Something is brewing!
Hey guys,
Here is my analysis of the current EVMOS chart. (13.07.2022)
I clearly see two scenarios upcoming in next 24hours:
- The bullish one, with a potential pull-back to $2.52 and a range between [2.00;2.52] with the 0.382 fibo zone that will be defended and need to be reached (bullish).
- The bear one: new short-term consolidation will be between [1.6 ; 1.99].
More elements need to be taken into consideration:
- US CPI announcement, with a 9.1% yearly-basis inflation. It has already (and even before the announcement) impacted EUR/USD but repercussions on cryptocurrencies market could be spread later.
- HIGH STAKING APR, with more than 460% APR at the moment (almost 13,000% APY), EVMOS is actually doing some inflationary mechanisms. In their whitepaper section tokenomics, they said a 75k tokens daily issuance, but numbers could be wrong. There are 25M EVMOS staked, at 460% apr, meaning 460/365.25= 1.26% daily = 315,000 tokens generated per day. It is more than 4 times the issuance announced! All you can expect is a consequent selling pressure with that.
- UNCLAIM FAIRDROP, representing 75M EVMOS still to be claimed. From August 1st, they will start to decrease claims until 30st September. It will maintain a non-issuance & diluted supply, that push buying support in the short-term.
- Project behind: EVMOS is the Ethereum Virtual-Machine on Cosmos HUB. As a comparison title, Cosmos HUB is less democratized than Polkadot (in all aspects, even if I am a big Atom believer). And yet, Polkadot's EVM (Acala) is still dumping (100M Mcap against 400M for Evmos).
Conclusion:
In my perception, Evmos is overrated at the moment. Their tokenomics is clearly inflationary and I can't even imagine such a project in this situation with a Mcap at 11B+ by the end of the year (if price maintains at $2, that will be the Mcap according to their current supply issuance & vesting).
Short-term analysis (until August), I think Evmos will oscillate between [1.7;2.3] depending on trends.
By the end of the year, I am expecting Evmos at $1 or even less.
I am definitely waiting for their biggest issuance between year 1 and 2 to reload a bigger bag ;)
And you, what's your thoughts!
Here is my analysis of the current EVMOS chart. (13.07.2022)
I clearly see two scenarios upcoming in next 24hours:
- The bullish one, with a potential pull-back to $2.52 and a range between [2.00;2.52] with the 0.382 fibo zone that will be defended and need to be reached (bullish).
- The bear one: new short-term consolidation will be between [1.6 ; 1.99].
More elements need to be taken into consideration:
- US CPI announcement, with a 9.1% yearly-basis inflation. It has already (and even before the announcement) impacted EUR/USD but repercussions on cryptocurrencies market could be spread later.
- HIGH STAKING APR, with more than 460% APR at the moment (almost 13,000% APY), EVMOS is actually doing some inflationary mechanisms. In their whitepaper section tokenomics, they said a 75k tokens daily issuance, but numbers could be wrong. There are 25M EVMOS staked, at 460% apr, meaning 460/365.25= 1.26% daily = 315,000 tokens generated per day. It is more than 4 times the issuance announced! All you can expect is a consequent selling pressure with that.
- UNCLAIM FAIRDROP, representing 75M EVMOS still to be claimed. From August 1st, they will start to decrease claims until 30st September. It will maintain a non-issuance & diluted supply, that push buying support in the short-term.
- Project behind: EVMOS is the Ethereum Virtual-Machine on Cosmos HUB. As a comparison title, Cosmos HUB is less democratized than Polkadot (in all aspects, even if I am a big Atom believer). And yet, Polkadot's EVM (Acala) is still dumping (100M Mcap against 400M for Evmos).
Conclusion:
In my perception, Evmos is overrated at the moment. Their tokenomics is clearly inflationary and I can't even imagine such a project in this situation with a Mcap at 11B+ by the end of the year (if price maintains at $2, that will be the Mcap according to their current supply issuance & vesting).
Short-term analysis (until August), I think Evmos will oscillate between [1.7;2.3] depending on trends.
By the end of the year, I am expecting Evmos at $1 or even less.
I am definitely waiting for their biggest issuance between year 1 and 2 to reload a bigger bag ;)
And you, what's your thoughts!
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