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The chart looks bad
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Yeap, and it doesn't give a hope on changes as for now. I'd wish that team will at least a bit work on marketing. Of course they can improve situation later with the mainnet launch but what would we have with a token rate then? Multiple times underrated? I don't think it is good not working on marketing even if mainnet is not so soon.
Hey there,
The team is pursuing various grassroots and guerrilla marketing tactics at the moment, which have been discussed in-depth in two AMAs prior to last. Feedback from KOL investors in BP like Coach K have been that more traditional marketing efforts have proven ineffective in the current environment - this team is actively monitoring this.
You can listen to the AMAs referenced here:
July 2, 2022:
https://twitter.com/beyondprotocol1/status/1542888249647153152June 24, 2022:
https://twitter.com/beyondprotocol1/status/1540348963647127552In terms of "the chart," here is an FAQ the team provides the community:
Q: Can you explain a little bit about price history, and why one might consider backing Beyond Protocol?
A: Beyond Protocol has been on the market for a very short period of time — we haven't hit our four month anniversary yet — and the price has nearly exclusively moved around two unanticipated events not tied to the fundamentals of the project: i. a social engineering exploit where a bad actor seized and dumped Beyond Protocol tokens ii. an unlock to pre-salers which happened without the support of our tier-1 market maker and launch on a tier-1 exchange as planned (the exchange listing was delayed and the market maker was unable to provided support on the smaller footprint of exchanges BP listed on).
There are severals reasons to believe a more normative price will be realized overtime:
- The vast majority of the community is holding/staking their tokens; they are hold-term holders
- Beyond Protocol will list on several tier 1 exchanges in the short term with the support of WinterMute, its tier 1 market making partner, who is also an investor
- At mainnet, Beyond Protocol will facilitate transactions between a huge array of IOT devices, allowing them to communicate securely and cross-silo for the time
We are in the early innings of the first phase of the project.
Don't get discouraged by the magnitude of price action — in our space, it is not uncommon for even bluechip, entrenched projects to see significant price action (see Example A below; Bitcoin loses 99 percent, 83 percent, etc.). The same of course holds true for the broader markets (see Example B below; Amazon from $113 to $6). We are focussed on building an enduring foundation on strong fundamentals, and we are confident normative value will be achieved.
Example A:
https://www.yahoo.com/now/7-biggest-bitcoin-crashes-history-180038282.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABgkNeshXWTxLvHTuN9BUa5W20YMX2TM5cpFr5rqQ2GKV_cczed0zK-FLcs2byiLoarzpFWSJenLfa4c-KxoFGlK2um75gyz0HdycNmjLkcIwTp3t1QORxUJ3G-cxxAcO7BNd7MAZTK8TLhm9LWP_x5WFniFtAfyB12LU3JO_W24Example B:
https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.instagram.com%2Freel%2FCUiwKhtDA0d%2F&h=AT33FMvxsYMKbma4Bvm-zncv_DfcIddnDMpIDD78_V_DE82bX0oXN5CmKFJye7ZypjrvuygrUcwyjwmTZ5FX3qKpe0LGOzQwwTnq4iM27exX8JqaYpUsKExFuJ6ssDR_W0NRN5Zu9o8DTxE&s=1
