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OCEAN Protocl. What am I missing?

Ok, I keep looking at Ocean protocol and I keep think it is very undervalued. But I could be wrong and that’s what I want to iron out with you guys. Full disclosure, I still don’t own any, but I’m very tempted to buy some.

So, the basics:

Ocean Protocol is a data sharing platform. It is aimed at decentralizing the access to data (mostly held by tech giants such as google and facebook) and allow it to be safely worked by AI and data scientists interested in it. It provides a market place where data is sold and shared securely. Devs are constantly updating it and official media is very active with new content and announcements. If you want more fundamentals, Coin Bureau has a very nice (https://www.youtube.com/watch?v=Jr6ZuePmV-g) on it and I recommend watching.

Tokenomics-wise, it’s circulating supply currently stands at 426 Million with a total supply at 613 Million and a maximum possible supply of 1.41 Billion. According to Etherscan, the top 100 holders collectively own 75.25% of all tokens.

So yeah, I completely agree that data is on of the most important markets today and it will only increase in size and importance. It is currently centralized around a few names in big tech and having a way to monetize and share your data securely seems like very promising business model. To top it off, their website currently lists as partners companies like Daimler AG (southeast Asia) and Roche Diagnostics, both multibillion dollar companies.

Price currently sits at 1.44 USD and since its ATL in October 2020, it has grown about 500%.

So far, it seems mostly good to me. But there are some downsides too.

* First of all, the rather large supply still to be distributed could depress the price for a while.
* Also, checking [SimilarWeb](https://www.similarweb.com/website/oceanprotocol.com/) , it looks like most interested is pretty much crypto-speculative. Interest follows price action and over 80% of referrals come from CMC and CoinGecko alone. Widespread interest and adoption still seems rather far away.
* Though a 500% increase in value over 5 months is not particularly bad, it is also not extremely great either. Many altcoins outperformed it by a considerable margin over the same period.
* Price has been “consolidating” or rather, hovering around $1.4 since the beginning of March.
* Token concentration seems significant.

So what am I missing? Is this a severely undervalued coin, currently sitting at number 118 on CMC’s rank. Is its bull run over and already run its course this cycle? Can it still rise to join the top 20 coins?

I’d really like your thoughts. Perhaps help me see what I am missing, if my intuition is right or severely off the mark.
Cheers.



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2 Comments

  1. Severely undervalued. Doesn’t get enough exposure at the moment, has everything from partners to utility/fundamentals that make it a certified blue chip.

    I’ve been high on it for a while, just seems like no one on this sub has ever talks about it; myself included as I don’t want to seem like a shill. Though, it is definitely picking up steam on social media as people look for the next *gem*

    Like you said, widespread adoption is still in the works, but everything is lining up nicely. Great team with a great vision.

    Definitely a bag I’m going to hold for a while. It hasn’t had a massive blow up like other alts this bull run. I expect it to make some noise soon, the market, swing traders, speculators can only ignore it for so long.

    It’s carved out it’s own niche in the crypto space, making it a pretty safe hold to at least dip you feet into.

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