Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all.
Airdrop participants did not actually receive much and only a few got the tokens too and mostly from the bitmax listing candy airdrop and I doubt if it will be able to dump the price. although there were only a few Airdrop tokens, the price went down. That surprises me. Did Private Sale participants sell their bonus tokens? That would surprise me, but in times like these everything seems to be sold immediately:-) The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest. The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019. Right. I remember having this conversation with a friend of mine when they listed on Huobi and announced that there won't be any public sale. Investors don't invest in the token sale just to sell off the moment the token gets listed (in most cases), so, I really questioned the move of selling the token through exchanges, I had a feeling it might backfire but I hope it doesn't because I am always rooting for COVA. Well, some investors do invest in a project and dump after it hits the exchange, even doing the airdrop days, they buy more with the hope that it will yield some profit when it gets listed, they are not interested in holding the token, i'm not generalizing this though but its a fact, i think not having a public sale was a wise move as it helps curtail some errors associated with airdrop Well, no offense but I don't think those people can be categorized as investors. They did buy some token, yes, but that definitely does not qualify them as investors (sounds funny, I know) but mainly such character is exhibited by people who got the token for free and have nothing to lose. Yea, i'm not saying they are true investors but for the fact that they invested something in a particular project, still makes them investors because their funds where used in the development of the project, one way or the other, even though they are more interested in dumping than holding, we have different categories of individuals and they have there preferences |
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Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all.
Airdrop participants did not actually receive much and only a few got the tokens too and mostly from the bitmax listing candy airdrop and I doubt if it will be able to dump the price. although there were only a few Airdrop tokens, the price went down. That surprises me. Did Private Sale participants sell their bonus tokens? That would surprise me, but in times like these everything seems to be sold immediately:-) The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest. The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019. Right. I remember having this conversation with a friend of mine when they listed on Huobi and announced that there won't be any public sale. Investors don't invest in the token sale just to sell off the moment the token gets listed (in most cases), so, I really questioned the move of selling the token through exchanges, I had a feeling it might backfire but I hope it doesn't because I am always rooting for COVA. Well, some investors do invest in a project and dump after it hits the exchange, even doing the airdrop days, they buy more with the hope that it will yield some profit when it gets listed, they are not interested in holding the token, i'm not generalizing this though but its a fact, i think not having a public sale was a wise move as it helps curtail some errors associated with airdrop |
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The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest.
The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019. You're right, selling at this moment doesn't make sense, though individuals may have their various reasons or priorities but the fact is, this is just starting and its not just a brand that will create and sell their product/services the next day, it will be a continuous thing since it has to do with internet protocol and the development of security measures People panic sell, it's been a poor market recently and some investors might have held tokens for a long time. Maybe now that the tokens are listed on exchanges it has allowed these investors to free up some liquidity by cashing in earlier. You're right this project has only just really started to put the gears in motion and get their internet protocol ready for release. There are big things in store for COVA, people just need to keep faith in the team. This is a possibility, sure. But I still have doubts that these institutional investors from the private sale started to panic. Maybe it's really airdrop participants and people who got COVA as a voting reward that are selling right now. I agree with you, the fact is, private investors invest huge capital and as such, they won't just sell without thinking of the consequences or without making a fraction of profit from their investment, so they usually hodl because they know what they stand to gain and how negative it will affect them as individuals if they decide to panic sell |
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The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest.
The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019. You're right, selling at this moment doesn't make sense, though individuals may have their various reasons or priorities but the fact is, this is just starting and its not just a brand that will create and sell their product/services the next day, it will be a continuous thing since it has to do with internet protocol and the development of security measures People panic sell, it's been a poor market recently and some investors might have held tokens for a long time. Maybe now that the tokens are listed on exchanges it has allowed these investors to free up some liquidity by cashing in earlier. You're right this project has only just really started to put the gears in motion and get their internet protocol ready for release. There are big things in store for COVA, people just need to keep faith in the team. I do agree with you, just like i stated its a constant process of implementation, with trials and error till they get it right, the project has also been made open sourced which will create an avenue for continuous addition of features from various developers, so the growth of features will never stop and i oblige the team to keep up the good work and ensure that they don't disappoint the community |
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Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all.
Airdrop participants did not actually receive much and only a few got the tokens too and mostly from the bitmax listing candy airdrop and I doubt if it will be able to dump the price. although there were only a few Airdrop tokens, the price went down. That surprises me. Did Private Sale participants sell their bonus tokens? That would surprise me, but in times like these everything seems to be sold immediately:-) The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest. The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019. You're right, selling at this moment doesn't make sense, though individuals may have their various reasons or priorities but the fact is, this is just starting and its not just a brand that will create and sell their product/services the next day, it will be a continuous thing since it has to do with internet protocol and the development of security measures |
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Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all.
