Quote:
Originally Posted by MrFeelNothin
Sold all my MCO after the Bithumb pump but bought back in over last two weeks ay various prices between $10-$12 and am now all in (50% of crypto roll.)
Closed beta of app getting good reviews. Worldwide open "beta" likely by next week. That is the immediate catalyst. Between publicity, momentum, and locking up of tokens to reserve cards I expect 50-75% increase in price.
Then you've got the potential for a moonshot if:
-Cards start being released
-Details of "strategic partnership" with bithumb are released.
GLTA gamblers!
Update: I read the tea leaves correctly on the open beta. Released to 20,000 customers and counting. Over 200,000 MCO tokens were "locked up" in the first 24 hours (for 6 months to reserve cards.)
However the market reacted with a resounding MEH.
Two takeaways:
1. The speculative prices for crypto are so far out of whack with any valuation based on actual product and usage that news on product development won't move the needle unless it stokes more FOMO.
2. The market views MCO as a debit card company so doesn't really care what they do unless they release the cards. I am basing this on the fact that their market cap is barely above Tenx even thoygh their vision and currently released app is miles ahead.
The card is actually only a small piece of what Monaco is doing. Through the app you can already buy crypto, trade it, send it, convert to other fiat currencies, and will soon be able to get credit to invest based on collateral- just need the card to spend at merchants.
My plan at this point is to hodl most of my stake in anticipation of a more gradual rise in price over next few weeks as the numbers of users and locked up tokens grow.