RE: Staking vs. Sinking: Can Holozing Recover from its Price Tumble?
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Yeah it's quite normal, with the current delegation amount the "base" price of zing, i.e. how much hive power is being exchange for the delegation rewards is only somewhere around 0.004 hive/zing, and that's not counting staking (10% of delegation rewards) POSH (20% of delegation rewards) or LP (also 20% of delegation rewards). Only thing holding it up at current price is either people speculating that getting in now at 3x delegation APR (price about 3x of the base 0.004 price) for extra early staking rewards and that it might not drop lower as demand of speculators, those expecting a working and growing game might outperform the sellers who may be those either not believing the game will go anywhere or are just looking for that relatively easy (currently) 3x on their delegations.
Well, you have said right and I truly agree and trust what you have said.. I just hope with time when the activities goes high and more delegations comes in, there will be a major change. Some may be hesitant to sell, anticipating potential gains as the game develops. Let's hope to see a better changes as time goes and the game launches.
Lets see it this way. From nearly 17 Million ZING more than 13 Million are staked. That is a hughe trust shown.
Rewards are high, but if the token would be worth nothing in the future...
So many peopple think, this could become something in the future.
Yeah, the level of trust is more than normal.. well I do not believe the token won't worth anything because it will later be. It would just take some time.