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MC Cendana posted an update 6 years, 3 months ago
EGC = 10.36 million coins. At the current price of $0.55, its market capitalisation is… a puny $5.75 million?!
If one were to compare this with most other coins and tokens, EGC is massively undervalued. Even if it were to go to $5.50, the market cap is still `only’ $57 million. If this isn’t a reasonable opportunity to speculate on, then I don’t know what is!
EGC is obviously under the radar of most investors and traders. When it comes to daily volume, EGC is often out of the Top 200. But sooner or later, I strongly believe the more savvy investors will start to realise this great bargain.
Earlier this month, EGC had seen how just a bit of attention would boost the price. The $1.00 level couldn’t be sustained due to it rising too high too fast. However, the purely speculative, very short term traders and weak holders are mostly gone. And the $0.50 level looks like strong support. I believe EGC will see a move to $1.00 again in early 2018. If it manages to stay above this level, what’s to stop it from going to $5… or more? And when that happens, I’m going to use this post to rub it in with a “Told you so” 🙂
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Putting economics to work for our ecosystem
By possessing EverGreenCoin you become the backing of EverGreenCoin. Your support in doing so helps all of our initiatives. By mining (aka 'Staking') you help even more and are rewarded for your computational work. Participants and donors are free to trade or sell EGC on the secondary markets. EverGreenCoin Foundation, Inc. does not receive any profits or financial benefits from these or any sale or trade of EGC on the secondary markets.
Current supply is 13,481,971 EGC. Not 10.36 million. But, other than that, I could not agree with you more! What was interesting is prior to the $1 price surge, 30 cents was the floor. So we went all the way from 30 cents to 1$ and then 50 cent floor. Skipping right over a 40 cent floor! I am no market expert nor day trader but, that seems to display confidence by the market. 2017 was an amazing year in regards to price for EverGreenCoin. I have no doubts 2018 will far exceed even expectations. I may use this post to rub it in with a “told ya so MORE” 😉
I had gotten the number of EGCs from here https://www.worldcoinindex.com/coin/evergreencoin Should have checked and verified this from the EGC Explorer. But the essence of the calculation and assessment still holds true – that EGC is way undervalued as per most coins and tokens in the market.
I don’t know too much about technical analysis either. But a quick and simple look at the charts show that EGC has been on an uptrend. Rather quietly most of the time, except for that period early last month when traders suddenly jumped in. The support level is reasonably established – something which traders care a lot for. I strongly believe patience will be rewarded.
I am sorry WCI is unintentionally misrepresenting supply and thus market cap! I have contacted them and kindly asked for them to update the information. Many thanks for bringing this to attention! Happy New Year and thanks for sharing!
This has been corrected. 🙂
great analysis MC. Upward we shall go!
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