Yesterday, I discussed how MWC’s airdrop claims process has been a complete success, with just four days left until the January 2nd deadline.
For the past six months, the crypto market has been in a powerful bear market - yielding significant declines of all coins, including fellow “MimbleWimbleTrinity” coins Grin and Beam; thus, causing MWC to launch at a sub $10 million market cap, despite the incredible promise – and NECESSITY – of MimbleWimble technology.
Consequently, the reward/risk profile of the “MWT” is extremely high – especially MWC, the most attractive MimbleWimble investment vehicle…which trades at the lowest valuation, with its airdrop claims process nearly over, and HODL program about to begin.
The beauty of prices so low, especially in a cryptocurrency with such a bright future, is that HUGE amounts of the float can change hands for TINY amounts of Bitcoin. And in a coin like MWC, with only 8.1 million outstanding (MOST of which, will end up in the HODL program), the float can significantly tighten if just a handful of investors spend a few BTC, to a handful of “maximalists” selling indiscriminately.
As discussed yesterday, the actual amount of selling, of the 5.3 million MWC claimed thus far, has been incredibly small – quite bullish, as this a FREE airdrop; of something a significant amount of recipients have no interest in; amidst extreme bear market conditions. Moreover, the largest sales we’ve seen – that have been readily absorbed on HotBit (often, by “hidden bids”) – have been just 10,000 MWC or so.
For MWC, 10,000 is a significant amount, representing a material amount of the total supply of 8.1 million – and a VERY significant amount of the “non HODL program float”…as likely, 90%+ will be passively held, to receive very significant MWC HODL rewards. And yet, at price of, say, .00009 BTC, or $0.66/MWC, all one gets for 10,000 MWC is 0.9 BTC, or $6,600
To that end, consider that there are just two ways to have acquired 10,000 MWC. One, to buy it on HotBit – and I assure you, those who JUST bought such size, mere weeks after launch, are not selling it back. And two, claiming it in the airdrop – which naturally, is where ALL the selling emanates from.
The thing is, of the SIMPLE MATH noted above, is that at the airdrop rate of 40.41 MWC for each of the 148,474 BTC registered (roughly 1% of the entire BTC float), to have acquired 10,000 MWC, one would have to have registered 10,000/40.41 = 247 BTC, worth $1.8 million at current prices. In other words, a very well off holder, that hardly needs the extra 0.9 BTC, to increase their holdings by 0.3%, from 247.0 to 247.9.
So, when you consider that by simply holding MWC, you can not only compound your holdings SIGNFICANTLY in the HODL program, but participate fully in MimbleWimble technology development, it makes it even more unlikely that material selling is likely at such prices – ESPECIALLY if indeed, the crypto market is on the cusp of a new bull phase (VERY likely, with the BTC halving rapidly approaching).
Not to mention, MWC is the PERFECT HEDGE against any disruption MimbleWimble growth might have to Bitcoin – as unlike “big blocks,” for instance, it is MimbleWimble possessing the superior blockchain technology.
Not that MW can assail Bitcoin’s store-of-value dominance, of course (which could one day be SUPPLMENTED by MimbleWimble incorporation). However, if – or should I say, when – the inevitable “privacy debate” commences (which in fact, will be a privacy/scaling/fungibility debate), you’ll likely be VERY happy to be holding your FREE MWC!
The MWC airdrop registration ended July 19th; MainNet launched November 11th; and airdrop claims commenced December 2nd (5.3 of 6.0 million claimed already) ending January 2nd…at which point, details of the “MWC HODL” rewards program will be announced. 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.
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