Bitcoin Forum

So after long time couple of days ago Binance announced their new launchpad for Space ID token. Before that Space ID announced platform to check Airdrop eligibility for their early users. So if you are person who brought spce id domain names long ago right now you got at least 90 -240 id token airdrop. Also if you own two or more than domain names, their OATs then you may have bigger airdrop.

What is this space id?
Briefly it is a web3 domain name register with multi chain name service. Right now we know this only.

Should I invest it?
So most people are not got the airdrop. So they want to get somw ID tokens. But for me this is not a project that having long term survival plan right now. Because they only have social media hype. So my advice is don't buy it from exchanges when trading open. Just wait till the airdrop tokens are sold out. Because there can be a huge price drop future in this token as i can see according to fundemental background of this.

Only good thing in this project right now is a social hype and bigger community like shiba inu. So remember to play smart not greedy. Because you are risking money that you gain by hard working.  :)

Investing in crypto currency tokens is a personal decision, one that is made after you have conducted your researches, varied the options; figure out an entry and exit price for the token investment. In respect to space id, my personal opinion will be to wait for the token launch to exchange platforms, wait for airdrop participants to dump their share; then you can ape in on a platter of Gold

maybe you have to set aside some of your money to buy space id tokens when new tokens are listed on exchanges i think space id tokens have the potential to fly higher maybe one of the factors space id is binance launchpad this is not investment advice always do research before buying tokens  it stay safe.

Good luck though and for those who are going to invest on such a hype. To be honest I'm not familiar with Space ID token, but anything that is coming new to the market, I would say it's good until the hype died down.

And the timing though, ware in a bull run right now so obviously, market are very lively and they could get a couple of investors.

As for what the OP should do, then just hold or if you really believed in this project they buy more and see how it goes for you.

It is obvious that Binance Labs is an investor in this project. Accordingly, when all those who wanted to sell the ID sell, Binance will buy coins at a reduced price, after which we will see a pump. There is no doubt about such a scenario, as we have seen it many times already.

Yep. First day of trading is always a "take profit day" for smart money and insiders. Who else would be selling if no one has coins yet? As bnb holder i always dump new lauchpads for more bnb. Most of the cases i did a great deal because of the future 20-90% dump. Only few went up like crazy outperforming market (like axie or matic) but most of the time you can buy it with discount 1-10 weeks from listing.

Do you know how many Name Service crypto projects are already out there? This is only going to favour those running after hypes, I don't want to invest in such project and hold, you can buy and sell in short term if you like, the use case is just too common, the difference here is Binance will be launching the project.

No! When you say invest, it usually means long term. Rather trade with it, take profit and never trade again. That's what we usually do with such kind of useless tokens. The creators of such tokens create a huge marketing hype, list it in an exchange, when the price reaches an optimum level, they sell off their holding and make millions in profit. That's the usual practice you should also follow.

Never ever keep your money invested in such tokens, ever!

Those who are lucky are those who join the Binance Launchpad because they get a multifold increase in the price of selling tokens on Binance and after listing the price is high but we buy when trading is open I don't think that's a good thing because the price can go down and it's impossible to go up more optimally again, still don't be FOMO or greedy because of other hype we need to prevent our money from going out just to buy this ID token and make sure you know about the airdrop disposal later.
I don't think it's worth investing in now.

Yet another web 3 domain, I can't recollect how many free name services I've generated since last year, this is just another, there is nothing too serious about the project and it could dump further later on, the supply is 2B and it's trading for 0.4$ right now, way overpriced for a project with a such use case, I don't want to judge, too early to predict or tell.

It's true and I think it's good advice that investing in crypto is very speculative and can be risky, something new, there are many factors that must be considered foundation, fundamentals and if I have seen whether Fully Diluted Market Cap already exists then I will enter,

I'd say wait until the price falling significantly first, too much airdrops meaning few hours after listing everyone just gonna sell their token massively.
that means it could be chance for investments, even though I don't know whether the project has planned something to contain all the dumpings from the airdrops but it'd still have higher chance of dropping in valuation.

that's the usual scenario. after few days of listing, the price significantly drop. lucky if you can even get the 50% of the initial listing price. just like many other tokens, for me, their lifespan is not that long. give few months and you will see how much they drop from their price. if you miss the good price, high likely that you won't sell your tokens higher than your buying price. so better not to be agitated with the hype. plan accordingly.

Usually will drop significant after few days listing and seems worth for trader or investor participating on launchpad, but Binance is difficult for lower budget joining with their launchpad due little reward allocation and have monopoly working system for the investor have much fund will get bigger allocation for Space ID coins launchpad.

Last time I checked price above $0.4 and worth because launchpad price with $0.025 but have limited allocation for all user, not really recommended for reinvesting right now because coins Space ID have pump drastically from their pre sale price with $0.025. Its seems good waiting if price drop after all investor or launchpad participants selling their coins for getting lower price.

