Th #SOLALT series delves into the exploration of groundbreaking crypto treasuries by employing a specially crafted framework to identify distinctive projects with a unique product-market fit on Solana. Today, we're focusing on an over-the-counter (OTC) opportunity that holds a special place in my heart. Imagine it as a private marketplace, where buyers and sellers can engage in direct transactions.
For private companies on the brink of going public, securing liquidity before an initial public offering (IPO) can be crucial for covering operational expenses and other financial obligations. Over-the-counter (OTC) trading desks play a pivotal role in this process, as they facilitate the purchase or sale of significant volumes of financial assets discreetly. This capability is particularly advantageous for executing substantial transactions without influencing market prices or attracting undue attention, thereby preserving confidentiality around financial maneuvers.
The token in discussion is linked to the Whales Market, a distinguished OTC trading platform with a focus on cryptocurrencies. It grants privileged access to emerging projects, including JUP. My initial engagement with the platform was via Jupiter, which yielded impressively positive outcomes. After thorough examination and rigorous testing of its various facets, the platform successfully met all my criteria.
This initiative distinctively fills a gap within the cryptocurrency sector that has yet to be addressed by other projects.
This is the seventh episode in our SOL Alt playlist, and we encourage you to check out the rest of our series in the playlist above!
Normally in this series I like to pull an analog crypto from the previous bull market. However in today's case $WHALES does not have an analog from past crypto cycles, so it's an exception to the rule.
Our strategy aims to identify assets with high potential for success, diversifying investments across ten different options. While nine of these may not yield returns, the success of just one can offset the others and prove the approach worthwhile. Of course we aim far higher than that and we have one 10x already in a matter of weeks.
Market Leader: Whales Market is the go-to OTC marketplace for trading points, whitelists, and airdrop allocations. It is the only platform that offers these services, making it a unique and attractive investment opportunity.
Strong Tokenomics: $WHALES has a total supply of 100 million tokens, with 60% of the platform's fees distributed to stakers. This incentivizes long-term holding and staking, which can lead to price appreciation over time.
Revenue Generation: Whales Market has already generated near $1M in fees and nearly $30,000,000 in volume in just one month of its mainnet launch. This demonstrates the platform's ability to generate revenue and attract users.
Growing User Base: The platform has attracted over 17,800 users in just one month, indicating strong interest and demand for its services. As the user base grows, so does the potential for increased trading volume and revenue.
Innovative Features: Whales Market offers unique features such as the ability to trade points and whitelists, which can be attractive to investors looking for new and innovative investment opportunities.
Transparent and Fair: The platform is transparent in its approach to incentivizing growth, with big portion of its revenue used to buy back $WHALES tokens and distribute them to stakers and other stakeholders.
One red flag is the team, while what I hear is they are experienced, their identities are not know! So this is a half strength!
Strong Partnerships: Whales Market has established partnerships with various projects on different blockchains, which can help to increase its visibility and attract more users.
Strong Community: Whales Market has a strong and growing community of supporters, which can help to drive adoption and increase the value of the $WHALES token.
Future Growth Potential: As more and more projects adopt points as their GTM strategy, the demand for Whales Market's services is likely to increase. This can lead to increased trading volume and revenue, which can drive the price of the $WHALES token higher.
I plan to hold and stake my $WHALES position for approximately one year.
Whales Market is a decentralized exchange (DEX) that offers a variety of features, including cross-chain capabilities. It allows users to trade various assets across different blockchains, such as Ethereum, Binance Smart Chain, and Solana. This cross-chain functionality enables users to access a wider range of trading opportunities and liquidity.
One of the key features of Whales Market is its ability to facilitate cross-chain swaps. This means that users can easily exchange one asset for another, even if they are on different blockchains. For example, a user could swap their Ethereum-based token for a token on the Binance Smart Chain without having to go through the hassle of manually bridging the assets.
