2022-10-17 16:44:30
Which tokens will no longer refresh the maximum?
Consider projects from the current cycle that are highly likely to never update their ATH
Internet Computer (ICP)
ICP was released in May on a hype and immediately got into the top 5 by market capitalization due to revaluation. The price reached $2800, and now it is trading at $5 - the fall was 99.8%!
The project was launched by the DFINITY Foundation to expand the functionality of smart contracts. As a result, there is not even normal DeFi, and liquidity is only $500k (penny by DeFi standards). Something is being developed in the ecosystem, but globally there is silence, 0 high-profile projects, announcements.
It is more profitable for pump funds to restart a new product with a new token and the same technology. And the old ICP is not interesting.
Axie Infinity (AXS)
A project that has made more than 1000 x after IEO on Binance against the backdrop of the development of blockchain games. However, the token has since lost 95%. At the same time, 70% of all tokens are NOT yet unlocked and will put pressure on the price in the future, hindering growth.
The concept of free money in P2E is dead because money cannot be free in the first place. Someone has to pay for the banquet.
AXS is doomed to continue to lose value. There are fewer players, and the funds are still in the black, so they will dump the price.
Terra Classic (LUNC)
In May, LUNC dropped from $90 to less than a hundredth of a cent. However, the project was restarted, relisted on the exchanges and LUNC grew 10 times from the summer bottom. Then they added a burning mechanism, which gave the hamsters faith in a return of at least $0.01.
However, LUNC's burning rate is very meager: $6 trillion issuance, and it will take 31 years to burn just $10 billion.
LUNC is a new speculative instrument of whales, which will make money for exchanges and large players. And to renew the high, you need something more than the euphoria of traders.
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