Many have got airdrops, and one of my friend have got 240 tokens. This is something valued around $100 based on the current price on coinmarketcap. This is really good, as mentioned the high price reached on the day of listing will slowly fall back allowing users to invest on it. As the token is associated with the Binance exchange we can expect this to have better growth than many other tokens than doesn't stay strong on the market for much longer time period.

Some do able to last and some do ends up on being delisted which means that everything matters on the demand in the end of the day.We've seen coins who do came from launchpad to be increasing its price for how

many folds but whats the key on here is to look on whats the use case of this project which would really be the main indication whether it is really that something worth to be hold or not.

The hint is already there because we know that being listed and traded in binance does significantly means that the project does have the potential but of course
it isnt always the end point.

You've said it right that this project and the others that have been trending lately are all based on hype. Just like what we've learned in the past with meme coins, these hypes are not going to last a long time and that's why those that have received their airdrops from it and someone eager to buy it because of seeing people making free money from it, it's better to preserve your capital and invest elsewhere which is something better. While if you'll think about it, the airdrop will be mostly dump and if you have that trust on this project to catch the falling knives then you know what's in it for you.

You should know way better than us whether to invest on this coin or not, even with the great interest that exist for the market of cryptocurrencies it is impossible for every single one of us to have a deep knowledge about every single coin being released, so if you are watching this coin you should know if it is a good coin to invest or not, but after a quick glance I can see the coin has gone down more than 50% during the last 24 hours, and this is not a good sign for those that were expecting to make money with this coin due to the hype that exists currently on the markets.

Observing the project for a long time, I think the hype here is understandable, first of all, to talk about SpaceID's potential, I have to admit that it will be one of the most interested areas in the market.
Perhaps everyone will have a different way of assessing the benefits and risks, so I see here that the valuation needs to be revisited here, basically I think the use cases are too clear and a lot of partners are working together. they build a more convenient ecosystem. And also remember that they have Binance behind to support, so no need to be too skeptical, those who believe in the project will still accompany and I think each person will have a suitable strategy

the launchpad price is $0.025 and the current price is $0.42, in my opinion those who follow launchpad have made a big profit, but if you want to invest in Space ID, maybe you need to wait, because today the market is not good, so I think the price Space ID can decrease below $0.4 and that is the right time for you to buy Space ID, because I can see on the chart of Space ID if the price has ever touched $2.5 (even if only briefly), so I believe that the price of Space ID might increase above $2.5 in the future.

I agree with your opinion, because investing in cryptocurrency must be our own decision, so we cannot follow people's recommendations to invest in cryptocurrency, but we can use people's recommendations to do research (DYOR), so that we can find out whether it is worth to investing or not.

Space ID is one of Binance's baby and I believe they want it to succeed, they will pump the price now to attract retail investors before they start distributing it to retailers, I love the project but for now, the risk to reward is low, remember the team also airdrop some of these tokens to their users and I believe most of these tokens are going to be dumped on the market. For me, I will wait and let the price bottom before buying or just DCA your investment

I appreciate your decision. Before investing you may know about the new altcoins and their destination. How long they can survive? After all if you observe all the issues carefully and invest then you can get good return. The market is not stable yet so should be very careful about altcoins.

I think there is no way for us to tell if how long a coin/token can survive but we are only speculating here depending on what we see on them or on their qualities. If we think they have a good quality then they might last long or a little longer, if not then we can still invest on them for a short time only, if we want to reap quick profits straight from the hypes that they are getting.

If you observed them carefully and found out that they have issues, will you still invest on them? That's a suicide because for sure no other people will do the same thing. Stable market or not. There will always be risks in newer projects, so always take extra precaution with them.

It's a pity I didn't participate in his launchpad in binance, I was lucky to participate in the space id in his launchpad in binance, they made a lot of money because its value is high now. Then more than 103k participated in what space id did. I hope there will be another token in binance that will have a launchpad so that I can experience making good money here in the crypto space.

Then that explains why the price began to go down the movement it was released to the markets, the coin was being traded for a price much higher than the price at which those tokens were sold, and anyone with some modicum of common sense will know that this was the moment to take their profits and avoid waiting until the coin began to lose value at a significant speed, and this most likely means that it is going to be difficult for the coin to recover at the moment as almost all its early investors will be interested in selling soon.

Thanks for sharing the news about the Space ID token airdrop. It's great to see that some early adopters were able to benefit from this opportunity. However, as for investing in this project, I would caution against it.

Space ID is a web3 domain name register with a multi-chain name service, but it doesn't seem to have a long-term survival plan at the moment. Its value is mostly based on social media hype and a big community, similar to Shiba Inu.

In my opinion, it's not wise to buy this token from exchanges when trading opens. Instead, it's better to wait until the airdrop tokens are sold out. There's a possibility of a huge price drop in the future based on the fundamental background of this project.

Always remember to play smart, not greedy, when investing in crypto. You're risking your hard-earned money, so it's important to be careful and do your research. NFA DYOR