While the overall Market is sleepy, only a few will make an attempt to break away
Let’s cover the Downside first. MDT has very low volume in comparison to anything in the T-25 coins by MCAP. The 24-Hour volume is up 2242% to $222M but the normal volume was somewhere between $5-15M over the last few months.
What is MDT?
From CMC –
Measurable Data Token (MDT) aims to provide a blockchain-based data economy, where data providers and data buyers can exchange data securely and anonymously.
The MDT ecosystem now features two products with real use cases:
MyMDT Data Wallet is a decentralized application based on Ethereum that allows users to get rewards for sharing anonymous data points. The application has been integrated with the following apps: MailTime, Magic Crystal, and Email Messenger.
Measurable AI, MDT’s data analytics branch, is an alternative data provider that turns anonymous transactional data into consumer insights serving financial institutions and corporates. The MDT token is an ERC-20 token, used as the medium of exchange for data product access and user reward programs.
The MDT team are based in Hong Kong and have been working together for over 10 years. Their first project Talkbox started in 2010 was adapted into a TV show and novel called “Entrepreneurial Age”.
In their roadmap, the team will be focusing on connecting more users and data providers to expand the scenarios in the ecosystem. They are also working on more new applications on Ethereum featuring data rewards for individual users.
Since the launch of MDT project in 2017, the team has been dedicated to make MDT the new standard for data sharing.
Coins ranked into the 500’s leave a lot of reason to be skeptical but the truth is, everyone has to start somewhere. Not every coin or project can be Bitcoin out of the gate. That being said, we would generally steer away from something like if the global market was in a healthy uptrend. Being that eh overall market is sideways or down – very few Long opportunities show up and when they do, traders are likely to hop in, creating a buzz around nothing.
The price action is fairly consistant as MDT has tested the 618 retrace, pulled back and is now testing the 786 retracement. Ideally, we want to see the 786 confirmed as support but there are speculative ways to enter something like this.
- Lower Risk
- Smaller Position Size
- High Timeframe Entries
We look for a retest of the high and a push to the 1.618 extension if MDT is to show significant support at the 786 or is able to spend a few days above the 618 with consistent volume.
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