For a very long time, the CTP community was a well hidden hive-engine tribe. It was overlooked most of the time but things are about to change...
8 days ago, I have written the post Do you have the CTP token on your investment radar? In this post I was speaking about the fundamentals of this token. If you heeded my advice at that time you could have bought the token for 0.11 Hive. If you want to buy it today you need to pay more than 0.20 Hive!
This evolution has brought quite a lot of attention to the token and the evolution of the price is difficult to predict. In the discord channel of CTP I've found this message by @flaxz that he got himself from the BRO discord channel.
What is BRO?
It's a community token for Bro's that curates and buys miners from different coins. Investors get 50% of the daily curation rewards. If BRO starts to buy CTP, this means that not only the demand will increase, also the volume for the token will increase. All the BRO token holders will start to get CTP tokens and not everybody will want to keep them. This will fuel the market volume.
Triggering the Index token
This increased volume will have a triggering effect on the Index token. The index tokens buys tokens according to their volume. The more volume a token has, the bigger his weight in the index will be. This will mean that with each Index token sold, a growing part will be used to buy... CTP tokens! Again all Index token holders will get CTP dividends. This will again increase the volume.
A third effect: the @ctpsb project (The CTP Swarm Booster)
I've been running this community project since September 2019. In a nutshell it's a tokenized account belonging to the holders of the CTPSB tokens. The token value grows thanks to author and curation rewards that are leveraged by the delegations that the account gets. Hive Power delegators to the @ctpsb account get paid weekly dividends in CTP tokens. Last week 191 Hive worth of CTP tokens were distributed. This was a return of around 21% APR (this fluctuates from week to week). Every week a part of the dividends that the account pays are bought on the market. (learn more about CTPSB).
With BRO, INDEX and CTPSB we have an organic demand for the CTP token that will increase with volume and price. This on the other hand could potentially generate additional demand from other investment tokens like dhedge who want to add the CTP token to their portfolio.
Let's remember some key facts about CTP
- 89.71% of the tokens are staked
- There are only 280'000 liquid CTP tokens in circulation
- A new front-end for the CTP token will be coming out very soon
- This front-end will allow to display ads. The return of these ads will be used to burn CTP
- This year the token supply will grow by 40%, next year it will grow by 28%, then by 21%.
We have come up with a transparency report for the token that was published yesterday. There is also a roadmap available for the token and the CTP tribe.
The best about CTP
What we shouldn't forget about all this is that the best about CTP is actually its community of dedicated people...
P.S: This is not financial advice. Please make your own research and invest only what you can afford to lose.
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