$in
Newly launched contracts
I briefly understood the situation
Total token supply is 1 billion, initial circulation is 26.3%
In the initial token distribution, the project party holds at least 18%
Although it is said to be used to build the project ecosystem
But who can say for sure
Of the remaining, 7% is used for airdrops
So the overall selling pressure is still quite large (accounting for 38% of initial circulation)
Binance Alpha offered 500 tokens, and with the current price of 0.08, that’s about 40 USD
In this recent tightening market, that’s still reasonable
However, this project only raised 6 million, and institutions hold about 25% of the tokens, with a cost price of around 0.024. Compared to the current price of 1, it seems to be overvalued, especially considering there are expectations of short selling at the opening.
However, this token has a Korean community promoting it, which increases the likelihood of being listed on a Korean exchange.
Combined with the project's highly controlled token supply, if the price can stabilize after a high opening, there may be a surge when it gets listed on the Korean exchange.
According to my expectations, at the opening, more attention should be given to the airdrop aspect, which should allow the low-priced airdrop holders to digest their tokens first, and then start to pump the price, especially since the project party holds a lot of tokens, ultimately stabilizing the price for the listing on the Korean exchange.
