Updated: Apr 7
Since inception $lyxe has risen in price significantly on Monday compared to the rest of the 6 other days of the week. The only day that has had an overall negative return was on Wednesday. These results showcase that the overall appreciation in price has been more consistent than other tokens & projects, as there is not a significant pattern in growth on some days and decreases in others. Furthermore, it showcases that $Lyxe is moderately decorrelated to $btc & $eth. $Lyxe since its inception has consistently grown even when $eth is decreasing & $btc as well.
Ideally this pattern continues throughout the rest of 2021.
The $Lyx distribution has gone as planned - with the circulating supply still being relatively small. One risk is with the pace at which $lyxe is launching - as new competition from the many new various projects focused on the #nft space has risen. Originally, especially in last summer with the boom of defi projects and tokens, $lyxe was competing in a less congested market. As #nft comes to the spotlight - projects will continue developing associated with this market.
First mover advantage is key and $lyxe has an advantage over new projects recently launched. Furthermore, the target market of fashion & lifestyle, is not the same as more general segments such as art, sports, & more. $Rari is moving at breathtaking speed and has already received investments from Coinbase and had celebrity endorsements.
The point of difference between $rari & $lyxe is potential for mainstream adoption. Having Marc Cuban interested in your project is one level of awareness, but having Nike, Chanel, & Burberry as branding partners is at a completely different status. These are each global powerhouse brands that shape the fashion world. If $lyxe can reach a new digital token user, outside the current demographic for cryptocurrency investments, then $lyxe will dominate at a scale not experienced thus far in the digital asset space.
Quote from the Daily Hodl -
"Lukso is geared up for mainstream adoption as the project’s advisory board features executives from well-known brands such as Nike, Chanel, and Burberry."