Over time I have become committed more and more with the CTP tribe and I really like the way it is developing. Not only is there a deep sense of helping and supporting each other, there are also other mechanisms in place that are very interesting...
The price development
A couple of weeks ago I managed to buy CTP token for 0.02 Hive. Now the price on Hive-Engine is somewhere above 0.06 Hive. Which is an increase of around 300%!
Is this increase sustainable?
When I look at CTP talk, I see that almost 89% of the token is staked. Only around 11% of the token is in circulation. This means that the offer is quite limited. At the same time I see a rise in demand for several reasons:
Epic Firewall Giveaway by @elianaicgomes
With prices worth around 250$, this has generated quite a lot of demand for the token. Since the prices will be paid in CTP tokens, these have first to be earned or bought. In addition to that, these tokens have to be hold in liquid form till the end of the contest. This means that some of the liquid tokens will be blocked until August 1st. Since the people competing for the prices are quite committed to the CTP tribe, I believe that these tokens will be staked after that.
Myhivegoals pushes people to stake CTP tokens
Thanks to the challenge of @robwillmann, a lot of people started to actively set goals to reach and many are setting goals for the CTP tokens. This is increasing the demand for buying and the staking rate of the token.
Burning CTP tokens
I'm not totally sure about the modalities of it but I believe that I heard somewhere that @jongolson is using some of the proceeds of the sales on his websites to buy and burn CTP tokens. This decreases the liquidity of the token and additionally increases the demand.
Increase of awareness for the CTP token
It's interesting to see how the more and more people on Hive are getting interested in the CTP community. I've seen a post by @uyobong where he declares that he ads the ctp token into his portfolio. Then I believe that @flaxz and @bradleyarrow are doing a tremendous job with the #Iamalivechallenge. Many users of this challenge are starting to use the CTP tag in their posts. All this means that the token is starting to be spread more and more which is really positive. Probably the awareness is also encouraged by the fact that the token price is developing so nicely.
How do I see the token in the future?
When I look at all the reasons above, I believe that there are many ingredients that tend to stabilize the price of the token. I even believe that the price might develop positively even further. For me it's clear that I will try to continue to build my stake in CTP.
Even if @jongolson is trapped with a low speed internet connection at the moment, I believe that the community is doing great. The minnows are slowly but surely growing into dolphins:
The Dolphin Swarm Project Ranking (03.07.2020)
Orca
| User | HP |
|---|---|
| @jongolson | 63'688 |
The Dolphin Swarm
| User | HP |
|---|---|
| @ph1102 | 13'826 |
| @iamraincrystal | 5'753 |
Candidates for the Dolphin Swarm
| User | HP |
|---|---|
| @flaxz | 4'726 |
| @achim03 | 4'273 |
| @rezoanulvibes | 3'524 |
| @blainjones | 3'249 |
| @pixiepost | 3'027 |
| @bradleyarrow | 1'479 |
| @globetrottergcc | 1'147 |
| @elianaicgomes | 1'026 |
| @howyf2 | 988 |
| @russellstockley | 820 |
| @r1s2g3 | 806 |
| @robwillmann | 513 |
| @lisamgentile1961 | 467 |
| @rcaine | 440 |
| @maddogmike | 410 |
For the Dolphin Swarm Project Ranking, I've ranked the users that regularly post on CTPtalk and that have at least 400 HP. I probably forgot some people and I'm sorry about that. Please write a comment so that I can include you into further rankings.
Let's connect on Hive, Lbry or on Publish0x
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