With a 24 hour trading volume of nearly one million USD, the PPY To BTS market is a close second to the most active market on the DEX.
Nearly all of the major activity over the past week has been initiated by individuals buying PPY rather than selling it, and it is clear that there are many individuals investing a lot of resources into their Peerplays positions. Many of the transactions that have been executed recently have been in excess of 1000 PPY tokens, and there has been a great deal of very bullish activity. While the DEX isn't the most popular or 'mainstream' exchange, it is very efficient and has given many individuals who have faith i n the capabilities of the Peerplays platform the opportunity to obtain stake in the Peerplays tokens before they are listed on any major exchanges. The trading price of Peerplays currently gives the network a total market capitalization of just under 70 million, which is significantly below what the network will likely be able to achieve shortly after the release of wagering DApps for the network. The total supply of Peerplays is currently just under 5.5 million tokens, so the potential for serious growth in the near future is very likely.
I must admit that I am still very surprised that PPy tokens have yet to be picked up by any major or larger exchanges, but that is bound to happen in the near future. While I have a long term outlook regarding the Peerplays network and I believe that it could fulfill a serious and practical use case into the future, the tokens are likely one of the best opportunities for a short term hold position. The interest and demand for PPY tokens is bound to significantly increase once the tokens are listed on more exchanges or release live wagering applications, and both of those events will likely take place over the following months. I purchased 95 PPY tokens last Friday for 8.50 USD from Livecoin, and was able to purchase at a price point nearly 30% lower than the trading level on the DEX but Livecoin doesn't produce or contain anywhere near the same amount of volume on the order books. While there has been significant volume and trading activity on the DEX, there seems to be no problem with providing investors with sufficient liquidity.
While the large trading volume and activity show increasing and rising interest in Peerplays, the price has been able to remain in the same range amidst the rise in volume.
There seems to be little issue with acquiring stake in the Peerplays around the 12 USD price point, and the market has been able to support tremendous volume as well as large quantity orders. The level of tokens that have been available for trading on the order books over the past weeks have really surprised me, especially when they were not coupled with a major price increase. While the current price levels are over double the price during all of the ICO rounds, the tokens are still greatly undervalued based on their long term capabilities in my opinion. There is no doubt that many long term and large stakeholders of Bitshares are taking advantage of the ability to acquire stake in the Peerplays platform early on, but the amount of PPY tokens available for purchase at the current price level still surprises me. There will always be individuals that choose to double their initial investment without taking any additional risk, and the amount of PPY that has been purchased validates the support and interest that the Peerplays project has been able to harness.
While the exact date of the release of gaming applications on the network is still unknown, there is no doubt that the PBSA will be able to follow through on their goals for the platform. The network has been live for around 2 months now, and has ran into very few issues or hiccups since. While the level of transactions and network activity is pretty low at the moment, the network is fully capable of supporting the level of activity that will be demanded upon the adoption of the network. The Peerplays network has the technical capability and capacity to support gaming and wagering applications and tournaments in ways never possible before, and could truly revolutionize the online gaming and wagering market as a whole.
Peerplays will have the opportunity to grow to much more than simply a wagering or 'gambling' platform.
While many individuals may just thing that the Peerplays network will provide Peer-to-Peer provably fair wagering and betting applications, the use cases and possibilities go much beyond that. The Esports industry is growing drastically and is already very sizable, and Peerplays could provide solutions for live and interactive Esports tournaments and events that has never been made possible before. The introduction of 'hedging' applications will give investors the ability to diversify and protect their cryptocurrency holding in a way that no platforms have been able to achieve, and is just one of the many use cases that the Peerplays platform contains outside of traditional 'gambling' or wagering. Some individuals may be turned off by gambling because of their own personal beliefs, but the Peerplays platform has the potential to grow into so much more than that. The advancement of blockchain technology and providing real world use cases that increase efficiency is the most important thing in my opinion, and I believe this regardless of the manner in which this technology comes to adoption.
Peerplays will enable outside parties and individuals the ability to host live events and tournaments on the network, as well as the ability for independent individuals to develop applications for the network. The network will also be introducing various lotteries, where a portion of the network transaction fee pool is distributed to the winner. The holders of PPY tokens also receive a percentage of the total fees accumulated by the network based upon their stake in the network, which could be compared to 'dividends' used by traditional financial instruments. The Peerplays network will be able to utilize an internal market on the platform, as well as enabling individuals to release their own tokens onto the Peerplays network. The concept of user-issued-assets or UIA's has grown significantly over the past years, and will likely grow even larger on the Peerplays network. Individuals could release tokens that entitle the holders to a variety of on-chain or off-chain resources, which gives even more opportunities and choices for investors of the platform.
I really hope that you enjoyed this post, and as always I urge you to leave any comments, questions, input, ect. in the comments below! Thanks for reading!
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