Early May Update: Technicals
It makes almost no sense to do any technical analysis on KIN token as it is worth less than a satoshi. It is clear that this token can take off only on solid fundamentals, which we cover further below. But if you plan to buy and hold some KIN, arm yourself with patience, a lot of patience as the KIN ecosystem is huge by design and it takes a lot of momentum to lift it up and get it going.
Trading volumes are not looking good with reported volume being a laughable $19k in the last 24 hours.
Moreover, KIN comparatively has almost non-existent buy support, according to coinmarketbook.cc. Buy support is measuring sum of buy orders at 10% distance from the highest bid price. This way we can eliminate fake buy walls and whale manipulation and see the real interest of the market in a certain coin. KIN currently has minuscule $21k of buy orders measured with this method, which sets KIN buy support/market cap ratio at 0.031% which is a rock bottom figure. Bitcoin and Ethereum have a 0.27% and 0.28% ratios, respectively. This novel metric indicates there are a lot of manipulations, inflated liquidity and fake orders on KIN trading pairs.
Early May Update: Fundamentals
To assess fundamental health of a project, we used the FCAS metric. FCAS is a comparative metric whose score is derived from the interactivity between primary project lifecycle fundamentals: User Activity, Developer Behavior, and Market Maturity.
There are a few sub components which provide data to each fundamental:
User Activity is comprised of Project Utilization and Network Activity
Developer Behavior is comprised of Code Changes, Code Improvement and Community Involvement
Market Maturity is comprised of Liquidity and Market Risk. Market Maturity has less than 5%…