The first two days of MWC trading on HotBit - also, the largest trader of Grin and Beam – have been extremely successful; albeit thin, as until the airdrop commences December 11th, the only outstanding coins (aside from the PR/Dev fund, which is NOT for sale), are the handful of non-HODLed coins mined from the first 12,700 blocks.
Additionally, MWC withdrawals have not yet been enabled – as we were initially informed, that it would take around 48 hours from the commencement of trading.
Grin and Beam ran up very strongly this weekend, outpacing the entire crypto space – until the FUD-filled article about “breaking MimbleWimble’s privacy” was published Monday…which frankly, is comical that anyone paid heed to, given how inaccurate, and misleading, the information in it is. To wit, here are refutations by MWC Lead Dev Chris Gilliard…
…as well as Charlie Lee, and the Grin development team…
Consequently, Beam and Grin’s market caps are $27 million and $34 million, respectively, down roughly 20% in the past 48 hours. Moreover, along with the entire cryptos space, they are down 50%-60% from their June highs of $56 million and $87 million, respectively.
This, despite MimbleWimble technology having rapidly advanced since June - and discussion of the rapidly approaching “privacy debate” dramatically increased. In fact, two of the biggest MimbleWimble improvements since June were built by the MWC team – i.e., the industry’s most user-friendly Windows, iOS, and Linux-enabled GUI wallet, and first cold storage system.
Currently, MWC is trading on HotBit at roughly .00012 BTC, or just under $1 each. With about 8 million outstanding, that equates to a market cap of roughly $8 million, compared to the aforementioned $27 million and $34 million for Beam and Grin.
Given MWC’s scarcity, high stock-to-flow ratio, MWC HODL program, and zero cost for the six million being airdropped, we believe it is by far the most investable MimbleWimble coin. Thus, we see a significant opportunity close this valuation gap, particularly in the early stages of listing - when few are watching, and the airdrop hasn’t yet been launched.
FYI, HotBit is a fantastic exchange – with no KYC requirements, limitations on U.S. customers, or withdrawal limits.
The MWC airdrop registration ended July 19th and MainNet launched November 11th – with airdrop claims scheduled to commence December 11th. A total of 148,474 Bitcoin registered – roughly 1% of the entire BTC float - yielding an MWC/BTC ratio of roughly 40.41…and currently, it trades at HotBit.io. For more information, please check out the MWC website, Discord room, Twitter feed, and Telegram Forum.
Join us on MimbleWimbleCoin Telegram, too!