greetings to everyone;
btc raise around %10 these days, i check coins price they generally follow btc this status always happen my question is diffrent.
according to cmc data filecoin price raise %10 and file coin total suppy is 158 M price around 24 usd.
chia price not follow btc price and others total supply must be 3 M because we are 1.5 M block, price around 80 usd.
so guys chia blockchain generate new coins every block and chia price always going down
what do you think about chia’s future?
chia history over then a year i guess and chia is not a baby anymore. must have grown at least a little.
Chia is a cryptocurrency that is still maturing and finding its place. Just because the market is not currently reflecting the development effort and potential it has doesn’t mean that potential isn’t there.
Chia’s market cap is around $240M, and Filecoin’s is around $3.8B. Chia’s market cap isn’t to be understated.
Filecoin accomplishes a completely different goal than Chia.
Lots of filecoin get locked away to encourage price growth.
Not the case with chia.
It is hard to say this is true or not. I’m not arguing with you, I think I agree with you.
Normally I would say that the market prices in ALL known or speculated information. This is only true if the volume is high enough. What is high enough? Not sure.
Just an example over the last 24 hours.
Chia 24H Volume: $10,605,895
Chia Market Cap: $242,526,765
4.3% of the Chia market cap was traded in the last 24 hours.
Filecoin 24H Volume: $834,281,766
Filecoin Market Cap: $3,738,195,240
22% of Filecoin market cap was traded in the last 24 hours.
The more volume and liquid a market, the more accurate the prices will be in terms of reflecting known and speculated information.
Based on my expert analysis above , I’d say that the Chia market is not as healthy as it could be. Why would this be the case? Could be a bunch of reasons.
…more speculation on my part…
People don’t take the project seriously because they are doing something different.
People don’t like the name (Chia)
People don’t like Bram
People don’t know that Chia is even a thing
Farmers have weak hands and should be selling for more
Volume increased 114% in the last 24 hours
20% of the trading is because of Binance.
What I like with chia is that if it suddenly goes up a lot, netspace won’t increase immediately until newcomers finish plotting, which can take many days. Giving older miners nice rewards during that time.