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Recently, its hype has been quite high, with the opening price reaching $0.4.
Let me briefly introduce its basic situation: the total supply of tokens is 1 billion, with an initial circulation of 11.13%. The project raised $6 million through institutional financing, and institutions obtained 20% of the tokens. This means its fully diluted valuation (FDV) is $30 million, and the average cost per token for institutions is about $0.03.
For institutions, the profit has already been substantial. After all, the opening price of $0.4 is indeed outrageously high. If one were to enter the market now, the risk of institutional sell-off needs to be considered. In addition, the airdrop of this token is very concentrated, with some top streamers receiving nearly 300,000 tokens. Although the initial unlocked amount is not particularly large, this concentrated selling pressure is a significant issue that cannot be ignored.
So far, most projects in the Web3 field that focus on live streaming platforms have not achieved any significant accomplishments. If we are to benchmark, we can only refer to Web2 companies, such as Huya with a market value of $730 million and Douyu with a market value of $230 million. Currently, Alpha's fully diluted valuation (FDV) is around $400 million. This only indicates that anything entering the blockchain space will have its valuation amplified several times.
However, this project has a close relationship with the Korean community and has previously held events in Seoul. Therefore, you know, there is a possibility of listing on a Korean exchange in the future.
In my opinion, its product value cannot support a fully diluted valuation of $400 million.
So, is it long or short? You understand!
Target team claim