$OPEN — State of the Market — May 2022

Summary

• Quite a quiet month for $OPEN in Apr. Some spiky price action but proved short-lived.
• $0.03000 still holds, and is likely to be held as the bottom for a foreseeable time.
• Better chance to increase in price vs decrease in price thanks to product developments, partnership forming, and Seed Round activities behind the scene.
• Bond is completely out.
• The volume of $OPEN staked for long-term, 260-Days, remained high at 8M+.

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Technical Analysis

This is the snapshot of the price chart of $OPEN from DexScreener:

• DexScreener is still showing our token as $xBlade, this is because the info is fed from Dextools.
• BSCScan, CoinGecko, and Coinmarketcap have altogether updated our token name from $xBlade to $OPEN. You can check here for BSC Scan, here for CoinGecko, and here for Coinmarketcap.
• Overall quite a quiet month for $OPEN with the token hovers around the iconic 0.0300 area that has been quite sticky since March.
• There have been some spiky activities toward 0.0510 in Apr, however the action proves to be short-lived.
• Overall on the backdrop of quite a bad month overall for crypto market, $OPEN performed relatively fine.

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Bond

• In Apr’s State of the market, we announced that we will stop selling Bond. This went into full affect by the beginning of May.
• The portion of $OPEN locked in 260-Day Bond remained record high at 8M+ $OPEN in total, worth $263K.

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Seed Round

• We made some important progress toward completing the Seed Round, target in May-June.
• We also got approval for $50K Grant from Harmony and started to deploy $OPEN to Harmony network.
• In June, we will also release a prototype of the digital world that we are building with some very basic features so that the community can explore and feel what have been developed behind the scene.
• These should be tailwind for $OPEN price to increase. Of course with the backdrop of a crypto winter headwind, the price action will probably somewhat limited.
• But again, similar to previous posts, I think $0.0300 is the cold stone floor and $OPEN has better opportunity to go up vs the risk of going down.

Tri

Disclaimer: Not financial advise. I hold $OPEN. I’m the Co-Founder/Co-CEO of OpenWorld.