Ignis Price Prediction

in #cryptocurrency8 years ago

Ignis, a childchain of Ardor, will be released on 1st of January upon the main-net launch of Ardor. Investors suffered from NXT's huge price drop right after the snapshot. Hopefully the price of Ignis could compensate the loss.

My conservative expectation would be 7.5K sat, and optimistically 20K sat, excluding the exchange listing pump. Here are some reason's for my prediction.


1. The IGNIS Futures

https://coinmarketcap.com/currencies/ignis/

The IGNIS future price rose up to 20+ USD and is now around 9 USD. With extremely low market volume, this price is easy to manipulate. However this price has never gone down below 2USD for a while and this could be a positive sign for IGNIS future price.


2. The IGNIS ICO

IGNIS ICO was done over 5 rounds. Tokens were sold out until 3rd round but there were some left over from the 4th and quite a lot from 5th round. 

It was due to the steep token price gap between rounds. 

1IGNIS was sold for .75 NXT on the third round and was sold for 1.05 NXT on the 4th round. 5th Round price was 1.45 NXT. I did some calculation to adjust the actual ICO price of IGNIS. Third round (when all ICO tokens were sold) ICO price was .75 NXT. Buying the token from ICO takes away your opportunity to get IGNIS from the airdrop.

Thus the actual price people paid for IGNIS ICO was

0.75NXT + 0.375IGNIS. Calculating this brings you 1.2 NXT per IGNIS

Note that numerous tokens were sold for 1.05 NXT as well.

1.05 NXT + 0.5025 IGNIS were paid for 1 IGNIS, which brings you about 2 NXT per IGNIS.

Post-snapshot NXT price is around 4K-5K satoshi. Note that IGNIS were sold at 2NXT each. 


3. The Ardor Price

The market price of Ardor is also a good factor to predict future NXT price. NXT was around 2K sat at the time of ICO. Ardor was around 3K sat. ICO investors expect better profit from IGNIS ICO than holding NXT or Ardor. Ardor's price on Bittrex is around 11K. The investors invested approximately 0.7 Ardor for 1 IGNIS, so minimum expectation of IGNIS price should be 7-8K, if it is calculated this way. Ardor could be pumped after the main-net release, which is very likely since I've seen lots of pumps after the main-net release, so the IGNIS price expectation could be even higher.


All these indicators point IGNIS price to be high enough to compensate the price drop (14K-> 5K) of NXT. Yes there's some risk that bittrex might not list IGNIS for some reason but in my opinion, it is not so likely to happen. 

Happy New Year NXT / IGNIS and Ardor holders. 

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