Right now $DEFX Definity Markets has a modest market cap of around $6m. There are some 2400 holders and a max supply of 170m (current circulating supply is 120m+). It has had no real growth spurt and has only been available on two DEX's (Uniswap & Pancakeswap).
Is a 10x doable for $DEFX? Absolutely yes. With what they already have achieved and what's still coming, no doubt.
I firmly believe - even though it's just spitballing of course - that a $500m market capitalization for a company with this scope is also a possibility and in a full fledged bull run a $500m MC isn't even impossible to achieve. This would imply a 100x from current price, give or take. Others think it even has even more potential, given the fact that they operate in a multi-trillion untapped market. And those "others" are no typical crypto degens with $100 bags, but people with a fintech/tradfi history and with deep knowledge of this market and its potential.
In short: Definity Markets allow banks and funds (institutional focus, not retail per se) to buy, sell, hold crypto with near zero counterparty risk, through a very innovative solution where trade executions are separated from custody of assets. Definity Markets falls under strict regulation, hence their appeal to banks and funds.
The #institutionalcrypto narrative is currently taking shape and @definitynetwork is right in the center of it, with multiple partnerships with huge banks like @commerzbank (3rd largest German bank), @Nomura (Japan's bank of the year 2023), @CreditAgricole (3rd largest bank of France), @DanskeBank_UK (largest bank of Denmark) and several other well known banks still under NDA.
Tokenomics work in $DEFX's favor as well. Almost all tokens are in circulation and it is deflationary because of buy backs and burns, based on a percentage of the revenue by both Definity Markets AND their mother company DMALINK, for years a house hold name in the FX settlement market.
A token is nothing without its community and more importantly fans with a proper reach. There are quite a few big names in the CT sphere that took up a position in $DEFX. Some already a long time ago, others just recently. I will mention no names, they will disclose and reveal when they feel like it.
What is to be expected (Q2 & Q3 '24):
- Buy backs & burns based on performance (disclosed and visible through the explorer, albeit randomized and only notified of after) π₯π₯π₯.
- Farming to increase DEX liquidity.
- 2nd regulator approval which allows them to scale up more (their platform has been up and running, albeit in slow growth setting). This is an EU/UK regulator!
- More big partners (banks & funds) coming out of NDA.
- A huge top 200 company partnership (if rumors are true) -> πππ
- A regulated CEX, most importantly for their clients to take up $DEFX positions for discounted trading fees (also a great part of their tokenomics).
- A 2nd more retail focused CEX (mentioned, no specifics yet).
- A solid marketing push to create more awareness towards this undiscovered gem πππ.
TO RECAP: THIS IS ABOUT INSTITUTIONAL MONEY ENTERING CRYPTO AND WE ALL KNOW THERE IS A LOT OF IT πππ
Check out https://t.co/awu05MTP9s for more details about the token (including whale tracker, holders list and more).
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