Walton Chain (WTC) An Odd One That Makes No Sense
Lately I have been doing my DYOR researching various investments that I am interested in and one of them makes no sense. I thought if I highlight my findings maybe some smarty pants on Leofinance could fill in the blanks as I am just not sure. If you are not sure then normally you stay away and don't gamble.
Walton Chain would fit into my service related tokens as that is what i am building my portfolio around as I see this as having value in the future. Anything that has a use case in the service related field is where I am thinking and what I am currently building.
Walton Chain was one of the projects I was looking at way back in 2018 as it was a field I was involved with. They use RFID technology along with their blockchain. An RFID for those that don't know is like a smart tag that holds all the information on that particular pallet of items. This not only saves time in the processing of stock but also allows goods to move freely around with less handling and staff involved. I was involved in a similar process back in 2010 as it makes so much financial sense for large companies with distribution centers.
If we look at the price of WTC this is the puzzling part as back in January 2018 the price was at an ATH of $41.15. Since then the price has tumbled down to as low as $0.11 in May 2022. The current price is $0.17 c and has done nothing for literally years. Is this still the accumulation stage or is the project dead? How can something lose it's value and nothing has really changed as we have seen projects offer nothing valued at far more.
The only information I could find as to why the price dropped so alarmingly was WTC ran a contest. There was a giveaway with 200 WTC given to 100 individuals and it just so happened one of the WTC employees received a prize. He tweeted about this and this created a storm in a tea cup with people saying it was rigged and the price fell instantly.
This could easily have been a mistake as 200 tokens is nothing really out of 100 individuals selected randomly. This is nothing compared to what we have seen happen in Crypto with the shady stuff with LUNA and a few others. This is nearly 230 x away from it's all time high and maybe has a chance of bouncing back.
What does everyone think as the project is still alive and well yet the price doesn't reflect what they offer? Personally I would like to add it to my portfolio as I still think there are definite gains to be had on this. $100 at 17c each is still only 600 WTC and this could easily bounce back.
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Sorry my friend, I can't help you with that one. I hope you find someone who is able to give you some insight onto what might be going on with it!
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No worries was just trying to see if anyone knew about why the price hasn't recovered. Thanks anyway.
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I always question why they choose to make their own blockchain, rather than simply build a dApp on top of say Ethereum or Hive.
(Of course I get it's about money for the founders...)
They don't actually want it decentralised to the point that the founders lose control and hence, the whole immutable blockchain aspect of tracking goods along the supply chain becomes redundant.
Because with control of their own chain, they ultimately have the power to roll back and change things at their will.
With that in mind, I just don't get why you would buy tokens for these types of projects.
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