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Join me in analyzing the crypto markets!
KOIN is now completing testnet and is getting ready for mainnet in Q4
The Snapshot will occur sometime after October 31st! This means that the wallets holding the ERC-20 Token "Koin" currently traded on Uniswap and stored on self custody wallets will get a snapshot, recording the balances which can then be claimed on the mainnet. The team is leaving it somewhat ambiguous when the snapshot will exactly occur. However it seems it will probably happen days or weeks after this announced date.
The mainnet itself will probably launch 4-6 weeks thereafter which would put it at around middle of November. Once mainnet launches all holders will experience the capabilities of KOIN first hand. Although the caveat is that there is still not too much there yet in terms of development. The only confirmed apps are a wallet and a dex. A good start, but not too much utility yet... A cex listing is also planned for the near future. In other words, the real work actually starts after the release of the mainnet!
TA
Last time I posted this chart which seems to hold up quite well. Of course price will go to 0 after October 31st, so there will be a gap in this chart until there is a trading pair again.
With only about $150k in liquidity it is very hard to predict where price could be heading before the snapshot, especially since people will start to remove liquidity some weeks and days before the snapshot. It is clear that there will be extreme volatility. Past movements have shown that there should be a consolidation phase now until the big event that is mainnet.
Since price is soon intersecting with the supporting trend line again it remains to be seen if it can remain above it after mainnet. For the earliest date this would be at around 28-30 cents. The price after mainnet is of course a complete unknown. If it will have any basis in this chart then it should be traded at around this price or above. But since there is not a CEX listing, we will have to wait and see. The potential to the upside is, however, very great and the chart does suggest a price of $10 sometime next year!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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