeon is still actively developed and has passed several important fundamental tests that we believe the majority of people have overlooked. Aeon recently released their latest software upgrade in mid-March 2019, which includes some reliability, security, and performance improvements.
In recent news, Aeon will also be the first CryptoNote coin to adopt a SHA-3 variant, the Kangaroo Twelve (K12) Proof of Work (PoW) hashing algorithm. This is good for marketing, and is likely to increase adoption from early investors seeking to be the first ones in on this technological integration.
Since Aeon has made some useful adjustments and innovations to Monero’s code, and shares many of the baseline features which made Monero uniquely useful, we believe that it should attain at least a certain fraction of Monero’s market share. For illustrative purposes, I’ll say 5%, since Litecoin’s market cap is currently about 5% of Bitcoin’s market capitalization.
Since Aeon is so small in comparison to Monero (with AEON at about $3.1 million market cap vs. XMR at about $943 million market cap), I see a strong possibility of AEON growing significantly in the next altcoin bull market.
For example, some of the early cryptocurrency traders remember how Litecoin rose from under $1.20 to over $48 in three months during the altcoin bull market in late 2013 (over 40x gains). I personally see AEON as a similar trading opportunity.
If AEON were to suddenly reach 5% of XMR’s current market cap today, that would imply a new AEON market cap of over $47 million, with an increase of over 15x the current price (about $2.86 per AEON). Remember also that Monero itself has massive upside, and that I believe it to be significantly undervalued as well, for reasons which we have explained in previous posts and linked below. This therefore adds exponentially more potential hidden upside to AEON (more risky, but potentially more rewarding).
If you are interested in trading AEON, I recommend using Bittrex, TradeOgre, or Bisq. Bisq is best for maximum decentralization, anonymity, and privacy, especially if you don’t want to give up your personal information to any centralized exchanges through KYC/AML. Bittrex currently has the most liquidity at the time of this writing.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach
Owner, Modern Wealth Management
www.CryptoWealthCoach.com/VIP
