Only those who invested their own money directly in this coin are suffering; those participating for the rewards are likely not. Few people view reward participants with a critical eye. Why? Because they didn’t invest their own money.
Even now, selling pressure on the reward coins continues, and there is no new inflow. Their distribution policy has failed over the past two years. Due to a lack of demand for the oversupply, the price dropped from 1,600 won to 60 won. However, another 20% of the supply will be released this coming May. Structurally, this coin cannot rise any further. Can you refute this? The project’s performance and the price are moving inversely to each other. The only uses for this coin are governance voting and staking. Can this coin really rise?
The problem is that I have tried writing comments, sending emails, and posting articles, but no matter how much I rant, nothing changes. I invested my own money based on this company’s vision, but honestly, it is truly difficult. What is even more grim is my concern about how low the price will drop and whether this project will disappear. What good does it do to buy back the coins at a level that is very small relative to the market capitalization?
As shareholders who naturally bought this coin, can’t I even make such a demand? If you are reading this, come up with a realistic plan to raise the price.
Being in a bear market and not having really had an actual alt season last cycle, you could replace Pyth with nearly any other token and make this exact same statement, price action for the most part has been inline with most other alts.
Some food for thought, the project has only just started making meaningful revenue and if you look at some other posts on the DAO I’m sure you will see there are many discussions happening about creating more revenue streams and possible changes to tokenomics and vesting schedules.
I have no doubt the team would love nothing more than for the token to be making ATHs but Rome wasn’t built in a day my friend.
You’re 100% right. I’ve also contacted the team members many times and I don’t see any feedback. Tokenomics is very bad, it’s not enough to just buy tokens, you need to make the token necessary. Unblocks should be frozen.
It is a well-known fact that other coins are also in a bad state. However, we need to take another look at this coin’s chart. Even during the cryptocurrency boom, their performance was poor. They have been continuously declining since their listing. Does this truly feel like a situation where one can expect a price increase? There is no reason to buy them due to the constant selling pressure. If 20% is released this year and another 20% next year, how low will the price drop? Will it even be able to survive? What good would it do if it were to rise several times over once it hits the 1-won range? They need to listen to those who invested in value, genuinely expecting their vision. On Twitter, only the reward participants praise them, but there is likely not a single person among them who invested tens of millions or hundreds of millions of won in this coin.