EDO - The Hybrid Wallet Exchange
I recommended EDO a few days ago. So far the coin has been up 30%, not much but the excellent news is that the team will destroy 500,000 EDO tokens starting from today to January 8th.
They collected these fees from the ETHLEND ICO and AIDcoin. I recommended LEND weeks ago and LEND has been up over 300% since recommendation.
Why Eidoo is burning tokens:
As they explained in the Ethereum Funding Informative Prospect, they are going to delete 50% of tokens from their services fees, including this ICO Engine.
Why this is good for EDO investors:
Total supply of EDO will decrease in number: the more the service is used, the more tokens will be destroyed.
This is great because just like in Stock buy back this results in less supply and thus the price goes higher.
This “buy-back and burn” system will help Eidoo to decrease the number of tokens in circulation on the market.
I recommend a Hold on EDO. I expect the price to rise substantially as the exchange is introduced and the technology is adapted by the masses.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
Thanks for this one! I just installed Eidoo app the other day, inspired by the LEND airdrop they are cranking out soon. Didnt know much more about it. Will look closer now. :)
NP! yeah it's def a sleeper at the moment but i think the tech is incredible behind.
So does that mean, the number of coins one has will decrease as the price rises?
No the coins you have you will continue to have the number in circulation will drop. Which should make the price rise. EDO has a very limited amount of coins which is great for high dollar prices. For instance if XRP was to go to 10 dollars it would make it a Trillion dollar market share. Seem impossible at the moment. But if EDO goes to 30 billion market cap the price will be around 450 dollars.