I love markets. It is one of my favorite things...and this is the type of things that make it fun! Recently, since @freedomexists brought his WHALECOIN back online we now have a market to compare WLS to. The whalecoins are markets withing WLS, however they should jive with one another. I am here to tell you that WLS is UNDERVALUED! Here is why...
I am constantly powering down my growing whalestake in order to put more WLS out on the open market for people to buy. With the inflation rate I think this is proper to do so others can stake and grow. So my most recent power down was for 425 WLS. I think bought bitshares where I received 382 bitshares. I market sold my WLS just like I always do, I hit the bidder. This is when I got to thinking...
I was going to continue to move into EOS, but I had a better idea. I wonder if WLS is undervalued. I headed over to the WHALECOIN market to check out the spreads. This coin appears to be one of the most liquid as people are attempting to BUY WHALECOIN in order to boost the rewards on their WLS account. Well the current bid/ask price for whalecoin is .63/.64. Then the light bulb went off...something was different.
I just powered down 425 WLS and traded for 382 BTS. Each 100% WHALECOIN vote is worth 155+ WLS at present MANA. so, if I were to throw all 382 BTS into WHALECOIN, and subsequently utilize the voting MANA, I would receive upward of 862 WLS for my powered down stake (granted I cannot power ALL of that down immediately and yada yada yada, but we are using present values here to make it easy and make a case).
This is a return of 2X the amount that I originally just powered down. So this means that WHALECOIN is either overvalued, or WLS is undervalued by a double, or somewhere in the middle. Regardless, 2 out of those 3 options is saying that WLS SHOULD BE WORTH MORE ON THE MARKET NOW! If you are looking to stake then you may be getting yourself a deal...
Now back to upsharing WLS!
