The reason people like ELIX is not due to the project itself (Which is a shitty webpage and a video demo), but because the extremely low coin supply (3 million) on coinmarketcap gives it a marketcap far below its rivals. A lower marketcap means much more room for growth: it's the difference between buying a hundred dollars of bitcoin when you could buy a bitcoin for a dollar, versus buying when the price is near $5000. But ELIX's marketcap is far, far higher than you think it is, because there are far more ELIX tokens than you think there are.
The real coin supply right now is the total supply 15 million, not 3 million, and so the marketcap for ELIX is 5 million, 5 times what it lists as. It's no longer a bargain at all.
And not only is the current supply far larger than you think it is, it's growing by the minute. When I bought in at 1.4k sats there were 11 million coins, there are now 16 million only a few days later. At this rate it will be 20 million by the end of the week. The coins are being made as fast as they can and dumped on coinexchange, which is why the volume on Coinmarketcap is higher than the actual value of the coin itself. The actual supply may reach 60 million. If supply will reach 60 million shortly, the actual market right now is 22 million, and what you think is a bargain is nothing of the kind.
If you want to try and ride another pump, there may very well be one, but if I've figured this out, I imagine other people have as well, and when word gets around there will be a nuclear-level dump.
When I started writing this post, by the way, there were 15.5 million ELIX in total supply. There are now 16 million, and by the time you read this it will likely be even higher.
It's because of EXOR to ELIX transfer I have read this on Bitcointalk: There were 2134 genesis address, and since total supply is already at 15,605,404 so roughly 1200 genesis address already used. Remaining is ~900 , it will add around 12 million. May be few wait longer but those will be very few. so total supply will hardly reach 30 million.
Gavin Allen
thank you user you are a gentleman and a scholar.
point is even at 30mil max supply and 1 USD its still the cheapest fintech coin with so much potential.
Ayden Hughes
soooo i should buy more?
Henry Long
i bought more
Lucas Jones
Kek
Asher Butler
holyshit they made a beautiful interface, the app is still a non functional MVP but I just bought 100k
Tyler Cook
IT'S SHOWING SIGNS OF FUCKING CRASHING NOW OMFG
Carter Diaz
It is going to crash once the lower IQ level sewer dwelling retards catch on to what OP is talking about, although that might take a few more hours. The flash crash a few minutes ago was the smart money packing up shop.
Ian Morgan
You see massive sell walls form for 4 - 5 btc, the price drops in a panic, the seller withdraws the btc sale and then we creep back up. I have seen this several times over the last few days. This is someone or someone's driving down the price to buy more when it falls. This is an accumulation strategy, not a crash.