A lot of people are asking what price the ENA project is going to launch at, and honestly, I don't understand why they want to know the launch price if it's not a relevant piece of data, nor does it serve any real purpose. So, I came up with the idea of doing an analysis prior to the launch. Tomorrow, if time allows, I'll do an analysis at the time of launch and in the following days. Then, we'll continue with analyses on ENA, doing technical analysis weeks or months after the launch, so that other folks following the crazy Crypto Academy (LocademiaCripto) can read these analyses and learn more.
If we head over to the Binance Launchpool page, we'll see the total rewards that are going to be provided during the Farming period. This way, we can see that the previous product only had 20 million coins as rewards, with four days of Farming, talking about the #ETHFI project... as there's a significant difference, it's not comparable.
The only one that comes close to the total rewards that the ENA product will have is PIXEL, with 350 million coins. So, let's analyze what the initial launch price was for Pixel. It's worth noting here that this type of analysis and projection isn't entirely correct because the projects are completely different. Pixel was a gaming project, associated with Web3 and gaming, mainly on the Ronin Network or Blockchain. The Ena project has nothing to do with Ronin, it's part of ENA Labs, and we're talking about a token for what would be an algorithmic dollar (USDe). I've talked about this in previous posts, so if you're not following me, you know what to do!
Let's get to the point, PIXEL appeared on the market back on February 19, 2024, with an initial launch price of 0.04 (but could anyone buy at this price? NO!) The price skyrocketed to an ATH (I call it psi-ATH) of 0.5980 in the first 3 minutes! That's when its trading journey began, with strong trading between those who wanted to buy cheap and those who wanted to sell what they had gotten for FREE by participating in the #BinanceLaunchpool ! On launch day, the ATH was 0.6947, and you can check the charts to see how trading has been since then... as of the time of publishing this article, we're at 0.6815.
What would be the price of ENA? Does it matter? Tell me on comments why that care?
We'll have, at the time of launch, 300 million coins in the hands of Binance users. Those coins, for those users, are a gift (they didn't pay for them). So, it's a problem for the trader who wants to buy to enter trading, knowing that in the first few minutes (and maybe hours), there's a lot of selling pressure... and it also plays an important role that those 300 million coins may not want to be sold until they know if the project has potential. In other articles from LocademiaCripto, I've published about #ENA Labs and its project (and similarities with Terra Labs).
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