No no, I don’t have a crystal ball. And if I did, I would probably not be telling everyone on the Internet now would I? But I am kind of curious to know how much would the price of these type of tokens would be. I am talking about Eagle Mining Network’s Eagle Token. They are not available to trade publicly on exchanges yet, so there is no real way to know how much they are worth at the moment. However recently, Eagle Mining Network just released their “bulk” purchase which simply means that instead of slowly mining for the Eagle Tokens, you can buy a huge ton of them wholesale and at a supposedly discount. Think of it like those ICOs you get during the 2017/2018 crypto craze. You get a bunch of them at a discount.
So it seems that they are selling those bulk at the following prices:
5 BUSD = 21,000 EAGLE, 25 BUSD = 101,000 EAGLE, 50 BUSD = 201,000 EAGLE & 100 BUSD = 501,000 EAGLE.
Yes, seems like they have a slight typo for the 25BUSD & 50 BUSD plan, which seems to net you less than what you paid if you had purchased a smaller amount. Anyway, at the most expensive price point, it looks like 1 EAGLE = 0.000238 USD, since BUSD is pegged to the USD. BUSD is the stablecoin for Binance. So if we were to consider that this “bulk” plan was sold at a significant discount, then would mean that the price could (potenitally) be much higher than that. So assuming that the actual EAGLE token is about 10x what was in the Bulk purchase price, then 1 EAGLE = 0.00238 USD. Of course we will not know until the token is publicly tradeable but this is a “very extremely” generous estimation. I honestly doubt that the price will go that high. And as I have been mining for over 3 months and have made about 5,000++ EAGLE tokens, that would mean for the past 3 months, I have made about 11.90 USD. And this I would say is the higher end of the estimate.
So is it really worth it to do mining with the Eagle Mining Network? Well it surely does not look like it is worth mining right? You need to tab a button everyday (which I have been doing quite diligently daily) and maybe even spin a wheel for the faucet and get approximately 4 USD per month for the effort. I think even the electricity to charge the phone will be higher than 4 USD per month. And we don’t even know that the project will even succeed. Sure the Eagle Token might go to the moon when it officially launches but looking at the market right now, it is not very likely. And they do have a lot of competition with Pi Network and Bee Network. These are more established than Eagle Network.
I don’t know. The project did seem to be going along just fine. But when they announce the “bulk” plan with that kind of pricing, I am a bit worried. I am not expecting that each EAGLE token to be like 1 USD but at these rough estimates, honestly it does not seem worth it to do any sort of mobile mining on their application. And as usual, I would never recommend anyone to pay for these bulk purchases either. Unless you have a lot of confidence in the project, most of these projects will usually fall on the wayside. But all is not lost though. It seems like Eagle has a number of projects in their pipeline though. Staking is come to the Eagle Network! They claimed that it should be available next month, so that is something to watch out for. And they are working on several decentralized applications like web based decentralized exchange (swap) and a crypto wallet for swaps. So yes, I am currently doing a wait and see approach.
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[…] and it looks like quite a lot of tokens were sold during this pre-sale. I happened to make a post on this and it indicates the approximate price and what I would expect from the actual price of the […]