Mass adoption is right around the corner, right? What if it's closer? What if we're already seeing the widespread adoption that's been sought after for so long, and the crypto space just isn't yet conscious of it.
The Dent mobile application has 13.3 million downloads. This makes Dent the most widely adopted service within the space, behind perhaps just Brave and BAT, whose total downloads also surpasses the 10 million milestone. The primary difference between the two is that BAT is valued seven times higher than DENT.
To give a high level overview, DENT is a mobile data marketplace. Users can send pre-paid data to friends and family, and they can also trade DENT to for data as needed. In some localities, users can also list their unused gigabytes in a peer-to-peer setting. This functionality of peer-to-peer data exchange is planned to expand to the other markets globally that Dent currently services as well as prospective markets Dent is looking to take on.
While the data marketplace is certainly a worthwhile service that empowers millions, a lot of the credit of Dent's success is due to the comprehensive ecosystem built around the service. Beyond trading data, users can send and receive top-up minutes. They can also earn Dent by completing offers, playing games, and participating in surveys on the offer wall inside the app. Each day, around US$200,000 worth of Dent is earned by the offer wall. Recently, the team unveiled a feature that will soon enable international calls to take place directly in the app.
With the groundwork set, let's dive into the trading prospects of the project. DENT is currently valued at 22 satoshis (0.00000022 BTC) which translates to under one tenth of a penny. With a supply of over 44 billion, this translates to a market cap of roughly US$40 million. At 22 satoshis, DENT is trading at all-time lows versus Bitcoin.
A $40 million marketcap is not an insignificant amount, but it's hard not to see that this valuation does not do Dent justice. For what is arguably the most significantly used platform in the crypto space today, its market cap rank of 112 can be seen as a crime. With millions of users across dozens of countries and over a hundred phone carriers, $40 million constitutes nothing. And given how expensive and necessary phone service and mobile data is, one can come to the conclusion that customers on Dent might translate to more value than those on other platform.
And when you look where the project is headed, the value continues to grow. When Dent begins providing international phone calls to all its users and peer-to-peer marketplaces worldwide, a case will be made that Dent could replace the middleman service provider altogether- and what a wonderful middleman to eradicate.
So, when you factor in the massive (and growing) usage of the platform, trading history and valuations at all-time lows, and the rapid and significant development in the project, the indicators are clear. Mix these with a powerful loyalty program launching very soon that will encourage word to spread, and we have a recipe success.
Not every project born in the 2017 bull run will return to their previous highs or surpass their initial expectations, but Dent might just be one of the winners. For DENT to break its all-time highs, it would need to eclipse 590 satoshi per token.