Read on Twitter
Thread on why I consider $REN might be reaching a generational bottom at 1000 sats.
I have a high degree of confidence that once REN finally begin to consolidate its price over 1000 sats, we will never be able to see "1 #daknode (100k REN) = 1 BTC" again.
I have a high degree of confidence that once REN finally begin to consolidate its price over 1000 sats, we will never be able to see "1 #daknode (100k REN) = 1 BTC" again.
Past months we have seen some ridiculous APY on DeFi space, but now waters are more calm and we can analize numbers from a more realistic perspective.
Last epoch (28 days), #RenVM has distributed 26.189 BTC on fees over 1523 #darknodes. Thats about 0.017 BTC for each darknode..
Last epoch (28 days), #RenVM has distributed 26.189 BTC on fees over 1523 #darknodes. Thats about 0.017 BTC for each darknode..
So currently we are talking about a 20% APY vs BTC investment (yes, you are getting paid in BTC). For reference, a good gross rental yield is considered above 8%. Right now #RenVM is outperforming GRY of almost any city of the world.
https://www.numbeo.com/property-investment/gmaps.jsp?indexToShow=getGrossRentalYieldCityCentre
https://www.numbeo.com/property-investment/gmaps.jsp?indexToShow=getGrossRentalYieldCityCentre
Until now, the only use we have seen for #RenVM was minting/burning BTC on Ethereum in order to take advantage of yield opportunities. That *only* use case is making possible a 20% APY.
Ok, lets talk about expectations.
Assuming #RenVM is capable to sustain the current velocity generated *ONLY* by yield opportunities of BTC on Ethereum (I firmly believe velocity will not only sustain, but increase), and considering what is coming...
Assuming #RenVM is capable to sustain the current velocity generated *ONLY* by yield opportunities of BTC on Ethereum (I firmly believe velocity will not only sustain, but increase), and considering what is coming...
this builds a floor for velocity and therefore price vs BTC (thread topic)
Soon #RenVM is gonna make possible to move BTC from any host-chain to any other host-chain (no need to pass through Bitcoin blockchain) increasing velocity as DeFi products expand beyond Ethereum.
Soon #RenVM is gonna make possible to move BTC from any host-chain to any other host-chain (no need to pass through Bitcoin blockchain) increasing velocity as DeFi products expand beyond Ethereum.
That being already a bullish case for velocity (therefore $REN price), its gonna be possible to move *any asset* from any host-chain to any other host-chain, increasing velocity several order of magnitudes.
Plus there are gonna be also some 2nd layer apps like @0confirmation which will suddenly bloom and generate new uses cases increasing velocity. https://twitter.com/0Confirmation/status/1323431588219138048?s=20
Conclusion: In case Ren will not be a failed project as a whole, I tend to believe 1000 sats (1 #darknode = 1 BTC) is a generational bottom for $REN
Do your valuation, analize risks and make your bets. Nowadays we are facing generational wealth opportunities.
Do your valuation, analize risks and make your bets. Nowadays we are facing generational wealth opportunities.
