Yes I did realize this.
What was misleading to me that Charles claimed ADA was trading four times higher then ATL when around 0.1 USD.
Eventually it hit the markets already with 10 times up, which is pretty common in crypto.
Why this is interesting is to realize that the whales from the ICO are still making huge profits selling at these prices, which they wouldn’t have made if they ICO price would have been the ATL price. Well at least in crypto terms :))) 300% is still amazing.
This also brings us to my bad actor whale theory, that the whales selling now are doing it rightly if they optimize their investment for a short time frame.
You can realize that ADA price is driven from Asia, mainly Japan & South Korea time zones, which suggests most of the holders are there, but more importantly the ICO whales.
It would be nice to get some statistics, analytics and graphical reports from the Cardano Blockchain to let the public understand better the ADA market, Cardano Blockchain activity and so forth. Not sure why such reports are not prepared and regularly shared with the Community.
Still I have the feeling we are in a down spiral caused by people who want to sell ADA at a certain price and buy back lower.
What is interesting is that at a daily volume of 50m, somewhere 2% of total supply. If it would not always be the same (or a high portion of the same) coins exchanged, we would have every second account holder sold their coins in the past month, which I seriously doubt. So it would be good to know how much of the same or different coins are being exchanged over a period of a month.
Anyway I am totally impressed with Cardano now considering they raised 60m USD and managed to deliver in such quality & fashion so far. Look at EOS with their 4b USD ICO (which ETH has already been liquidated), which project I believe is far off from Cardano (except their marketing & Troll machine).
What will be interesting to see if Cardano can really set up sustainability in time as it’s critical for the survival of the platform. Charles mentioned that the burn rate is at 1m USD per month today, and considering the start in 2015 and the growth of the team and also Cardano Foundation and Emurgo activities, the money raised might dry out in EOF 2020. It’s also important that the Treasury will get enough income from the Cardano network, so there will be enough activity to collect the fees. DAPPs are critical to come. I could even live with some sort of taxation on you ADA holdings on your account would the treasury not receive funds below a certain threshold, though I understand this would scare away lot of people We just have to make sure the Treasury will have enough to keep IOHK around for the next decade.