Recently I published an article about Let's review Binance LaunchPad Token's Performance Since Launch
The article is liked by many. Therefore, I am now going to write one article per asset. I will also use santiment data to try to unravel the behaviour of promoters for that asset.
The focus of this article is GIFTO
There are large number of features that santiment derives from blockchains of the projects. I will be using few of them to derives my point.
% Token Supply on Exchanges
This feature measures the percent of the total token supply which is on exchanges. Below picture shows for GIFTO
It is obvious from the chart above that as the %token supply on exchanges increases -the price decreases. And who owns so much supply? Answer is simple - IEO promoters have that much supply.
MVRV Long/Short Diff
MVRV is the ratio of market value to realized value. And this feature measures the difference in long and short period MVRV. Below picture shows for GIFTO
It is obvious from the chart that sometime in May'2018 the value of this feature went below zero. Which is an indication of start of bear phase for the asset. And it has yet not come out of the bear phase.
Network Growth shows the number of new addresses being created on the network each day. Essentially, this chart illustrates user adoption over time, and can be used to identify when the project is gaining - or losing - traction.
It is obvious from the chart that promotion campaign by promoters did help create some addresses in early phase but afterward there is no significant growth of the network. That means that there is no suitable product that can be used by the users.
Just by combining these three graphs it is obvious that promoters of the project encashed the initial jump in the price during early phase of launching the IEO. And afterward they have not done much for more than a year.