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RE: Whalestake Distribution Analysis : Are there Big Fish in this Little Pond?
I still can't even work out out what one WLS is even worth in real money.
I still can't even work out out what one WLS is even worth in real money.
The market for WLS is still pretty small so it's a bit illiquid with a buy sell spread of about 1.8 to 2.3 BTS which equates to about 13.5 to 17.3 US cents at todays (depressed) prices. This is partly due to restrictions on the size of power downs so most vested stake remains vested in these early days. You can see the market for WLS HERE
One of the other questions I asked at the Whaleshares Hangout was whether WLS would be listed on coinmarketcap.com and that is something they are working on. I calculate the market cap as close to $4 million USD which would put Whaleshares around rank 500 and that would make them worthy of listing. There is some costs involved with the listing and they need a certain daily trade volume to qualify. It'll happen in time but it's still a bit too early.
Thanks. I couldn't find anything on their price, which made me suspicous. The no power down thing is also suspicious, mind you.
There is a Power Down but it's just limited to (I think) 13% of total Whalestake and this % is gradually increasing. It's a stability mechanism to gradually open up supply of liquid WLS as the ecosystem grows. It makes sense and seems to be working to keep the price of WLS relatively stable so far.