“Boys and girls of every age, wouldn’t you like to see something strange? Come with us and you will see this, our (crypto)town of Halloween!” would sing Danny Elfman these days. Of course, it’s the end of the 10th month, and that means only something: Halloween!
Believe it or not, there are out there some inventive developers that have taken the work of creating a bunch of “spooky” cryptocurrencies with different purposes and evil levels. We can call it our own town of crypto-Halloween, but there’s more to discover.
Do you know what the “Halloween effect” means and how it will affect the market? Walk into our little spooky-crypto-town to figure it out!
“What do you think of when you think of Evil?” Well, according to these guys, “big business” might be the correct answer, besides zombies and demons. And that’s exactly how it was born Evil Coin (EVIL) in 2015, with only one purpose: “embrace and inspire evil”.
And they mean especially the evil inside the cryptocurrency world, welcoming FUDsters, trolls, pumpers, and dumpers; which can affect badly the cryptocurrency market. They’re mean! And they don’t need ASIC machines to mine new EVIL coins, since they work with a hybrid algorithm on their blood chain.
Currently, the EVIL price is $0.0023, with $50.400 in market capitalization [CoinMarketCap]. “In evil we trust. Always do evil”, they say.
Are you a fanatic of horror films? The developers of this token seem to be fanatics, at least. Shivers (SHVR) is an ERC-20 token that’s aiming to work as the fuel for a “spooky” platform, in where they can create and distribute original horror films. The plan is that, in the future, every SHVR be redeemable for exclusive content and new movies.
You can say this might be the cryptocurrency for the horror. In the meantime, every SHVR is being traded at $0.00026, with a market cap of $14.500. The token was first sold through an ICO in 2018, but the funds raised are unknown [ICObench].
This a polemic and kind-of-creepy one, and yes, it’s just what you’re imagining. A cryptocurrency for the new pandemic coronavirus, COVID-19. Because nothing like the cruel reality to scare everyone, right?
And CoronaCoin (COVID/NCOV) is making a great job on that, since they’re burning (deleting) coins as people keep dying due to this sickness all around the world. The token supply started in 7,604,953,650 to represent the total human population. Then, their system checks the data by the World Health Organization (WHO), and burn the same quantity of token units as deaths counted from COVID-19. In case you’re wondering, there’s more than 1.1 million COVID burned to date.
At the least, CoronaCoin it’s helping the COVID-19 relief efforts. They’re donating 1 billion tokens to the charity, even if the price is barely $0.0000034 per unit [CoinGecko].
Halloween Coin and Halloween Horor
What? Didn’t you expect that there’s not just one but two Halloween-thematic cryptos? Let’s start with Halloween Coin (HALLO), launched in 2017. This is a minable currency, and the dev planned then some bounties, online games, commerce applications, and “spooky” giveaways. Sadly, nothing of it it’s here to date.
For its part, Halloween Horor (HOROR — yes, with only one “R”) was born this same year, and it’s trying to make an ICO for taking off. According to its very-grammatically-incorrect white paper, this would be a trick-or-treat currency: their community would challenge others to make some “unimaginable frightening feats and still go unnoticed”, in exchange for a reward.
By now, the price per HOROR is $0.88, with an unknown market capitalization. And the price and market cap of HALLO seem to really like Halloween because they look death.
Is this another spooky-thematic and dubious altcoin? Curiously enough, the answer is (maybe) no. We just picked this one because without ghosts there’s no Halloween, sorry. Despite the name — and the funny logo — , GHOST is a privacy-focused cryptocurrency developed by John McAfee. The same eccentric guy who created the McAffee antivirus and this same month was arrested in Spain for tax avoidance [NYT]. That one.
On the official website, Ghost is described as “Proof of Stake privacy coin to help make you nothing but a ‘ghost’ when transacting online (…) transactions are fully anonymous by Ring Confidential Transactions (Ring-CT), hiding the sender, receiver, and the amount”. It also includes an encrypted chat and no guarantees.
To date, GHOST is selling at $0.27 and it has a considerable market cap of $3.9 million.
The Halloween Effect
Time to discover a little secret, in case you didn’t know about it: there’s a “Halloween effect” almost every year on the markets. It’s told that after every Halloween (October 31) the stocks (and the cryptocurrencies) perform their best until May next year. That’s why the investors use to say “Sell In May and Go Away” (until Halloween).
Is this just another myth? Well, certainly isn’t a strict rule, and officially the ghosts don’t exist either. But there are things. We only need to look at the past: since 2015, Bitcoin (BTC) has presented some considerable increases starting in Halloween, and compared to May prices.
In 2015 the Bitcoin increase was +35%, in 2016 was +55%, in beautiful 2017 was +337%, in bad 2018 we had a recoil of -29%, and in 2019 we came back with +70%. This year, comparing since May, the increase has been +53%. You can draw your own conclusions with your favorite cryptocurrency.
In the last months, COVID-19 has been a great obstacle for everyone, and the markets aren’t the exception. Will the Halloween effect come back in these circumstances anyway? We don’t know. It may be a trick or a treat.
In the meantime, happy and spooky and crypto Halloween!