Let's investigate CTP price picking momentum

in LeoFinance5 months ago (edited)

One month back when I decided to get more in tokens like LEO and CTP (my introductory post ) I felt that they are going to grow and they will be a nice long term bet for me. But little I know that they can rise so quickly.

Let take a quick look on CTP chart from Hive-engine.

CTP.png

So looking at chart I can see CTP Buy order price on 3rd June was .029 Hive and sell order price was .043 Hive. But today CTP Buy order price on 3rd July is .065 Hive and sell order price was .089 Hive. Simply both are (more than)doubled and it means that investment is doubled in a month.

Though a price rise can make you happy but my curiosity always suggest me to find the reason. I found the reason @clicktrackprofit blog and I am putting excerpts from it.

Feel The Burn!
We touched on this a few weeks ago, but wanted to remind everyone that ALL purchases made to ClickTrackProfit, ListNerds & Plus1Success using Fire-Pay and CTP Token will be burned!

We have taken a relaxed attitude towards burning tokens, just because we always had low liquidity and circulation. However we think it's time to add even more value to the CTP Token and it's holders.

So we will burn all purchases made with CTP Tokens on our websites.

That really explains the price increase and my curiosity led me to verify the above statements and I just digged the block explorer.

trx_id:"08debecef8bf1e0fff7f727c38c05d3eee14e1a1"
sender:"clicktrackprofit"
contract:"tokens"
action:"transfer"
payload:Object
symbol:"CTP"
to:"null"
quantity:"4090.387"
trx_id:"fde6be036f2f9882bf950b415da81eb211c8a8e8"
sender:"clicktrackprofit"
contract:"tokens"
action:"transfer"
payload:Object
symbol:"CTP"
to:"null"
quantity:"1050.023"

Ok , there might be more transaction but I am satisfied by seeing 2 and stopped my search. It further strengthen my belief that I should keep accumulating the CTP and I can expect further more growth in CTP.

PS: These all are my personal view. It is not a financial advice nor any kind of solicitation to invest. Please do your own research.

Posted Using LeoFinance

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As one of the most involved in the CTP token, I think that you didn't make a mistake... :)

Maybe you want to check my newest post about the CTP: https://peakd.com/hive-119826/@ph1102/oovlqcsg

Cheers!

Thanks Zoltan for sharing it. It is nice to know that filled your bags when someone dumped. It reminds me "Buy When There's Blood in the Streets".

Oh, yes... I have made so many mistakes back in the last bull run ("altcoin season") by FOMOing on a lot of coins... Today, I'm only buying coins that are in the RED zone :)

Nice post and analysis, and you name one of the reasons, there is quite a lot of demand for the tokens, both to use them with Firepay on various sites, there are over 80 accepting CTP tokens, and also from various contests that are running now and in need to buy tokens to cover the payouts, and most of the winners are staking, keep up your awesome work.

oh yes, Firepay(merchant payments) , 23000 CTP contest + many other contest keep CTP demand.

I also started with CTP when I got nice amount of CTP in russel's giveaway. More I try to dig out more I was convinced to stake it.

Great to hear, keep it up.