Airdrop participants did not actually receive much and only a few got the tokens too and mostly from the bitmax listing candy airdrop and I doubt if it will be able to dump the price. although there were only a few Airdrop tokens, the price went down. That surprises me. Did Private Sale participants sell their bonus tokens? That would surprise me, but in times like these everything seems to be sold immediately:-) The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest. The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens. Yea, top investors are actually the key to the down or fall of any brand, investment is risky and they must have looked into Cova before investing, i mentioned some notable brads that have already invested much in Cova and for the fact that they have invested huge amount will make them not to have that mindset of dumping |
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I'm really hoping that we see a lot of announcement for partnerships i'd love to see some effort to maybe partner with something like brave to integrate the tech into that kind of platform perhaps further down the line once ease of use and accessibility are in a good state.
yeah, partnership is going to push COVA to great height i would advice they secure more partnership and also get more activities on their social media They already have strong partnerships. For example, they are part of IOST/Bluehill and have just recently signed partnerships with Palatine Analytics and Perlin. But yeah, the more partnerships the better and the faster adoption can take place. Yes, i was saying something about this today, Cova is gradually building a network of partnerships and just as they stated sometime ago, much is till coming up, so i believe they will have more partners coming in, especially when they start providing the needed services that will help in the protection of data and just as you stated, adoptation will much easier as the partnership increases |
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I get the feeling theirs a lot of new money getting into the project since the 2 new listings, and the airdrops structure makes it also really well done to drive sales of tokens as well to unlock the airdrop which i think was a really smart way of handling it
You can check up market cap of Covalent on crytorank for daily trading volume and market cap. They got listed on cryptorank a few weeks back. Btw bitcoin and most altcoins prices has been going up, Since COVA is listed, it’s volume and price would keep pumping. It’s best time to get more cova tokens because it’s low. COVA Airdrops was a nice idea from the team. It helped build a solid community. Btw I think there should be a way to keep airdrop in check to prevent price dump by airdrop hunters. What I thought to and it will also give them good trading activity and volume on bitmax. I hope huobi will be able to follow the steps of bitmax. So on the one hand you are saying that the airdrop helped building a solid community, and on the other hand you are saying that airdrop receivers should be restricted from selling? How many tokens did Airdrop participants get anyway? I doubt that they can really "dump" the price. The tokens are only trading a few days now, it just takes some time for the price to stabilize. I’ll say the prices is pretty stable when you compare that with the market trend. Also, most airdrop tokens are locked. Last one on BitMax was locked just to keep a stable price. Although USD Value is a little lower, Eth and btc value is higher Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all. One of the rules of economics is to make means of exchange scarce, as an excess supply will deteriorate the value of the given currency or brand, so its not all about demand, its about balancing the supply and not make the token become a shit token, the number of users will not ultimately be the key issue to determine the viability of a project if the supply is excessive |
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It is just ideas, original ones. From which, there are so many things need to be done in order to turn all these innovative ideas into real apps, services. So, I propose all you waiting for more days or even weeks before making judgements on the project. Of course, at first glance, it looks good. Of course we have to wait until Cova has really started. This is like with all the other ICOs, we "only" buy promises and hope for the best:-) But at Cova these promises sound very good, so I look positively into the future. This is true to an extent, I think we buy ideas and not promises also, I think it is the same with every start ups or projects that needs funding, not only ICOs. But like you said COVA has a very solid use case that can easily sway people even without a "pitch". I think they have somehow surpassed the extent of attracting investors into their brand, initially when they started, in a matter of weeks, some huge amount of investment was made by some notable brands, that went a long way in boosting confidence and bringing Cova into the limelight, so i think they have made their concept clear enough to attract such investment |
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I am not sure if it has answered anywhere before but does anyone of you guys know how Cova will monetize their platform? I mean, right now they have still funds from the private sale but how will they earn money once the protocol goes live?
