Binance is expected to list CyberConnect at 7 pm on August 15, a prominent name in the SocialFi segment and the brightest name of Coinlist recently.
So what is the forecast price of the $CYBER token when it is listed on the exchange?
What is CyberConnect ($CYBER)?
CyberConnect is a decentralized social network project that works on BNB Chain, Ethereum, and Polygon. With CyberConnect, users can create profiles, post and share content (images, videos, etc.) as well as connect with other users.
Specifically, CyberConnect has many attractive features such as access to all dApps, decentralized governance, a multi-chain, and incentive program for users. Especially, CyberConnect will focus on developing a social graph (Social Graph) to support users to access many social networking applications and protect personal information.
As can be seen at the time of listing, the initial number of tokens of the project will be 11,038,000 CYBER (11.04% of total supply) distributed on 3 blockchains: Ethereum, BNB Chain, and Optimism.
- source: https://allinstation.com/
A simple and highly accurate way to forecast the price would be to compare it with recent projects listed on Binance Launchpool to match the current market situation and not yet TGE when the Launchpool process takes place. Also, compare with 2 SocialFi projects listed by Binance this year.
Compare with $MAV
Maverick Protocol (MAV) is the most appropriate name on Binance Launchpool at the moment when it is listed while BTC is holding a 29-30K sideway.
The time of listing the project’s Marketcap fell at about 140M.
=> If Mcap $CYBER is equal to $MAV at the time of listing, then the price of $CYBER is 140M/11M = 12.7u.
Read more:
Japan’s Binance Prepares Launch of Regulated Subsidiary
Binance & smaller algorithmic stablecoins in 2023
Compare with $HFT
Hashflow is the name Binance Launchpool was listed on November 7, 2022, this is also the time when the market fell due to the impact of the collapse of the FTX & Alameda Research empire.
At the time $HFT was listed, the project market cap fell around 180M.
=> If Mcap $CYBER is equal to $HFT at the time of listing, then the price of $CYBER is 180M/11M = 16.3u.
Compare with $EDU
Open Campus ($EDU) is an educational SocialFi project that is still being noticed by the Vietnamese community. Although it is a project on Binance Launchpad, the number of tokens in circulation at TGE is still suitable for weighing.
At the time $EDU was listed on the Marketcap, the project fell to about 186M.
=> If Mcap $CYBER is equal to $EDU at the time of listing, then the price of $CYBER is 186M/11M = 16.9u.
Compare with $HOOK
Hooked Protocol ($HOOK) is the first SocialFi project launched by Binance and spurred speculation on Social projects. Also a name under Binance Launchpad, but the amount of tokens in circulation at TGE is similar to $EDU and $CYBER around the milestone (10 -> 15% of total supply).
At the time $HOOK was listed Marketcap, the project fell to about 138M.
=> If Mcap $CYBER is equal to $HOOK at the time of listing, then the price of $CYBER is 138M/11M = 12.5u.
Based on the Public Sale price on Coinlist
CyberConnect has opened a Public Sale on Coinlist for 1 CYBER = 1.8u. From here, we get the project’s valuation = 1.8*100M (total supply) = 180M.
=> If the project reaches this valuation with an initial total supply of 11M, then the price of $CYBER will be 180M/11M = 16.36u.
Inferring the possibility that the $CYBER list price range of 12 – 17u (ROI X6.6 – X9.4 times compared to the Public Sale price on Coinlist) is reasonable given the current market context. It is noteworthy that the number of tokens that were unlocked outside the community at the time of TGE was only under Community Rewards and Coinlist Public Sale, accounting for 3.15%/11.04% of the total initial supply.
However, this is not a safe MCap zone to enter $CYBER because of the risks present in the overall market. We can compare with the Chart of $MAV, $ARKM to see how the running price of projects that pay tokens to the community.
Read more:
CyberConnect announces season 1 airdrop
Sky Mavis and CyberKongz Unite Gamified NFTs
