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Binance's New Coin NFP Has Been Volatile for Three Days, Are You Considering Buying?
In Binance's new coin offerings, some coins like MEME/TIA have experienced explosive growth after a few days of volatility, while others like EDU have seen a continuous decline. If you're unsure about how to choose, let's start by analyzing the on-chain data of NFP.
- On-chain Situation
According to the whitepaper, 25% of NFP was initially in circulation, which is 250 million tokens. Among them, LaunchPool accounts for 11%, airdrop for 10%, and 4% for short-term development fund unlocking. From the on-chain data, Binance wallets currently hold 120 million NFP, with 38.29 million tokens staked, 28 million unlocked NFP held in the project party's wallet address without movement, and 18 million airdropped tokens unclaimed.
It can be said that most of the circulating chips are currently on the Binance exchange, with some tokens being staked.
The above is the initial allocation, and from the on-chain numerical addresses, the numbers correspond exactly to the whitepaper. 11% of Launchpool tokens were directly transferred to Binance. 100 million tokens were used for airdrops and transferred to a dedicated address.
- Short-term Development Fund 4%
There are a total of 40 million tokens, with 20 million transferred to an address without movement. 8 million tokens were transferred to DWF, which has already been transferred to Binance. 12 million tokens were transferred to an address and then distributed to four addresses. Based on this MoneyFlow, it can be known that 3.5 million NFT tokens were transferred to Binance, while the others are still on-chain. If interested, further tracking can be done on Scope: https://t.co/Y9tphCFR04
From this perspective, NFP is relatively conscientious. Compared to the opening of EDU and HOOK, where Launchpad accounted for 5%, the project party recharged 5% of the chips and sold them, leading to a continuous decline after the opening (I have posted historical articles exposing this on Twitter). In contrast, NFP's Launchpad accounts for 11%, and the project party has recharged 1% into Binance. Considering the normal demand of market makers, this is relatively reasonable and does not show signs of malicious dumping after the opening.
In addition, we have also confirmed that NFP only has one market maker, which is DWF. Let's wait and see how the token price performs in the future.
- Airdrop Address
10% of NFT tokens were used for airdrops, with 100 million NFT tokens placed in a dedicated address. Currently, the airdrop address only has 18 million tokens left, which have been claimed almost entirely.
From the Money Flow, it can be seen that the address with the highest airdrop holds 21,000 tokens. After receiving the airdrop, they were transferred to three addresses for staking. The second address holds 12,000 tokens, with 1,200 tokens staked, and the rest transferred to Binance. The third address holds 9,900 tokens, with two addresses for staking, and from the fourth address onwards, there are around 8,000 tokens. From the airdrop address, it can be seen that:
1) The largest recipient received 21,000 tokens, worth around $20,000. There are no major recipients like in other projects, and the distribution is relatively even.
2) 82% of the airdropped tokens have been claimed, and the remaining selling pressure is not significant.
nfp @nfprompt
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