SPORTS token , the biggest DUMP token on hive?
Good evening to everyone , I hope you are all having a good day . Yesterday I posted about SPORTS massive buy wall of over 600 HIVE worth SPORTS but if you take a look at today's market it has already been destroyed .
I just grabbed a few sell order history images and you can see the massive dump .
Reason for the dump
- Actifit has been a great community , I have been a consistent Actifit user . It motivates me to keep fit but since it is linked to sportstalksocial and all the posts gets directly posted there , users wantedly or unwantedly get SPORTS token and once they get it , they just dump it .
- Lack of usecases. I won't talk in detail about this because I have kept on talking about this in my previous posts.
- Huge liquidity . Although 88.62% is staked , the 11.34% remaining that is
there is still 141,522,680 ( 141 damn million SPORTS token ) in liquid form . Even if 10% of the liquid holdings is actually sold off , we will clear off all buy orders at once .
Please correct me if I am wrong .
Regards, MR.
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Will this great dump, one more Sport whale is born.
Dump is not a problem at all, problem is use case, what else apart from curation?
I agree .
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I think that can be said not only of the token but the entire tribe.
In fact, it is where most of the tribes end up. They focus upon token and the price while forgetting about business growth and development.
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Unfortunately , true . I am disappointed of the fact that SPORTS can have a number of usecases but there is a lack of initiative.
Its the token supple that is flawed
Supply (Circulating / Total / Max)
101.177 B / 101.189 B / 10 T
10 trillion tokens for such a small user base is just insane
That ultimately just becomes a decimal point issue.
The bigger one is the lack of growth and utility. Where is the forward progress?
That is the same for most of the tribes on Hive.
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