A few days ago, a certain institution issued an announcement to remove the MSN coin from the shelves:
You know, this project was only listed on OK in April this year, and it is said to have a private equity valuation of 1 billion!
The list of investors is not shabby either, with Hash Global/Seven X among them. Although the amount of funding for the round with a valuation of $1 billion was not disclosed, OK invested in it itself!
MSN's performance has been poor since its first day on OK:
The market value on the first day was only 300 million, and then within a month the valuation dropped to 100 million, and then continued to fall. The project team did not seem to have spent money to boost the market:
The liquidity of this token is actually not very high. Only 20% of the tokens have been released, and most of the VC coins are still in hand:
Since OK issued the announcement, the market value is now only over 10 million.
It took less than four months from TGE to OK's delisting.
Judging from this performance, there is definitely something wrong with the 1 billion private equity valuation. The money was definitely not given according to this valuation. It is highly likely that the project party and institutions set up a scheme to deceive retail investors.
It is really hard for users who participate in staking. The project party promised an annualized rate of return of 55%, but if you rush in from the opening to now, the price of the currency can be reduced by dozens of times.
It's true that you are after their interest, while they are after your principal.
The current response from the project is:
“We stand firm in our convictions and will continue to build on them, now and in the future.”
As expected, the crypto circle really needs to recharge its faith.
Another private equity project with a billion-dollar valuation, IO, is not much better:
But IO at least announced that it had raised 40 million US dollars.
However, after the project was launched on Binance in June, only a little over 10% of the tokens have been released, and the FDV is only 1.4 billion. If there is no substantial progress in the business, the price may fall below the private placement price at any time.
IO's private placement investors have a one-year lock-up period and will have to wait until the 13th month to start linear unlocking.
Of all the tokens listed on Binance this year, only JUP is profitable:
As the crypto industry has developed to this point, most players are speculators, and Jupiter is one of the few projects with end users.
Because Jupiter’s main function is to aggregate liquidity from various DEXs and automated market makers (AMMs) such as Raydium, Serum, Orca, Saber, etc., to provide users with the best token exchange prices and routing.
On the Solana network, Jupiter directs approximately 50%-60% of transaction volume.
Therefore, all the speculators who speculate on Solana are the end users of Jupiter.
It’s hard for VC to make money now, so it’s better to open a casino to make money~
