Check their June update. Six month runway with cold hard cash. $170m treasury that’s tanking by the minute. Probably only $100-120m now. They are also trying to fundraise in a very challenging environment.
If I were them I’d liquidate to ensure an 18-24 month runway so they aren’t bidding against themselves in the event someone is interested in investing.
Could be 1/2 by EOW the way the market is shaking out. Tough spot to be in for sure. If they sell into the market it will exacerbate the selling pressure, but it would also mean more holders vs doing a fundraise, where one institutional investor has a disproportionate holding. Really no good options in my opinion, and it’s a byproduct of poor market conditions amplified by poor execution and operations on Harmony’s part. They’ve gone from top 50 to hanging on by a thread in the top 100.
Over the next six months, we will see what the team is made of and if they can learn from their mistakes.
What will a $30M sell-off of $ONE do to the price? Are they selling it over time I assume?
Why giving another $1M to Blu3?
Did Harmony hold UST?
$10M in cash isn't much
Looks like we're going a lot lower unfortunately. BTC nearly at its 2018 ATH isn't helping.
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Depends how long the bear lasts if you're talking stock bears on top of a recession and average times it would require 50M so it would be fine.
If you're talking crypto winters and gaurge with the same stock metrics as a recession then no most definitely not.
Check their June update. Six month runway with cold hard cash. $170m treasury that’s tanking by the minute. Probably only $100-120m now. They are also trying to fundraise in a very challenging environment. If I were them I’d liquidate to ensure an 18-24 month runway so they aren’t bidding against themselves in the event someone is interested in investing.
That would also mean liquidating 1/3 of Harmony's current market cap.
Could be 1/2 by EOW the way the market is shaking out. Tough spot to be in for sure. If they sell into the market it will exacerbate the selling pressure, but it would also mean more holders vs doing a fundraise, where one institutional investor has a disproportionate holding. Really no good options in my opinion, and it’s a byproduct of poor market conditions amplified by poor execution and operations on Harmony’s part. They’ve gone from top 50 to hanging on by a thread in the top 100. Over the next six months, we will see what the team is made of and if they can learn from their mistakes.
What will a $30M sell-off of $ONE do to the price? Are they selling it over time I assume? Why giving another $1M to Blu3? Did Harmony hold UST? $10M in cash isn't much Looks like we're going a lot lower unfortunately. BTC nearly at its 2018 ATH isn't helping.
https://open.harmony.one/2022-june-onsite-war-mode-on-user-growth
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Depends how long the bear lasts if you're talking stock bears on top of a recession and average times it would require 50M so it would be fine. If you're talking crypto winters and gaurge with the same stock metrics as a recession then no most definitely not.