C98 has returned to the issuance price area.
This Vietnamese token is perhaps the most criticized by the community. From Link's personal perspective, we should carefully consider whether we should criticize. The high price is simply because we FOMO after the market, while the funds investing in C98 sell at any price higher than the issuance price and still make a profit!
C98 was created in 2021, the peak year of DeFi and GameFi rising.
At that time, AXS was rising like a deity, helping Vietnamese projects gain high evaluations and a lot of FOMO.
But why does the price always drop after the listing period?
1. C98 Raising Funds from the Fund: this is what 99% of startups do to have capital for product development, marketing, and doing MM. When the founders are not wealthy enough, this is necessary to develop a project. And it is also a double-edged sword. Accepting that funds will sell tokens after they are unlocked. Of course, when doing business, one must make a profit. Investment must be profitable.
Members make the mistake of being extremely FOMO towards the funds.
Whenever I see this project or that project attracting many funds, I FOMO, and I always think that if the fund has invested, it has verified credibility and there is a 100% chance of profit. It is true that the fund makes a profit, but whether you make a profit or not is uncertain. The fund buys at seed and private prices, while you buy at prices after listing.
So don't have the illusion of comparing yourself to the funds. The positions are too different.
2. Tokenomics is built according to the trends of that year. Initially unlocking a small amount to keep supply low and the rarity of the token high to maintain a high token price.
The higher the price, the more FOMO members have, and the more profit the fund makes.
Then comes the vesting schedule, and the investment fund sells off. The project develops, but members cannot keep up with the speed at which the fund sells tokens, leading to price dumps.
When the price dumps, members start to complain. FUD.
Even fewer members!
3. Price drop due to the general trend of winter 2022
As winter comes, every coin will multiply by ten, not just C98; this is when the house closes profits silently under the guise of a general trend.
4. The project fundamentally has low expansion space. There is not much innovation and it does not create new trends to limit. It could also be that the team chooses like this.
So wait for the funds to finish unloading before starting to push C98.
5. The question is why Team98 does not support the price, does not buy back tokens.
Where's the money to buy? If sold, the price is low, and the price on the market is too high compared to the selling price. Where's the money to buy back tokens at this price?
Is the business team stupid or what? Selling low, buying high, and then suffering losses themselves. No business person would do that. Just accept being criticized.
Anyway, it's better to complain than to lose money.
6. KLINK has no C98 tokens, but if you complain, don’t blame all Vietnamese developers. Many brothers who don’t do anything are also blamed together.
Falling at the peak is due to my own stupidity in not researching thoroughly and being inexperienced.
#Klink also often criticizes itself for being very stupid!
Lose this game, play another; fall where you double at that spot. Stop the bickering. Sometimes losing money is good. Losing money makes us stop to reflect on where we went wrong. Why did we lose money?
In summary, ALL STUPIDITY MUST BE PAID FOR WITH CASH.
If you don't want to lose money, study more and become smarter.
