Is Pastel a Good Investment?

tl;drPastel Network aims to build the world’s most advanced, secure, and decentralized blockchain project to trade provably rare digital assets. By digital assets, Pastel refers to a kind of digital collectible that is cryptographically secured and is created in a similar way to how a traditional artist might create a set number of limited-edition physical prints. While Pastel's Twitter account saw a relatively constant number of followers during the last five months, a sharp jump happened between 12 September to 16 September 2021. Overall, there was a 577% growth in the number of Pastel's Twitter account followers over the mentioned period. It is ranked as 1,212th most valuable project in the market with less than $7 million worth. Our data indicate that PSL's price has fallen by 21% over the last month, with the last week's 6% increase acting as a painkiller.
Is Pastel a Good Investment?
Is Pastel a Good Investment?
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Introduction

Pastel Network aims to build the world’s most advanced, secure, and decentralized blockchain project to trade provably rare digital assets. By digital assets, Pastel refers to a kind of digital collectable that is cryptographically secured and is created in a similar way to how a traditional artist might create a set number of limited-edition physical prints. Without the high fees of other crypto art projects, Pastel provides creators with a way to directly connect with their fans by selling limited edition NFTs that can be registered and traded on Pastel's blockchain.

Pastel Network utilizes its own native currency called PSL. The token is used as both a payment method and a means of providing staking and validation resources across the entire ecosystem. Ultimately, PSL is required for the network and various applications that are built on top of Pastel. By the way, we are investors, let's talk business!

Financial Analysis

Popularity is a critical factor in determining cryptocurrencies' success. While Pastel's Twitter account saw a relatively constant number of followers during the last five months, a sharp jump happened between 12 September to 16 September 2021. Overall, there was a 577% growth in the number of Pastel's Twitter account followers over the mentioned period. Its Reddit subscribers and Telegram channel users also increased during the same period, with 29% and 28%, respectively. You can have Free access to our report about Pastel's popularity here.

Apart from its big jump on 5 July 2021, which led to the rank of 597, Pastel saw a decreasing trend in its ranking among other projects in the market in therm of market capitalization over the last five months. Today, it is ranked as 1,212th most valuable project in the market with less than $7 million worth. Its price also followed a similar trend over the mentioned period, starting from $0.005 on April 23, 2021, and reaching $0.0029 at the time of writing this post. Moreover, its liquidity score is almost the same as the market's average liquidity. This score demonstrates how hard it would be to sell PSL if the market is falling. You can find our full report here.

Projects with public Github account have more transparency and reliability. Generally, investing in projects with multiple contributors and commits is considered a better investment. Our data shows that 10 developers contribute to Pastel's development, and there was 24 code commits over the past month. Our full report can be found here.

Although PSL is too young to talk about annual Return On Investment (ROI), investors who bought PSL a month ago are struggling to keep themselves calm! Our data indicate that PSL's price has fallen by 21% over the last month, with the last week's 6% increase acting as a painkiller. You can follow our report about PSL's ROI here.

You're saying that I should invest in Pastel?

We are here to help you make smarter financial decisions by freeing up your intelligence through making it easy to compare thousands of coins. We do all the hard work for you and help you remove emotions from your decisions. However, making an investment decision requires considering your own financial situation and comparing your investment options.

To see our reports and easily compare the available investment options, check out our website.

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