Prices are on going downhill lately and we watch a struggle by the bulls to keep the prices higher, although new volumes of fiat entering have decreased a lot considering the money that was coming in just 12 months ago.
Bitcoin Cash has dropped even below $500 but where can this go from here. The market has taken an expected bearish turn since the news had been negative and as we all expected the El Salvador Bitcoin adoption was not quite honest. The Chivo wallet except from being centralized it is also weak and bug infested.
There are claims about 4 million new users of the lightning network but it looks like all of them just made a wallet to gain the $30 airdrop of BTC, sell it at an ATM and never come back.
Without any education of the public but only speculation by the government that BTC will somehow save them all it meant nothing to a simple civilian that only hurried to grab the airdrop and sell before the $30 quickly evaporate in less.
Adoption means to explain what this is about and educate. The Bukele government probably doesn't care a lot about that. It is highly possible the whole circus that we watch is orchestrated by maximalists that paid the Bukele government a lot to introduce LN to the public.
flexUSD and FLEX Coin
Stablecoin flexUSD is the CoinFlex native stablecoin and now also on SmartBCH. It is operating at BenSwap and already has 1 million USD in liquidity.
Users mint flexUSD at CoinFLEX with USD at a very low cost and can use the flexUSD in perpetual trading in the exchange. flexUSD is also now on BenSwap and offers a very high yield for the BCH-flexUSD LP farming, with an APR of 86,80%.
FLEX Coin is associated with the CoinFlex Exchange. Ben Lamb the founder of Coinflex has plans for this token, with the development of an upcoming DAO but we will have to wait for an official announcement for that.
A DAO is the initials for decentralized autonomous organization. MakerDAO is the best example we have today of a DAO and maybe also Dash coin. We will have to learn more about it from Ben Lamb and cover it when there will be announcement.
From the SEP20 tokens market, I bring you today the top-10 by liquidity from MarketCap.Cash.
We didn't have a new entry as SEP20 token for a while. Prices are again dropping slowly and EBEN is now at $0.80. The token used to be $2 and is probably underperforming now. I said previously that at this price it is a good deal, although, with any investment we don't know where the bottom would be. I still think that it is a great price and within months or a year this will become a great investment that will pay off those brave enough.
Knuth also paid these days 5 million tokens to the stakers providing liquidity, so the 10% drop is probably a result of this move. Liquidity is high in many of the top-10 tokens and gives a good impression for this upcoming market.
Market caps are not so important at the beginning, KTH may have today 30 million but there are plans to support the token. Same as with ARG, Knuth have plans for more airdrops, new distributions, and burn of tokens.
I've seen how burn works at times and when there is a small demand it helps the price increase. Although, I would expect some tokens to try to find a role, because just being speculative tools to test a new platform like SmartBCH, is fine, but it is fine only at the beginning. Once projects with a real vision and backed by some investors appear then those without a clear vision will not be able to survive.
Although, the community will keep supporting the projects of other community members, it is still better to bring something more. Maybe some tokens previously made it by just being speculative, eventually those will not survive either.
I also observed that the value of bch is getting lower and thanks for this update I've got know the reason somehow, anyways I am still having a hard time to understand those tokens, smartbch, etc still doing my own research about it. This is interesting!