Trybe Under or Over valued?
As a long time Trybe user/ EOS fan i decided to take a closer look at the value of the Token. Lately we have all seen the price of EOS fall like a rock, more so then the rest of the top 10 as well, think the Dan leaving fud gave EOS a bit more of a smashing. Just the clear it up he isn't leaving. Now that you have all read my filler lets get on with it. EOS value for this post is calculated at $2.8
To find the market cap of Trybe isn't as easy as i thought it would be. If you go onto bloks.io under the token tab you will find Trybe listed . Here it list Trybe with a total supply of 1 billion which is wrong from the white paper its 2 billion unless they have changed it since i last read it. Bloks.io have give Trybe a market cap of $9 million. To me this is high given Trybe only has around 12k users. The reason its so high is they calculated the market cap as if 1 billion tokens are already circulating, which is far from the truth.
On Nexdex they have listed that Trybe has a total supply of 10 billion and also circulating supply of 10 billion. If you dont know 1 billion has 9 zeros. So according the Newdex Trybe's market cap is $95.5 million. What the hell is going on how do 2 places have the tokens supply and circulating supply wrong.
So just how many Trybe tokens are actually out there? Im probably way off here and maybe the circulating supply is somewhere easy to find but any way i did my tokens i received from the 1 million token airdrop, divided that 1 million by the tokens i received then times that by my wallet balance. This came to about 5.5 million. i guess plus 1 million so 6.5 million tokens are in peoples wallets. Now no idea how much Trybe owners and employees have but lets say they have a total of 5 million just to be on the safe side. They plan on air dropping about 100 million tokens over the next year so we will price this in by 50% now as the markets tend to do that. giving us a total of 61.5 million circulating supply. So using the price from Newdex with the new circulating supply we come to a market cap of $585,480. Not so bad really so the answer to is it over valued? in my eyes its not Trybe have a solid road plan ahead and even if the price goes down after all the airdrops which it almost certainly will the extra tokens you receive will more then counter the loss in value well atleast in EOS terms.
Now im sure there will be some blockchain expert rip my calculations apart so let me just say this is more just fun and i was just thinking about it the other day. Please correct my calculations/ if you know where to find the official circulating supply i would love to know.
This is not professional financial advice please do your own research before making any investments.
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