The platform offers cross-chain liquidity pools, which allow users to provide liquidity for trading pairs across different blockchains. This helps to increase the overall liquidity and trading volume on the platform, making it easier for users to execute trades and access better prices.
WHALES has more in escrow than the market cap, and they just started a month ago! In addition, 63.5% of all the tokens are already staked, which is huge because when you stake, you will also get a part of the upcoming revenue share.
So much activity in such a short window with so many fees is pretty incredible for this token. It will be bonkers at the height of the bull run, with tons of new chains being issued.
Since January 17th, the activity has skyrocketed, handling 12 to 14 million transactions daily. Imagine the potential increase in fees a year from now.
This is only the beginning, with revenues reaching approximately $250,000 on peak days. With the upcoming addition of new projects, I anticipate no slowdown in momentum.
The last two days alone Whales Market did nearly half a million dollars in fees.
The escrow is already higher than the current market cap, which is incredible.
WHALES tokenomics is a very important aspect of this. There was no pre-sale for WHALES as the LootBot Treasury bootstrapped the initial liquidity.
The team only has 9.5% vests over three years, so there is no risk of the insiders dumping on retail investors.
65% goes towards incentives for people who have WHALES. The people who have them are incentivized to hold it, stake it, etc.
I could not find any information on the leadership team or do any background research. Apparently, they are legends in the space with extensive experience. But, the fact that the team is anonymous is a potential danger sign.
The platform is in its early stages and does not yet operate on a full-time basis.
That being said, it does come with a comprehensive development roadmap laid out for its future.
The good news is that it is bootstrapped, so no VCs can dump on you. This is reflective of the age in which we live. When you have a good technology platform, you can do a lot with very few people. You do not need to raise venture capital anymore and build something for two or three years.
The community sentiment is 97% positive from BirdEye.so.
The staking in APY for whales is interesting because when you stake your whales, you do it on the website. Currently, it is 42%, but I have seen higher. It depends on the actual fees that are being made at any given time.
Now, when you stake your WHALES, you get dollar X whales, and this is when you start really participating in the benefits. When you stake, you will see those golden ones instead of the regular ones.
This is pretty special. While it is new, it already has 63.5% of the tokens staked.
The market cap is currently $32 million, and the price is about $2.21. So, the market cap is small, and there will be dilution. The dilution will come from transaction fees that stakers will receive most of.
They've completed the MVP, conducted a private sale, launched the mainnet and the token, and established the OTC market. The next step is launching revenue sharing, which will be followed by a highly ambitious roadmap. Thus, WHALES is still in its very early stages.
Here are the seven places where you can buy it. Per CMC, BitMart has a much higher price than other places. The easy way to check it is to look for an address with GTH3 ending in JAS1. That way, you know it is the right address, and you do not buy the wrong thing.
LINK AND ADDRESS IS HERE
https://jup.ag/swap/USDC-WHALES_GTH3wG3NErjwcf7VGCoXEXkgXSHvYhx5gtATeeM5JAS1
Approach this cautiously, as it lacks the scientific rigor of my usual price prediction models. With no direct comparisons available, we default to traditional metrics, specifically revenue multiples.
ETH currently trades at 27.5 times its $10 billion revenue. Applying the same Ethereum multiple to Whale Markets yields a valuation of $330 million, equating to roughly $22 per token.
My Bear Prediction 2025 is $8 - a 4x from here
My Expected Case Prediction 2025 is as high as $16 - assuming lots of new listings and adoption and fee growth - an 8x from here
Bull case, if it were appraised like Ethereum $22 - 11x
This project meets all my criteria, addressing a market need by filling a noticeable gap with its use case. Notably, there's a 5% fee for the OTC services which will drive a lot of revenue.
With the influx of new projects this cycle, $WHALES is poised for significant growth. Consequently, Whales Market has successfully passed through our stringent selection process.
Remember predicting the future is very difficult and always bear in mind this thing could disappear and go to zero tomorrow.
There could not be a better time to get into these things with the Bitcoin halving on the horizon.
