The John McAfee Promotion: Substratum and InsurePal Barely Move

Published on 24 January 2018 by Cryptovest Staff

As markets are recovering from a deep correction, two coins promoted by John McAfee have not taken off as expected.

> Again - "Buy the f-cking dip". It will rebound the market. Oh, I'm also obligated to promote Substratum (SUB) and Insurepal (ipl) today. So I just did. Which I would do without the obligation. I helped both. So you know they're good. Watch and rebound:https://t.co/L2BOajm0YM — John McAfee (@officialmcafee) 24 января 2018 г.

Substratum (SUB) remains near the lows, at $1.14, on thinning volumes. Not even the active Binance trading has propped up the price, but the hope now remains for a rebound from the lows. SUB reached a peak above $3 during the altcoin rush in December, before correcting deeply.

InsurePal (IPL), a very recent ICO, is still in its price discovery stage, moving lower to $0.30. Time will tell whether the McAfee promotion would be remembered long enough to boost the popularity of this still new and less-known project. InsurePal has the disadvantage of only trading on Livecoin and EtherDelta, exchanges that remain inaccessible for newcomers to cryptocurrencies.

At this point, SUB is still a speculative asset, and 2018 must see the beta version of the product. The project is still in the popularization stage, but the recent dip may turn into an opportunity as the year progresses.

Its pricing information is incomplete, but the relatively low price and the potential for further promotion may boost the market price.

For a few weeks now, the McAfee effect has proven to be very different for digital assets. The most exuberant and disproportionate response came from Verge (XVG), which climbed from below a penny to as high as $0.26 before sinking again below $0.10.

However, the influential tweets of McAfee are continuing, to boost both existing coins and upcoming ICO-related assets and projects. And while the promotion may boost prices and trading in the short term, and lift coins from the recent lows, the effect also increases volatility and risk, and may harm newcomers.