Fractional Pennies | Table O Contents
Did you know the all time high for the Universa (UTN) coin/token was was a nickel USD! …
- Fractional Pennies | Table O Contents
Note. The Flammarion Logo Badge in the page header above is an .svg image file set to the dimensions of 5% width, auto height, and zoom. Go ahead and test the zoom-out feature by hovering over the badge to engage the expansion of the image from your desktop.
TGE
Hint. The author was granted a Fifty (50)
coin/tokenblock of (UTN) in Dec 2017 @ $ 0.0056 USD …
The original coin/token float or Token Generation Event (TGE) of 5,000,000,000 “tokens” x $0.0056 USD netted the Universa Foundation approx. $28,000,000 of capital raised.
Grant Value Plus
In Feb of 2018 (after the TGE of Dec 2017) UTN “tokens” started trading @ $0.05, or a nickel USD.
But, the author did not sell.
I decided to ride this one out for the “long” run.
Question
Has the Universa Foundation spent (55%) of its capital constructing the underlying blockchain over the past 4-years time?
Or, are the “tokens” now simply selling at a discount?
Current Market
The (UTN) coin/token is now trading at 1/4 penny USD = $0.0025 per “token” per Coin Gecko.
The current market cap of (UTN) as of this writing is 5,000,000,000 “tokens” x $0.0025 = $12,500,000 market value.
Solution
If you run the Universa uniclient --network switch from a Terminal window or a Docker container you’ll see approximately 33-nodes ready to register your smart contract.
So, we have underlying blockchain viability and the node-owners are being compensated with fully-charged (UTN).
Note. The gas or “U” required to run your smart contract can be converted from your wallet of (UTN) “tokens” thus wiping the “energy” from your spent “tokens” and making them available for re-issue “fully charged” to the node-owners that register your smart contracts thus keeping the floating supply relatively “fixed”.
How’s that for a feedback loop?
Bottom Fishing
The current market value of my (50) coin block is:
50 x $0.0025 = $0.125 USD
Original Tax Basis
The original cost basis of my “granted” block of 50 coins/tokens a-way back in Dec 2017 was 28 cents USD, as follows:
50 x $0.0056 USD = $0.28 USD
Paper Gain or Loss
Calculating the loss:
$0.28 - $0.125 = ($0.155)/50 = ($0.0031) Loss per `coin/token`
Doing the Math
5,000,000,000 x ($0.0056) = $28,000,000
5,000,000,000 x ($0.0031) = ($15,500,000)
-----------------------------------------
= $28,000,000 - ($15,500,000) = $12,500,000
Reconcile
5,000,000,000 × $0.0025 = $12,500,000
Note: The current market value equals what is left over after deducting the aggregate loss from the original TGE.
Percentages
$15,500,000/$28,000,000 = (55%)
Note: The Universa (UTN) “token” has lost “on paper” approx. (55%) of its original value since inception.
$12,500,000/$28,000,000 = 45%
Note: The Universa (UTN) “token” has a current market value “on paper” equal to approx. 45% of its original value since inception.
The Price of gas
$0.0033 USD × 250,000 “tokens” = $825 USD
If the all-time low was set in July of 2020 @ $0.00005 USD or 1/20,000 of a penny USD per “token” …
Then, if I sell at that level I will create a capital loss of ($812.50), as follows:
Bot: 250,000 "tokens" × $0.00330 = ($825.00)
Sld: 250,000 "tokens" × $0.00005 = $12.50
-----------------------------------------
= ($825) - $12.50 = ($812.50) capital loss
That should give anyone thinking of whether or not to purchase more “tokens” at the current level of 1/4 penny USD some pause.
Why?
Because the UTN-token has traded far below 1/10th of a penny USD over the past 4-years since inception …
So much so the coin/token hit an all time low of 1/20,000 of a penny USD in July of 2020!
Fibonacci Levels
The current market of $0.0025 USD is right around the 50% Fibonacci retracement level from the all time high of $0.05 USD.
