Mars Coin has been behaving pretty unusually this week.
Its biggest liquidity pool isn’t paired with U, but with SpaceX stock. In theory, when Musk’s side goes up, Mars Coin should benefit too.
But this week, the exact opposite happened. Since October 1, SpaceX has risen from 151u to 168u, gaining over 10%. Mars Coin has fallen from 0.137u to 0.094u, dropping more than 30%.
Here’s another way to look at it. On October 1, 10,000 Mars Coins could get you 9 shares of SpaceX. Today, they can only get you 5.6 shares.
The point is simple. People selling Mars Coin don’t necessarily think SpaceX is a bad bet—they’re swapping Mars Coin for SpaceX and holding the stock directly. They’re keeping the shares and shedding the premium attached to Mars Coin.
So don’t use SpaceX’s rise to justify holding Mars Coin. This week, the two have become completely different bets.
Da Chao is watching just one number now: how many shares 10,000 Mars Coins can buy. If that number stops falling and starts moving back up, it means people are willing to pay a premium for Mars Coin again—that’s when a catch-up rally can begin. If it keeps falling, don’t rush to buy.
CA: 0xFe189E97832DA1573e4e4Ff034F4fFC3a15c7777 #MARSCOIN $MARSCOIN
Its biggest liquidity pool isn’t paired with U, but with SpaceX stock. In theory, when Musk’s side goes up, Mars Coin should benefit too.
But this week, the exact opposite happened. Since October 1, SpaceX has risen from 151u to 168u, gaining over 10%. Mars Coin has fallen from 0.137u to 0.094u, dropping more than 30%.
Here’s another way to look at it. On October 1, 10,000 Mars Coins could get you 9 shares of SpaceX. Today, they can only get you 5.6 shares.
The point is simple. People selling Mars Coin don’t necessarily think SpaceX is a bad bet—they’re swapping Mars Coin for SpaceX and holding the stock directly. They’re keeping the shares and shedding the premium attached to Mars Coin.
So don’t use SpaceX’s rise to justify holding Mars Coin. This week, the two have become completely different bets.
Da Chao is watching just one number now: how many shares 10,000 Mars Coins can buy. If that number stops falling and starts moving back up, it means people are willing to pay a premium for Mars Coin again—that’s when a catch-up rally can begin. If it keeps falling, don’t rush to buy.
CA: 0xFe189E97832DA1573e4e4Ff034F4fFC3a15c7777 #MARSCOIN $MARSCOIN