CreamPYE compared with another similar project
Thought i would compare the results of PYE with the results of another project that is fairly similar. I am trying to be unbiased (I am actually a holder in both and think they are both good projects), but naturally what I am writing here suggests I am quite bullish about PYE.
Please note that none of these measures are perfect or ideal. I’ve made the best use of my limited knowledge about each of the projects/crypto in general and the data available. These are all comments of an amateur and not a professional and I could be wrong about everything I say. Please comment though on any of your thoughts to aid my learning.
The project I am comparing to is similar, but not identical (no project is ever identical).
Here are some similarities:
- Launch dates – PYE circa 14 April, other project circa 20 April
- Tokenomics – both have a 10% tax on sales with 5% redistributed to the holders. Both have a charity aspect to the tokenomics.
- Market cap – I’m never sure if I’m getting the best data on this, but what I’m seeing on poocoin suggests the market caps of both projects have probably been in similar ranges over the time period (ie it is not that one project is huge and the other tiny).
- The 1,000th largest holder in each project has around $1,000 in it, so quite a lot of holders who are fairly serious about the project.
Here are some differences:
- CG and CMC listings – PYE went on CG circa 24 May but not yet on CMC. Other project went on CG circa 7 May and CMC circa 14 May.
- PYE has circa 18k holders (BSC Scan), the other coin has circa 73k holders (BSC Scan).
- The other project has a larger social media presence.
- PYE has a slightly larger Twitter following. The other project has a significantly larger reddit following. It also has a larger Telegram community.
Where this gets interesting is the charts (see images). PYE is the blue line and the other project is the orange line. Here is the summary:
- PYE has not had a huge amount of reddit activity, but it has been fairly consistent. Other project has varied significantly and has had a period of a couple of days of huge activity.
- While PYE has had an ATH higher than it is now, it has not dropped significantly against BNB. The other project lost momentum against BNB as has dropped a fair bit since ATH.
- The price of PYE does not seem to have been the result of just massive reddit activity at one particular point.
- There definitely appears to be a correlation between reddit activity and price, but it is unclear what drives what (IE whether the price going up drives more reddit activity, or whether more reddit activity causes more buyers – I imagine it is the case the both are true).
- The PYE community are possibly spreading the word better through “word of mouth”. I asked both project’s Telegram communities (keep in mind that those on Telegram answering this are probably the most actively involved and the skews things a little) how much success they had sharing through “word of mouth”. Both communities showed that they had been successful at this, but PYE was by far the stronger with significantly more people managing seeing more than 3 of their friends/family become PYE holders. Also more people in the PYE community answered (even though it was a smaller community).
In conclusion, I’m pretty happy with PYE at the moment. I feel a bit more confident that growth has been organic. Given this is all before any major reddit activity or a CMC listing, I think a PYE pump could be yet to come – but at the same time, I am happy with slow organic growth!
Reddit subscribers (PYE is blue, other is orange)
Reddit posts (PYE is blue, other is orange)
Reddit comments (PYE is blue, other is orange)
Posted May 29, 2021, 4:41 PM UTC · edited