However, calculating the 78.6% Fibonacci retracement level from that hight nets a price of approx. 1/10th of a penny USD.
And, further … the 88.6% Fibonacci retracement level sits around 3/5000 of a penny USD!
Note. Fibonacci retracement levels were calculated using the UTN-token starting level of trading in Feb of 2018 at a nickel USD.
Suffice it to say (per Coin Gecko) the full trading range of the (UTN) “token” has been …
Since inception …
$0.05 USD or a nickel USD per “token” at the top in Feb 2018 …
All the way down to $0.00005 USD or 1/20,000 of a penny USD per “token” 30-months later in July of 2020.
Note. The author recently paid $0.0033 or approx. 1/3 penny USD for my first block of 250,000 “tokens” that will be used to register smart contracts via the underlying Universa Proof of Stake blockchain.
Chart Chatter
If you look at the “max” chart on the price movement of the UTN-token over at Coin Gecko you’ll see the “dead cat” bounce from the July 2020 bottom (1/20,000 of a penny USD) after the Feb 2018 top (a nickel USD).
Downtrend
If you look at the lower “highs” and the lower “lows” you will see we are currently entrenched …
In a sideways-downtrend channel on the way to testing the July 2020 “all time low” of 1/20,000 per penny USD.
Or, at the least …
The upper bound of the ideal “whale sweet spot” at the 78.6% Fibonacci level of 1/10th of a penny USD.
Will we achieve that?
Who knows? That’s what makes Crypto coin/token trading such a dangerous adventure!
Note. The lower bound of the ideal “whale sweet spot” is at the 88.6% Fibonacci level of 3/5000ths of a penny USD.
The Nadir
In July of 2020 (a year ago this month), the UTN-token got slammed with mucho supply during the Covid-19 pandemic driving the price per coin/token all the way down to $0.00005 USD or 1/20,000 of a penny USD.
That’s WAY LESS than the 78.6% Fibonacci retracement level of a 1/10th of a penny USD!
Work’n in 1/10ths
$0.001 USD is a 1/10th of a penny.
The market for UTN-token is currently at a 1/4th of a penny USD.
I bot my first block of UTN-token at a 1/3rd of a penny.
$0.0005 would be a 1/2 of 1/10th of a penny, or 1/2000 of a penny!
But, here …
We have to add another zero to achieve the lowest price the (UTN) “token” has traded at since the Feb of 2018 market top.
Which just so happens to be the first day the UTN coin-token began trading on the open market!
Slam!
The Bottom Line
$0.00005 = 1/20,000 of a penny USD!
If you are planning to utilize the Universa-blockchain to register your smart contracts at some point in the future …
Then a purchase here at these levels below 1/2 penny USD can be justified given the price of “U” (the “gas” unit that drives the underlying blockchain) will be kept relatively stable per the Universa Foundation.
However, if you are simply purchasing the UTN-token as a speculative trade please understand the risk of having to sell at 1/20,000 of a penny USD per coin/token!
How to Purchase
Purchasing on the open market can be done via the Bilaxy Exchange.
But, you must first transfer in some USDC “stable” coin from your Coinbase [1] account and convert the USDC to a like amount of ETH.
Then, and only then …
Will you be able to enter a bid to purchase additional UTN-P using your ETH balance as a source of funds.
In effect, a swap of ETH for UTN-P.
Final Food For Thought
Is this a wise move given the many reported projects the Universa blockchain has been involved with to date?
Do you think the Universa-blockchain will still exist in the year 2027 one-decade past the company’s TGE?
How much of the original $28 million USD raised from crypto-investors is still there “in the kitty” at the Universa Foundation?
And, how much has already been spent?
Note. The above synopsis was derived from the chart service at Coin Gecko [2].
Support
Please support the co-workers who aggregate the Source Links for our projects.
Patreon
Like what you see in this project? If so, then support the authors and machine-elves who aggregate the source links and pages for our projects via Patreon.