I bought some YOUNG but I'm not 100% convinced I've done the right thing

By LeftFooted | bitcoinea | 17 May 2022


A few months ago, I was looking for a decent get-paid-to-walk app and found Young Step and Young Platform.


Step is the app that pays you to walk, make correct predictions about the price of certain cryptos in the next 3/6/12 hours, take part in challenges, and you also get tokens when you complete quizzes. The Step app is paired to the Platform app, which is basically an exchange to which you can transfer Young (YNG), the native token of the app, and trade it for euros, dollars, pounds or other cryptos.


The YNG token has a fixed price of €0.24 (around $0.25) per unit and could only be utilised internally... until now.


A couple of weeks ago, Young temporarily suspended all trading, sales and purchase of YNG but only because, a few days later, they announced they would list the token, which means people will be able to trade it freely and the price will be dictated by market dynamics.


I've earnt around 150-200 YNG so far and I've sold them all because I couldn't see the point in holding onto the token but now things changed, so I bought some YNG back, and I'm not sure I did the right thing.


Young said 1 million YNG tokens have been sold in the first 4 days of community sale and as soon as the token becomes available elsewhere, everyone expects it to go up. But will it?


Young said they're aiming for a circulating supply of 100 million, which quite frankly sounds like a tall order.


The sale ends on May 24, after which date, the market will do whatever the market decides to do. Fingers crossed.


I've crossposted this article on Bitcoinea and LeoFinance.

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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