Why some “whitepapers only” projects are worth 10x more than some projects having a working product?
here’s an over simplified explanation to prove that the markets nowaday are more pigs on LSD (you never know where it’s headed) than a rational market where fundamentals are worth a thing.
a quick answer would be : total supply, coin price and noob traders.
Let’s take as an example OmiseGo (OMG), Enigma (ENG), Cardano (ADA) and tron (TRX)
- OMG has a total supply of :000 140 245 398 OMG
- ENG has a total supply of : 000 150 000 000 ENG
- ADA has a total supply of : 031 112 483 745 ADA
- TRX has a total supply of : 100 000 000 000 TRX
So now how to get 500B$+ marketCap project:
- Create 1 000 000 000 000 coins (one trillion)
- Write a whitepaper about a hyper secure ledger for banks that processes 1M txs/sec
- Say that every coin is worth 0.1c (1/10 of a cent).
(means you are ALREADY worth 1 000 000 000$ (1 billion $) from scratch) - Once you’re listed on some exchange, bots, traders, whales and noobs will rocketboost your coin to AT LEAST 50c
Congratulation you’re now worth 500 000 000 000 (500 billions$), more than all the crypto space at the moment, everyone thinks you got room to evolve and you’re still cheap.
Oh and congratulations on the flippening (happened when you were at 20c).