WBT Token. The first results and further development
Yesterday WhiteBIT listed the WBT token on its own exchange. The trading started at $1.9, which equals the value of 1 token on the launchpad.
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Now the value of the coin is $5, which is about +250% since its release:
WBT/USDT. TF 15 minutes (TradingView)
Trading volumes have gradually decreased. According to the chart, a purchase of 40K WBT (equivalent to $200K) moves the price by 15%.
The continuous growth is easy to explain – no one has tokens to sell. The coins are held by people who purchased them at the Public Sale (Launchpad) and those who bought them directly after the listing. The exchange and the team do not sell their tokens. On the contrary, they announced the redemption and burning to ensure the deflation of the coin.
The burning of WBT tokens. Announcement
The first irrevocable token destruction will take place on August 30, 22, with over 125,000 WBTs burned. Although 10 days ago, 25 million tokens were already sent to zero-address, at that time, the coins did not have a monetary equivalent and should not be considered.
Transfer of 25 million WBTs to zero address (Etherscan)
According to tokenomics, there will be 120 million WBTs on the market within 3 months. The information from Etherscan and Tronscan shows that there are 67 million tokens currently traded on WhiteBIT (66+1 million from the launchpad). It is logical to assume that the remaining coins will be used for listing on other exchanges. WhiteBIT CEO, Vladimir Nosov, announced on his Instagram that WBT would gradually emerge on 5 respected platforms.
The number of WBTs on WhiteBIT on the Ethereum network (Etherscan)
The number of WBTs on WhiteBIT on the Tron network (Tronscan)
Benefits like free ERC20 token withdrawals, referral bonuses, reduced commissions, and free AML checks are already available to WBT holders. In the future, the coin will integrate its blockchain, be used in the DeFI and metaverse sectors, and connect to other Layer 2.0 cross-chain networks.
Chronology of WBT development (Whitepaper)
What’s next, and how to make the most of it?
If the dynamics remain, the primary goal for the next 3 months is to increase liquidity. This is achieved by listing on new platforms and increasing trading volumes. It is necessary to ensure a liquid market so that private round unlocks will “dump” the price as little as possible.
The unlock chart shows that 54 million WBTs were purchased at the Private Sale with an average price of $1.62 per token. In 3 months, investors will receive 10.8 million tokens with the first tranche, most of which will probably be sold.
Therefore, it is more rational to make big purchases after the unlock when the price is the best. If trading pairs of WBT will be provided with margin collateral by December, this will allow speculating even on a decrease in the coin’s rate.
An interesting fact: there are 6 addresses in the Tron network, which have a total of 54 million WBTs. This is the same amount that the team allocated to Private Sale.
The off-loading of the private round should neutralize the sellers’ pressure. From now on, nothing will hinder the token, and new activities, announcements, and weekly burning are designed to start the process of the coin’s deflation.
The project looks quite competitive, despite the adverse market backdrop. The complete openness of the team, tokenomics, and clear plans of Whitepaper create a positive impression about WBT and future development, and the token itself seems attractive from the investment value perspective.
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