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Echo Insight - Our Analysis on $SRBP

Introduction

At Echo Research, we strive to provide unique and top quality crypto insights to our members and followers. Our research topic this time is the $MLS and $SRBP token in Pikaster.

$SRBP is the rare game token in Pikaster - the leading GameFi project on KCC. The initial circulation supply is 1M tokens, pre-minted, and the rest are minted in-game. Many players should know that $SRBPs are extremely difficult to come by in-game; the main method will be through the World Trees conversions. Meanwhile, $SRBP price has been stable at large without too much selling pressure, neither from institutions, retails nor the team. We deduce that the circulation supply in secondary markets must have been extremely low.

Fundamental Analysis

New Release & World Cup: We have noticed that engagements have been high in Pikaster's communities, with a lot of positivities among players. We have also learnt from sources that the second game from Metaland - a football-themed SportFi coinciding with the World Cup narrative - is already in the final stages of development. Sources stated that the plan is to release the game this November, deploying exceptional resources for marketing purposes and will be available on multiple chains including BNB, Polygon, Solana and obviously, KCC.

SportFi Concept: We are highly anticipating the new game, not only because of the release will match perfectly with the World Cup, but SportFi has not been widely heard of. We are excited to see what the Metaland team will pull off.

Cross-game asset: Our deduction is that due to scarcity, $SRBP is likely, and also logically, to be adopted in the second game, following the fact that the Metaland team is building an interconnecting metaverse of games. Obviously, there is no concrete evidence as of now, but the possibility certainly is in the air. If what we have deduced is indeed true, $SRBP should have even more use-cases in the second game, and therefore ultimately, the token itself represents a store-of-value. (Imagine a common game-token across multiple games with different in-game use-cases.) In this case, we anticipate a price break-through for $SRBP in the near future.

CEXes Listing: Currently, $MLS is the governance token on Metaland. Sources have indicated that $MLS will be listing on Gateio, Bybit as well as Binance. We believe that $SRBP will follow suit quickly afterwards, in order to circulate in the market early for liquidity. From past experiences, we know that GameFi projects tend to hype up their tokens and NFTs before significant actions such as listings. We have seen the same already in Pikaster - their tokens have had a good run since the IEO on KuCoin.

Therefore, with listings on major CEXes coming for $MLS - and potentially $SRBP soon after - we are optimistic about market actions and price movements of the tokens around the new project release date. Further, following our deductions, we are confident that price actions for $SRBP will be more substantial than $MLS due to an even scarcer circulation supply. Is there a bigger play behind all these? We shall do a wait-and-see.

Technical Analysis

Opposing Price Actions: If we compare between $RBP and $SRBP, we will see that both in-game tokens display opposing price trends: $SRBP has been steadily on-the-rise while $RBP falls continuously. While $RBP has already fallen through its IEO price and seeing no signs of price stabilization or rebounds, time will be the kiss of death for the token.

For $SRBP, we do not tend to speculate on unclaimed theories, but it seems apparent enough that the team has been accumulating $SRBP.

Price Breakthrough: For $SRBP, we see drastic differences: $SRBP has stably closed a 7-day consecutive higher-highs, with the current price breaking through the previous high in the former plateau. In terms of CYQ indicators, we see that volumes on higher price ranges are relatively low - meaning few holders with average prices on the higher-end. Such accumulation phase means we are expecting a price break-through anytime soon, with a price target at least to surpass the previous high of $3.2. We should continue to closely monitor $SRBP's price actions.

Our Deductions

For $MLS, the token does not exhibit high volatility and is largely stable. Our members and followers should recall the previous hack happened back in July: Both in-game tokens have been changed subsequently but not $MLS. Logically-speaking, a considerable amount of $MLS should have been stolen on top of the in-game tokens, but given the governance nature of $MLS, we believe it is difficult to replace the $MLS on an operation level . Since the hack, $MLS price has been largely stable and this is bound to be an effort from the team, in terms of price stabilization in secondary markets.

Noting that the game has been released for around 6 months since Beta, the team continues to buy back their governance token: we are almost quite certain that the team has even greater goals, with their second and future game releases. The team has demonstrated outstanding executions and is obviously fully backed.

All in all, we are excited to find out future developments from Metaland, and more importantly, the apparently promising price movements that await. At Echo Research, we will surely monitor both tokens closely.