That’s a good question. I always wondered why a Smart Internet Protocol would need a token. Although, it’s all protected and users still got control over personal data. Why does Covalent internet protocol need a token? I think the application of tokens is not for a financial transaction but act as a fuel for smart contract smooth execution, so I think Cova is going to generate revenue through that plus you also aware that their virtual machine is personalized to work with their system. I really doubt if they patent the CovaVM Having a process that will act as a catalyst to the building up of the value of the brand is what every project team tends to achieve, having a token is one of those means and there are other ways of which the tokens can be used of which i stated something, one of which is a marketplace that they tend to create, probably to help with the protection of data |
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I am not sure if it has answered anywhere before but does anyone of you guys know how Cova will monetize their platform? I mean, right now they have still funds from the private sale but how will they earn money once the protocol goes live?
That’s a good question. I always wondered why a Smart Internet Protocol would need a token. Although, it’s all protected and users still got control over personal data. Why does Covalent internet protocol need a token? Actually, Cova is not just all about internet protocol, though its their primary concept but they also said something about having their own data market place if i'm not mistaken, so i believe they will have some sort of use for their token after all, its a gradual process and i believe with time we'll get to see multiple usage of their concept Okay, then it would make sense that they want to generate income this way. It would just be nice to get some more information about this. Yea, i think you will probably get some more information on that through their medium channel, the title of the article should be a deep dive or something, it gives an insight on the possibility that abounds in the project and its really vast, so i believe having their internet protocol is just the starting point of what they will have to offer in the future Yea, I read the "deep dive" article on Medium and I must say it is really enlightening. I got most of the answers I needed about COVA from there, I think everyone here should read it for enlightenment. Yes, its a vast project, so we'll get to see much more rolled out of the platform with time, as the internet itself is vast with endless processes, each giving birth to another, so Cova is just starting, the next generation of internet users will be pleased and lucky to have this kind of concept, once the platform has been set up and fully operational |
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I am not sure if it has answered anywhere before but does anyone of you guys know how Cova will monetize their platform? I mean, right now they have still funds from the private sale but how will they earn money once the protocol goes live?
That’s a good question. I always wondered why a Smart Internet Protocol would need a token. Although, it’s all protected and users still got control over personal data. Why does Covalent internet protocol need a token? Actually, Cova is not just all about internet protocol, though its their primary concept but they also said something about having their own data market place if i'm not mistaken, so i believe they will have some sort of use for their token after all, its a gradual process and i believe with time we'll get to see multiple usage of their concept Okay, then it would make sense that they want to generate income this way. It would just be nice to get some more information about this. Yea, i think you will probably get some more information on that through their medium channel, the title of the article should be a deep dive or something, it gives an insight on the possibility that abounds in the project and its really vast, so i believe having their internet protocol is just the starting point of what they will have to offer in the future |
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I am not sure if it has answered anywhere before but does anyone of you guys know how Cova will monetize their platform? I mean, right now they have still funds from the private sale but how will they earn money once the protocol goes live?
That’s a good question. I always wondered why a Smart Internet Protocol would need a token. Although, it’s all protected and users still got control over personal data. Why does Covalent internet protocol need a token? Actually, Cova is not just all about internet protocol, though its their primary concept but they also said something about having their own data market place if i'm not mistaken, so i believe they will have some sort of use for their token after all, its a gradual process and i believe with time we'll get to see multiple usage of their concept |
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I don’t think the timeframe is the issue with an opensource project like this it could be slowly rolled out and evolved before it becomes a standard in browsers for instqnce
yeah, the good thing about COVA is the fact that it is open source this means it can evolve beyond what the team intended for it i believe it going to take sometime before we can start reaping the benefit Yea, which will encourage developers to come into the brand and just as i stated, its a continuous process thing and the door has been opened for all to come in and infuse their creativity, its something that will require constant updates to stay ahead of intruders and one good thing to note is the fact that the programming language used is created by them |
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I don’t think the timeframe is the issue with an opensource project like this it could be slowly rolled out and evolved before it becomes a standard in browsers for instqnce
Yea, its not something that will have a timeframe, though some key features will be given a specific period to launch but the implementation process will be a gradual thing like you stated because as a new brand, the development process will take sometime before it has the momentum to be recognized by the world and accepted by users |
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That's good to know because i was a bit worried concerning the issue of airdrop and how it has negatively affected a lot of brands, i have been following Cova for a while now and with all their implementations and announcements, one can easily see the creativity behind the brand, just like i earlier stated, they seem to have gotten everything planned out in favor of the brand
