Good morning/afternoon everyone. Another unexciting day in the most stable market in the world – the Crypto market! While the traditional stock markets are volatile and jumps up and down for no real fundamental reason – the only sound we hear in the crypto markets are crickets. But will this last?
I doubt it. And unfortunately I am still bearish overall. Few, if any cryptocurrency has proven to have much utility. EOS, which is one of the biggest protocols and by far the most used still only has a few thousand users, and is still in very early phase with speculation, pump and dumps, price discovery and even though these gambling platforms are very interesting, we don’t even have a proper game out yet. I know that some people are VERY keen on making that, and I have actually been in contact with a few skilled devs who has asked me what I want to see in a blockchain game.
So, for the fun of it – why dont you drop a comment on how YOU believe the perfect blockchain game should look like. Is graphics important? Sci fi themed? Fantasy? Middle ages? Land ownership? Renting lots? Crafting? RTS? MMORPG? Turn based?
Anyway, back to the market. So, while EOS at least is trying to protect it’s market cap, I think – unfortunately, that the crypto market is still overvalued as a whole. Most tokens are useless and built on Ethereum. How much overvalued is the market? 50-100B in my humble opinion. I know many tubers etc are talking about crypto markets being only 0,013% of the world money, and while that is true – we have some ways to go. I’m not sure if we can even protect 0,013% right now with a few thousand users. Most holders hold almost zero value in crypto and they are overwhelmingly passive. Now bear in mind that these are my short/medium term thoughts. Long term, a year or two from now, I think things will look very different. EOS will most likely be bigger than ETH in mcap and on a long enough time scale perhaps even bigger than BTC. If there is one project/protocol that I think CAN protect it’s mcap, it is EOS. But I would not be surprised if we take a small(er) hit as well.
Keep in mind, I’m talking about probability short term here, which I have done before in an attempt to try and pad a potential impact. So if you are new to investing and crypto in particular, a fall now might not come as such a big shock if you read this first.
Look at the way the BTC candles are bending to the weight of that bearish trend line. What speaks against further downside is however the low volume. But I personally don’t think this looks too good. We need to break through soon.
SEED tokens are airdropping these days. I believe the drop should be in our wallets soon. Everyone with more than 100 EOS get 1000 SEED. Looks like some has all ready gotten it and it is dumping 97% on Newdex on a relatively low volume (500EOS). This COULD be a very good buying opportunity. At the current price with 70M tokens dropped in the coming year the current price of 0,0025EOS per token holds a mcap of 189,000EOS which is good I think. Personally I have been buying a little bit at these levels, and I am hoping to grab some even cheaper.
I would not FUD and sell my mere 1000 tokens. Like I said, I would grab some at this low price or perhaps even take a shot at getting them even lower, and then hold them, because Parls will reward SEED holders.
“50 million SEED tokens are airdropped to all accounts based on the proportion of SEED in your EOS account. The more SEED you have, the more you are airdropped.”
There will also be staking functionality. Also, last but not least – Parsl is a very interesting project! This should (obviously) also be factored in when you buy a token.. https://www.parsl.co/
60K Daily Users
Speaking of protecting its mcap, 60k daily active users/accounts is pretty good. Bitcoin has around 250k daily transactions. Considering EOS has a 40 times smaller mcap than BTC. Of EOS 400k total accounts, around 15% is active. This is good.
The latest dice platform. Get 100 tokens per 1 EOS at risk right now for the ability of staking and earning dividends. Please don’t gamble away all your money.
http://www.eosluckyme.com/ . (no referral code)
If you liked this you can also check out some of my other articles!
Not a member of TRYBE yet? Join now! referral link
Donations accepted! (eos account) eosmaster1ng
Disclaimer: This is not investing advice. I am not a professional. Just a regular guy talking about cryptocurrencies on the Internet.