RE: SundaeSwap12 Apr 2022 16:23
Hi Bobbie, Sundaeswap launch appears to have been very poorly managed. The delays were expected and coin price was always going to drop after the hype the project had received, but the public fallout around the launch was terrible for the project. Minswap has since come on scene and already attracted significantly more attention + trading volume (a key metric to look into is 'TVL'). Ultimately it's all new, so platform performance will be highly volatile over the next 6-12 months. Apparently there're around 500 projects being developed at the moment, with several hundred of them expecting to release mid-summer when the next major update comes out.
Just personal opinion, but I wouldn't expect big returns from Sundae or Min. If you take a look at the equivalent of their market cap upon full dilution, Sundae is almost $0.4bn and Min is about $0.9bn... Given that Uniswap is a beast in comparison and just $6.5bn, Cardanos DEXs are either priced at future usage 1+ year from now, or they are vulnerable to further decline.
The nature of cardano's ISPO presents a drop on ADA price, but also a volatile entrance to market for any new project as many holders ditch at first opportunity. It's a safer model/approach, and probably better for a multi-year long term outlook, but not amazing for price performance in the short (i.e. few months) window.
I'm quite intrigued by the metaverse space. Cardano has several projects who've come out but not fully launched yet. People who bought early are selling out of boredom, but this is a space that will likely go through revolutionary change / growth in the next 6 months...
Ultimately, we are still near the beginning of everything. Therefore there are lots of op's to have, but I'd be weary of buying into things that are priced ~half a billion dollars when they have only just launched