$999 ENS
FP: 0.059
Secondary Market: https://www.ens.vision/market?tab=all&filter=%7B%22startsWith%22:%22$%22,%22maxLength%22:%224%22,%22minLength%22:%224%22,%22tags%22:%5B%7B%22name%22:%22numbers%22,%22type%22:%22include%22%7D%5D%7D&sortOption=0
Twitter: https://twitter.com/999cashclub?s=21&t=8mhit7dk436pI7HESflXKg
Discord: Coming soon
Entry: 0.04-.07
Exit: .2+
Supply:1000
Listings: 85 till 0.2
Analysis:
There is a normalization update coming soon for ENS domains. This update will 100% have $ in it, so $ will become a valid/approved character for ENS. During a ENS twitter spaces when this alpha was leaked about 3 weeks ago, the floor price of the $999 club pumped to 0.2+ eth in one day which was a 500% increase. There is no category on ens.vision for $ yet since it’s not normalized. You can’t buy or sell on Opensea and you can’t set it as your primary domain at the moment. A lot of the supply won’t be on the market soon, most of these domains expire this month and many people aren’t extending immediately. They have 90 days to extend their domain and while it is in the “grace” period they can’t list the domain on a secondary market.
Opinion:
Many people don’t know that $ will be an accepted character soon, some people believe it won’t be accepted, it’s also a bit difficult to find the domains on ens.vision if you don’t know what you’re looking for. In my opinion, these factors are a big reason why the floor price is quite low and has dipped about 70% from the ATH. Out of all of the characters being normalized in the update, I firmly believe that $ and — are not derivatives. There is a direct link for $ and — with numbers that does not need to be explained. Unlike the following characters _ , • ,0x that have no direct/logical correlation with digits, thus making them derivatives. Currently the -999 floor is at 0.7eth, they’ve done an outstanding job at marketing and cultivating a community. I believe the $999 club will catch up to at least 50% of the negative 999 floor eventually(my conservative estimate). Also the $99 floor is at 1eth so technically the $999 floor should be around 0.1 so it is a bit undervalued atm.
Once the normalization update is implemented (hopefully in october), ens.vision & other secondary markets will be creating categories for the $999 club which will in turn provide more liquidity and increase exposure for the collection. The OG 999 floor is at 39.5 eth … 99%+ of people in the space can’t afford to spend that much on a domain, I do believe that the $999 club is an extremely lucrative opportunity for a cheaper entry. There’s a huge psychological weight behind the $ symbol, our society runs on money, everyone in the world knows what $ means. Considering many of the $999 domains won’t be extended right away, IF normalization comes in october/november this could create a supply shock causing the price to pump a lot faster considering a lot of the supply can’t be listed.
What’s my plan?
I own 10 $999(cost basis 0.06), I will be selling around 5–6 between .3-.4 once normalization comes then I will be riding the rest for a moon shot of 1+e. I honestly do believe these have the potential to hit a 2+e floor but I’m v bullish on cash tag so that is a biased opinion.
My advice:
If you do decide to enter into this call and are tight on liquidity you should be taking profits earlier than 0.3. You should always take profits and do what’s best for your risk tolerance. You know your risk tolerance better than anyone else.
Disclosure:
- I own 5 $99, 10 $999
- Most of these domains will be expiring at the end of september since they were only registered for 1 month. It will cost you 0.01 eth(approx) per month to extend the registration.
- only buy domains that have $ leading, do not buy $##
-I made this call in my projects discord yesterday
https://predomain.eth.limo/ < — extend your domain here
Shameless shill:I’m giving out free 2 week trial memberships to my project Oasis Awakening (: ! Just join the discord and ask for MrAlpha! Much love!
