squeezedgrape

POKT is but a huge bubble waiting to burst

Short
HUOBI:POKTUSDT   POKT / Tether USD
You see the videos, the testimonies, the interviews, consider this a good project, based on fundamentals, use case, revenue, etc. You convince yourself it's a great investment, you follow them on every social media, see a thriving community and the opportunity to make millions in the long term. Consider running your very own node to reap good rewards, or joining a pool. Create your wallet, buy some POKT, stake it, and keep calm knowing that you made a great desition.

That is until you read the pinned posts and check the first two ones: Total supply, and circulating supply.

Total supply
848,280,316,053,890*
supply(dot)research(dot)pokt(dot)network:8192/total

Circulating supply
668,086,253,540,202*
supply(dot)research(dot)pokt(dot)network:8192/circulating

Something seems odd... How can a crypto with such a huge amount of tokens be worth so much? (~$1.4)
With these numbers it's market cap would be at around $1,187,592,442,475,446. More than one QUADRILLION dollars. Now you know for certain something is fishy.

Maybe it's the fact that it hasn't been listed on mayor exchanges, and lack of liquidity is driving the prices rampant, but once the node runners and stakers are able to flood the market with their tokens to offset the hardware, maintenance, and investment cost this token will be worth next to nothing. The team knows this, the team wanst this to happen, not because they're bad people conspiring against their backers, but because they want to make the pocket network a really viable solution to their customers. Having they pay as little as possible, so the network has a real use. However this doesn't change the fact that the price is way over-inflated.

They are doing some proposals to solve this, but so far the developers don't seem to be eager to implement lower interest rates, nor a burning mecanism. So the point remains. Making an absurd comparisson with other tokens that have humongus total supply this project's token shouldn't be priced above $0.005 USD. Keep that in mind.


*At the time of writing, UTC-6 1:49 PM; it gets updated with every block, aproximately every 15 minutes.
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