SKY Profile

SKY
 Crypto
  

USD 2.72  0.10  3.55%   

Market Performance
9 of 100
Odds Of Distress
Less than 44
SKY is trading at 2.72 as of the 7th of December 2022, a -3.55 percent decrease since the beginning of the trading day. SKY has about a 44 percent probability of financial distress in the next few years of operation and did not have a very good performance during the last 90 trading days. Cryptocurrency ratings for SKY are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 7th of November 2022 and ending today, the 7th of December 2022. Click here to learn more.
SKY is peer-to-peer digital currency powered by the Blockchain technology. More on SKY
SKY is an online market maker for peer-to-peer digital currency indicated as Cryptocurrency. SKY has been active in the last 3 months, and it is currently trading with a bearish sentiment. Cryptocurrencies such as SKY are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as SKY are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.

SKY Crypto Coin Highlights

Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. SKY's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding SKY or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
SKY is way too risky over 90 days horizon
SKY appears to be risky and price may revert if volatility continues
SKY is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on few exchanges in multiple currencies. Skycoin is a cryptocurrency written from scratch in Golang. It does not use PoW nor PoS and relies instead on Obelisk, a network consensus algorithm, replaces both PoW and PoS with a web of trust. Skycoin is focused on core features, security, usability and simplifying Bitcoin instead of adding features as a marketing gimmick.Understanding the Skycoin Supply and Distribution here.
SymbolSKY
Market Performance RatingE+
NameSKY
Sponsoredfalse
Is Tradingtrue
Asset Launch Date2015-04-02
Full NameSkycoin (SKY)
Asset Website Urlhttps://www.skycoin.com/
Block Number177,534
Platform Typeblockchain
Coin NameSkycoin
Total Coins Mined25 Million
SKY (SKY) is traded on CRYPTO Exchanges. SKY is peer-to-peer digital currency powered by the Blockchain technology.

SKY's Exchanges and Markets

Binance LBank

SKY Target Price Odds Analysis

What are SKY's target price odds to finish over the current price? Depending on a normal probability distribution, the odds of SKY jumping above the current price in 90 days from now is near 1%. The SKY probability density function shows the probability of SKY crypto coin to fall within a particular range of prices over 90 days. Assuming the 90 days trading horizon SKY has a beta of close to zero. This usually implies the returns on NYSE COMPOSITE and SKY do not appear to be sensitive. Additionally, it does not look like the company alpha can have any bearing on the current equity valuation.
  Odds Below 2.72HorizonTargetOdds Above 2.72
100.00%90 days
 2.72 
0.00%
Based on a normal probability distribution, the odds of SKY to move above the current price in 90 days from now is near 1 (This SKY probability density function shows the probability of SKY Crypto Coin to fall within a particular range of prices over 90 days) .

SKY Against Markets

Picking the right benchmark for SKY crypto coin is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in SKY crypto coin price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for SKY is critical whether you are bullish or bearish towards SKY at a given time.

Be your own crypto manager

Our tools can tell you how much better you can do entering a position in SKY without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.

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How to invest in SKY

You need to understand the risk of getting into digital currencies such as SKY before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in SKY in four ways:

Buy SKY through an exchange

Get yourself a crypto wallet before embarking on your SKY journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase SKY. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.

Purchase fractions of SKY through an exchange

You don't have to buy a full token when starting out since SKY is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.

Trade SKY through a broker

If you don't want to store your SKY Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.

Invest in SKY through an exchange-traded fund (ETF)

You can also invest in SKY through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.

Investing Ideas

In addition to having SKY in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
Explore Thematic Ideas
Explore Investing Ideas  
Additionally, take a look at World Market Map. You can also try Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..

Other Tools for SKY Crypto Coin

When running SKY price analysis, check to measure SKY's coin volatility and technical momentum indicators. We have many different tools that can be utilized to determine how healthy SKY is operating at the current time. Most of SKY's value examination focuses on studying past and present price actions to predict the probability of SKY's future price movements. You can analyze the coin against its peers and the financial market as a whole to determine factors that move SKY's coin price. Additionally, you may evaluate how adding SKY to your portfolios can decrease your overall portfolio volatility.
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Options Analysis
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Fund Screener
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Equity Forecasting
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Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
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Portfolio Comparator
Compare the composition, asset allocations and performance of any two portfolios in your account
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Bollinger Bands
Use Bollinger Bands indicator to analyze target price for a given investing horizon
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