Well, the amount of tokens that they are airdropping is pretty small compared to the total supply. For example, the second airdrop on BitMax is capped to 30.000 COVA. That's around 0.64 ETH worth of tokens at the current market price. That's indeed small and a good way to incentivize their promotion/awareness campaign, unlike the norm where the whole place will be littered with the token, such negatively affects a brand and i'm glad to see that team knows about this, hence the massive reduction in such and the delivery of little quantity of airdrops, love the proactive nature of the brand Yeah, with that amount of tokens airdrop hunters won't have a big effect on the current price. But as you said, it's still a good way to get people interested and maybe research a bit about the project. You're absolutely right about that, which is a great move by the team and a creative way of promoting their brand, the team seems to know the game of promotion and the stakes involved when there's a huge mistake such as the case of massive airdrops that has affected the entire industry, the reason why we are here today is because of such |
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That's good to know because i was a bit worried concerning the issue of airdrop and how it has negatively affected a lot of brands, i have been following Cova for a while now and with all their implementations and announcements, one can easily see the creativity behind the brand, just like i earlier stated, they seem to have gotten everything planned out in favor of the brand
Well, the amount of tokens that they are airdropping is pretty small compared to the total supply. For example, the second airdrop on BitMax is capped to 30.000 COVA. That's around 0.64 ETH worth of tokens at the current market price. That's indeed small and a good way to incentivize their promotion/awareness campaign, unlike the norm where the whole place will be littered with the token, such negatively affects a brand and i'm glad to see that team knows about this, hence the massive reduction in such and the delivery of little quantity of airdrops, love the proactive nature of the brand |
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I get the feeling theirs a lot of new money getting into the project since the 2 new listings, and the airdrops structure makes it also really well done to drive sales of tokens as well to unlock the airdrop which i think was a really smart way of handling it
You can check up market cap of Covalent on crytorank for daily trading volume and market cap. They got listed on cryptorank a few weeks back. Btw bitcoin and most altcoins prices has been going up, Since COVA is listed, it’s volume and price would keep pumping. It’s best time to get more cova tokens because it’s low. I still don't understand exactly how the circulating supply is calculated. Right now 30% of the 20% from the private sale is unlocked, right? So that's 6% of the total supply. Team tokens are still locked completely. Founding reserve should be unlocked completely, right (10% from total supply)? From the 4% of the Huobi voting rewards, 1/3 are unlocked. So that's another 1.33...% from total supply. Block rewards, advisors and Ecosystem tokens should still be vested. So all in all right now 17,33..% of the 6.5 billion tokens should be unlocked. That would mean the circulating supply is now 1.126 billion. That would mean the circulating supply from Cryptorank is just a rough estimation? Or did I miscalculated something? Wait did Huobi trading begin? I thought it was only bitmax. Regarding the circulating supply I think your understanding is correct. However keep in mind the amount they have unlocked and the amount they have set for marketing and promotion within bitmax. Yeah right Huobi trading started Dec 21 and also bear in mind too that the airdrop distribution might have also increased "circulating supply" even though the bulk of the supply are locked under the COVALCK asset column From what I understand Airdrop tokens should be part of the section "Foundation Reserve (Marketing, PR, Business Development)" and all tokens from this section are unlocked as far as I know. So the Airdrop on BitMax shouldn't increase the number of tokens in circulation. That's good to know because i was a bit worried concerning the issue of airdrop and how it has negatively affected a lot of brands, i have been following Cova for a while now and with all their implementations and announcements, one can easily see the creativity behind the brand, just like i earlier stated, they seem to have gotten everything planned out in favor of the brand |
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Definitly i think the airdrop tied to with the other events going on was a smart move to finally get some attention from outside the small community and really get things working finally
You're absolutely right, they have been issuing out nice updates that has attracted a lot of ears to the community and attaching the airdrop announcement to it was a really wise move and the good thing about it is, they attached the airdrop process to a very good exchange that its trending at the moment, which is bitmax, overall, they are doing very well |
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I think this is the best project ranking on its quick adoption. More partners trying to get in. Each day there’s an exciting announcement of adoption in a different industry. What do you think would come next?
Their listing on bitmax and release of their public testnet came out at the right time. They have kept to their word about giving us good updates. Yes I agree with you. It’s the best project of the year and also really undervalued. No ICO just private sales but keeps s stable 1 eth : 32000 COVA. What’s the rate on BitMax today? Current price is 0.0000285 ETH per token. Still a bit lower than the 0.00003125 ETH, which was the private sale price. We could wait and see what turns with current market condition leaning towards a bullish trend. let us see what happens in a weeks time. I think the volume should also be considered in all of this. Yea, the market seems to be following same pattern as the previous ones in the past years but we never can tell what it will be in the coming days/weeks, we all want to see the market improve and deliver productive projects that will not only make the blockchain industry known but also open doors that will embrace users from the conventional system |
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