Saturna Crypto: How Many Moonshots Does This New Coin Have in It?
The Saturna crypto coin is garnering a lot of attention for such a new token. Launched in May 2021, it was one of (if not the) fastest-growing tokens on the Binance Smart Chain to date. It hit a $10 million market cap and had more than 5,000 holders in its first day of existence. And it eclipsed 40,000 holders in the first week. So has Saturna already run its course?
When a new crypto pops, the big question is always “Is it a rug-pull?” When a coin spikes in value and adoption, it grabs a lot of attention. That can be enough to convince more and more folks to try to get in on the action… Before they miss out on the next big thing (FOMO is real – especially in the investing world). Once enough folks decide to throw some money at it, the creators can withdraw everything from the liquidity pool and drive the coin’s value to zero.
And it’s natural to be skeptical. This happens a fair amount with new coins trading on decentralized exchanges (DEXs). Because it’s pretty easy to set up. And it’s practically free.
Coins can often be listed on a DEX for free. And there isn’t usually an audit required to get a new coin listed. This is why it can pay off to be cautious when investing in any crypto not listed on a major exchange. But, to be fair, folks should be cautious with any investment they make.
Now that the obvious has been covered, let’s take a closer look at Saturna…
What Makes Saturna Crypto Tick?
A lot of crypto investors love the hype around a new project as much as the actual utility. In an “ask me anything” (AMA) held on Discord, the founders of the Saturna crypto addressed this directly by noting, “Utility is currently secondary to ensuring that there is excitement in the community.” It’s bold to come right out and say that. But it’s hard to not appreciate the honesty. And the team is certainly fulfilling that end of the bargain.
All of this isn’t to say that Saturna is another “meme coin” built to be pumped and dumped. The team behind the coin looks to have their gaze set on the future. They want to make Saturna crypto the next big thing. And they’ve got an 82-point plan to get there.
If there’s one thing young investors love, it’s riding an investment to the moon. Although, I don’t know anyone that doesn’t revel in turning a few bucks into a few thousand. And it’d be hard to find any investment outside of crypto that has done just that so often. So Saturna has set its sights on not just mooning once but mooning 82 times. (That’s the number of moons Saturn has). You can read the details in its white paper.
However, beyond the short-term goal of increasing adoption and drumming up excitement, Saturna crypto has revealed some important details. And first and foremost, it isn’t just about feeding fuel to the hype train.
Important Benchmarks Already Hit
Saturna crypto has already undergone audits. The Solidity Finance audit can be found here. And the one conducted by TechRate can be found here. And a third one has been hinted at. This is by no means proof of Saturna’s legitimacy. But it does show that the team is willing to put in time, money and effort. Whether that’s convincing enough to invest in it is up to you…
As adoption increases, the Saturna crypto team appears to want to increase its utility. Yes, they want to increase its value. But there are also plans to introduce utility applications to help it compete with similar tokens. A nonfungible token (NFT) marketplace has already been teased. And the idea is to allow only Saturna holders to purchase NFTs in their market. It’ll be a clever way to provide exclusivity if it catches on.
The other big hurdle the team has overcome is that they’ve paid for a centralized exchange listing on CoinGecko. The listing isn’t live yet. But if and when it happens, it could very well help drum up new interest and increase adoption and value.
The Great Unknown
The team behind Saturna has been shy about their identities. It’s kind of surprising that anonymity is frowned upon in some corners of the crypto world. But revealing the identities of the developer teams and creators has become a rite of passage for many new coin offerings. That doesn’t appear to be the case when it comes to Saturna. And the reasoning is pretty simple. Who is Satoshi Nakamoto, anyway?
That being said, a doxing would help curb some major unknowns. Namely, how big the team behind Saturna crypto is and what kind of experience they have. But the audits, which found no reason for concern, do help a bit. The team has also made announcements that the liquidity is locked forever, which adds another semblance of legitimacy to the project.
How to Buy Saturna Crypto
Until CoinGecko can get through its backlog of applications, there’s really only one way to stuff your wallet with Saturna crypto. And that’s by heading over to PancakeSwap. But first, you’ll need some Binance Coin (BNB).
You can start by heading to the Binance crypto exchange. There you can buy the exchange’s native coin, BNB. If you already have an account with ShapeShift, NexChange or any other exchange that offers BNB, you’re all set. Simply buy some BNB and transfer it to your wallet.
Another option is to just buy BNB right from your Trust Wallet account. Head over to PancakeSwap, click the “Unlock Wallet” button and connect it. Then, you just need to decide how much Saturna crypto you want.
The Bottom Line on Saturna Crypto
When there are unknowns about a company, it’s a lot harder to invest in them. But when it comes to cryptocurrencies, there are always going to be some unknowns. And there does appear to be a strong vision for future growth when it comes to the Saturna crypto. But at the same time, it’s just a gamble at this point… A gamble that could just as easily completely vanish as shoot to the moon.
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About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dog, Dorito.