I really don't understand why the market cap of this coin is so low? Can someone explain this to me? Or am I understanding something wrong? Obviously this is really risky since LoMoStar is at the beginning phase but it already has a working product? There are so many coins without actual product yet they have higher market cap.
My thoughts (Q3 2016 - Q2 2017 period):1. LoMoCoin was initially marketed only for China, with a potential expansion to overseas.
2. Although the application was released for Chinese users, it did not have enough users. A small user base will not enable the network effect, that is paramount for social networks.
3. The only large exchange to list LoMoCoin was Bittrex. From a trading standpoint, LoMoCoin is not that interesting - having a few spikes and 2-3 pumps, TA does not show clear enough entry opportunities. The investment opportunity was also unclear in Q1 and Q2, for the lack of communication from the team.
I have seen enough tokens from Chinese projects to die over time.
The marketing overhaul from late Summer has brought more transparency, long-term commitment, willingness to launch the product on overseas markets and some decent communication activity from the developer company. I agree with you that the market cap - 10 million USD, is much lower compared to other projects, but I'd rather prefer it to grow organically, with a working, usable product, growing user base and on-going development from the team, than just on rumors.
BTW:
- website was recently redesigned
- explorer gives "bad gateway" error
Did someone access the explorer recently? Want to check coin distribution and "rich list".
