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Should You Invest In WINk (WIN) In 2021 And Beyond?

Should You Invest In WINk (WIN) In 2021 And Beyond?
Should You Invest In WINk (WIN) In 2021 And Beyond?

Belgium (CoinChapter.com): Many cryptocurrency enthusiasts show excitement toward WIN, the native currency of the WINk project. As most of the positivity pertains to the price, now is an excellent time to look beyond those numbers. After all, a cryptocurrency is only worth investing in to provide a viable infrastructure and long-term vision. 

A Brief WINk Introduction

WINk – formerly known as TRONbet – is a gaming platform with cross-chain support for those unfamiliar with the platform. Players can explore games, socialize, and stake assets across different blockchain ecosystems. Built on the TRON blockchain WINk benefits from fast transaction speeds and much lower transaction fees than most ecosystems. 

The e-gaming platform has, according to DAppRader, a user base of over 4,600 players, who generated $24.03 million in transaction volume last week. Additionally, the ecosystem has a balance of $1.05 million, equal to 8.1 million TRX. The transactions have been on the decline as of late, yet the user base and volume continue to grow slowly. 

Price Action Triggers Excitement

The past year is a bit unusual for WINk’s WIN token, at least in the price department. Very little had happened until late February of 2021 when the price suddenly started moving up. That uptrend culminated in a price peak of $0.00268112 on April 6th, although most of the momentum ebbed away since. Even so, WIN notes a 1,859% price increase over the past year, which is more than acceptable. 

WIN, Should You Invest In WINk (WIN) In 2021 And Beyond?
Source: CoinGecko

That being said, one has to wonder if the WIN price momentum is petering out. Although the asset notes a near 20% gain today, it is down by 24% in the past week. Such a dip can occur at any time, yet it seems oddly timed, as other markets have shown plenty of bullish momentum. For those who contemplate investing in this token, now is an opportune time to look at the broader ecosystem. Investing blindly always carries risk, and it is better to make well-informed decisions.

One of the benefits of WIN is how it lets users stake the asset to earn other tokens. More specifically, users who “lock” their WINk assets on the blockchain are eligible for different TRON token currencies and rewards via the “Windrops” pool. Eligible stakers will earn TRX based on their amount of Win Power accrued from staking the WIN asset. This appears like a good way to acquire more TRX, although opinions may be divided on that front. 

One way to stake WIN is through the native WINk platform. It is a convenient way of providing this functionality to more people looking to collect TRX, USDT, and BTT rewards. As is often the case with Proof-of-Stake, no one should expect to get rich quickly, as these rewards will roll out gradually. It merely provides a potentially worthwhile option to those who want to dive deeper into the WINk ecosystem.

Long-Term WIN Outlook Remains Uncertain

Investors and speculators need to look beyond the current price performance and staking rewards. Every crypto asset needs a long-term ecosystem to succeed. As WINk positions itself as a gambling and gaming platform, there is always room for future potential. However, the crypto gambling space is very crowded, and standing out will prove challenging. WINk still notes active growth across the number of users, volume, and transactions, which seems promising. 

Whether gaming and gambling alone are sufficient to warrant ongoing growth is a different matter. At this time, the team has not revealed any real roadmap for the future, leaving many questions unanswered. Growing and advancing the ecosystem will require a dedicated approach by the developers, yet no details have been made available. Some transparency in this regard is direly needed. 

Another crucial factor is community support. Per LunarCRUSH, there is a strong social volume and engagement over the past three months. However, the majority of this sentiment pertains to the recent price action, skewing the metrics somewhat. The majority of users remain bullish on WIN for now, but there is also a 131% increase in bearish sentiment. For those who only care about the price, it paints a somewhat bleak outlook. 

WIN, Should You Invest In WINk (WIN) In 2021 And Beyond?
Source: LunarCRUSH

One thing WIN and WINK clearly lack is active volume across Medium, YouTube, and news sites. It is impossible to grow an audience without spreading the word or making headlines. It can be challenging for projects to gain any traction across these platforms, although it also indicates a certain lack of community engagement. That may not bode well for the future of this TRON-based project. 

Closing Thoughts

Depending on which metrics one wants to look at, WINk and WIN are either in a good place or caught between excitement and disinterest. Price-wise, everything is still in order, although the long-term trading trend had turned bearish a while ago. As WIN is now down by 43.4% from its all-time high, the coming days and weeks will prove crucial to speculators and traders.

The other facet is the seeming lack of any long-term vision. Positioning itself as a gaming and gambling platform works in the short-term but will require innovation and news to keep people engaged and attract newcomers. So far, WINk has not fulfilled its promises on that front. A solid roadmap for the future can alleviate these concerns, but it remains unclear if that will ever be presented. 

Photo by Miikka Luotio on Unsplash

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JP Buntinx_CoinChapter
Jean-Pierre Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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