CrediBULL Crypto
@CredibleCrypto
Crypto trading, analysis, and education. *Tweets are my opinion, not financial advice*
$TRAC Pump Potential!
Why $TRAC?
Narrative, tokenomics, and technicals.
A thread:
*NOTE: This is NOT a "deep dive"- it is a surface-level intro to $TRAC designed to be a starting point. Please DYOR*
NARRATIVE:
Notable Partners/Users: Oracle, Costco, Walmart, Target, Home Depot, BSI etc. all use the Origin Trail Network to share/hold data for supply chain management and more.
Advisors/Backers: Include big names like Coinbase, Bob Metcalfe (Metcalfe's Law of network effects), and Greg Kidd (investor/advisor in Coinbase, Ripple, Solana, Robinhood, Square, Twitter and founder of GlobalID).
These are all big names that resonate with retail/speculators for a coin that deals in data/AI and is already being adopted and used in the real world. A more complete map of the @origin_trail ecosystem can be seen below:
TOKENOMICS:
$TRAC is NON-INFLATIONARY. There are 500M coins available and unlike $BTC, $ETH, $LTC, etc. there will never be any more introduced into the supply. The number of $TRAC tokens that exists now is all there is and all there will ever be.
This means- no increasing supply, no sell pressure from "farmers", no sell pressure from unlocks. Worth noting that of the 500M tokens that were created, ~132.5M are held in the treasury for future development but haven't been touched since inception.
So we have 500M total, of which 367.5M are circulating (500M-132.5M). BUT WAIT, @origin_trail is also in the process of porting a whopping 100M (20% of total) $TRAC coins to their parachain on $DOT (a topic for a deeper dive) removing another 100M tokens off market.
These 100M tokens (voluntarily ported by $TRAC holders) are currently locked in a smart contract and are set to unlock on DOT sometime over the next year when infrastructure is in place.
So NOW we have 500M total, of which only 267.5M are circulating (500M-132.5M-100M).
It's worth noting that when last ATH was hit in 2021 at over $3+ per $TRAC, circulating supply was approx. 367.5M, nearly 30% MORE than it is today! In other words, circulating supply is at historic lows at this time and may be for the next 6-12 months ahead.
With $TRAC trading at .38, it has a fully diluted MC of just under 200M. At it's last cycle peak above $3 in 2021, it hit nearly 1B marketcap. From current levels:
10x- 1B mcap
20x- 2B mcap
50x- 5B mcap
For context, $DOGE trades at 12B mcap, down from its peak of 88B.
TECHNICALS:
Alright, and now for my favorite part, let's take a look at the charts. We will look at this from a number of different perspectives to put pieces of the whole picture together.
From a simple PA/accumulation perspective we can see that we have just reclaimed a key range low/resistance level after nearly a year of accumulation. Our first target in the short/mid term would be at around $1 as per my Twitter post below.
twitter.com/CredibleCrypto/status/1623248369606066182?s=20&t=uBkDaaPZcIKh34rIraxD1w
From an EW perspective our last run to $3+ was the end of a 1st wave of 5. The 3rd wave (new ATH) is next and should take us far past prior ATH- double digits imo- and this is still technically mid-cycle as the 5th wave would be yet to come. This is a multi-month outlook.
CONCLUSION:
$TRAC is a solid project with a LIVE, real-world use case that is in use by some of the biggest, most notable companies in the world.
Total supply is MAXED OUT and circulating supply is constricted to HISTORIC LOWS for the coming months,
Technicals show a solid breakout after over 10 months in a tight, low volatility accumulation range. The stars have aligned for $TRAC to perform incredibly well over the next 6-12 months in favorable market conditions.