If identified correctly, great value can be found on exchanges after an ICO, particularly during this bear market. In this series we pick projects providing great value for potential buyers Post-ICO. Our selection today is Open Platform, a payment infrastructure for applications.
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Open Platform is a project we’ve been bullish on for a while. They’re exactly the sort of project that cryptocurrency needs to boost mainstream adoption. People can quite easily fall in love with technology but it never really amounts to anything without adoption. Take Instagram for example. They developed a social platform with integrated image filters. No big deal. What gained them a $1 billion acquisition price wasn’t their middle-of-the-road tech but the user base they worked to achieve.
After launching, Open Platform went 2.5x in USD from ICO crowdsale price. Buyers from private and pre-sales obviously fared better. Several factors have dragged Open’s price down:
- Exclusive listing on Kucoin due to partnership has meant less liquidity.
- Price manipulation. Anyone watching the Open books has noticed large sell walls pushing the price downwards for months, that disappear once someone buys in to them.
- Overall downtrend of the market.
- Diminishing hype over time.
At the time of writing Open’s price is -88.5% from its ATH.
The Case for Value
The price has taken a huge knock but Open have a lot going for them.
The price might look like it’s dying but the project certainly isn’t. Open have been plowing ahead and have reached all of their significant milestones. They also boast approx.
2000 Github commits which puts them in the top 20 all time alongside Zilliqa.
Open platform are due to put in place staking for masternodes within the coming months. This should help to inflate the price.
CEO Ken Sangha has announced that Open is partnering with an established payments processing company in Korea who are planning on going public soon. The partnership will allow Open to provide cryptocurrency payment solutions to thousands of its merchants. In a world of whitepaper projects this is very positive news.
There has been murmurs of Open wading in to the gaming industry and providing their solution for payments in that space. Open themselves have tweeted articles mentioning the need for cryptocurrency payment solutions in gaming. Any significant deal here would be massive.
We also recently announced our OPEN Blockchain Innovation Labs where we are partnering with some of the top academic institutions around the world including University of Southern California, Duke, Tongji University, and many others soon to be announced. We are working with faculty and students to research groundbreaking topics within the blockchain space.
Open has fallen a long way from it’s all time high (-88%). Once the wider market recovers we expect that Open could do quite well. As such, we believe the current price offers tremendous value.
We rate Open as a Post-ICO Gem. Current marketcap is not known due to fluctuating circulating supply. Nonetheless, a highly active team, growing number of quality partnerships, continually met deadlines, upcoming masternode staking and a significantly cheaper price than ATH mean that Open looks to provide great value to investors.
Note: No payment was made by this ICO for this article. We always label our sponsored content clearly at the top of the article. This article, nor any of the content found on this website, should be considered investment advice. Always do your own research.