Sometimes It’s Not All About Token Supply

I just experienced one of the most disastrous token ICOs because I was enticed with the token supply. In my experience in crypto, I have grown to understand that sometimes it’s easier to see a project do great in price if the supply is low, because it’s easier to pump money and get a huge price increase. Kinto had 10 Million max supply, and circulating supply was 1.5 Million, this is the most enticing tokenomics I have seen in my life. I was feeling so sad for not accumulating more Kinto when I had the chance.

Later on Kinto announced its ICO and I was super excited, but it gave me some teeny tiny red flags because if a project was as successful as Kinto claim they are, why are they doing an ICO. But in this crypto space, I have been shocked so many times, it seems like there is no plan anymore, just be fortunate enough to be at the right place at the right time and you will make life changing money. So I said to myself, I must participate. The day of the ICO came and I invested, made one of the biggest ICO investment I have ever done in my life. Everything checked so right, the utility was great, use case was great, supply was low, they had the users.

After buying the ICO, I started seeing some funny tweets from the founder, like, expecting 2X profit from ICO is ridiculous, that was so funny because if I shouldn’t expect at least 2X profit from the ICO why participate, I might as well just waited for TGE and wait for it to launch and dump and then I will buy it. This time it was already too late because my money is in, I was only hoping that this was a prank to reduce our expectations. You know, because expectation is the first step to disappointment. ICO price was $15, tell me why on TGE day, the CEO said listing price will be $17, who determines that? That was when I knew I was in trouble with my investment. At this point I was just hoping I got my capital back with a break even.

Time for listing arrived and Kinto listed for $10, we bought at $15 and it listed at $10, biggest crypto scam I have seen so far. Site became non functional, no one could withdraw their Kinto, the price started dipping and going down, I was losing so much money. Long story short I lost 95% of my investment because I got sold by their low supply and tokenomics. A lesson has been learnt, I won’t always fall for the low supply as criteria to judge how successful a project might be.