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RE: Bitshares (BTS) Update: VERTICAL PRICE MOVE...IMMINENT!!
bitCNY is chewing up BTS circulating supply, currently 5% of BTS is locked up as collateral to create bitCNY. Bitshares is the only crypto on the planet that creates stable coins (bitUSD, bitCNY, bitKRW etc.) using collateral to keep things honest and transparent. BTS is going to need to be worth hundreds of dollars to meet market appetite for stable coins. It is very likely that bitCNY will continue to grow exponentially as more and more exchanges start using it as a trading pair. This will drive BTS price up, and up and up. $342 BTS may well be here sooner that we all expect.
Thanks for sharing your thoughts. That's wild to think about! I believe I heard that 20% of all BTS are locked up, maybe that is the total of all bit asset lockups. The market cap of all the smart tokens are really growing so it looks like the upward price pressure on BTS will continue to rise. Onward and upward!