LBC value is stable despite SEC lawsuit

LBC value is stable despite SEC lawsuit

By kasra_mp | LBRY geek | 11 Apr 2021


As you may have already known, SEC (U.S. Securities and Exchange Commission) lawsuit against LBRY Inc., which builds the LBRY protocol. The allegation is about LBRY Inc. selling LBRY credits (LBC) to fund their work without registering them with the SEC.

Despite all the chaos going on, the LBC value seems to be stable, at least not dropping dramatically. As of 11th April 19, each LBC costs 0.249$ major exchanges.

However, that may not be the case in the long run. All and all the outcome of the SEC lawsuit, the cryptocurrency market situation, and the Odysee.com userbase are the ultimate players in determining the value of the LBC token.

We barely can predict the outcome of the SEC lawsuit, except knowing that LBRY Inc. is striking back with a Change.org petition and the Help LBRY save crypto campaign. I hope those attempts yield something positive not only for LBRY and LBC but for the entire cryptocurrency community.

Regarding the cryptocurrency market, the general trend looks bullish still, although it's going through its ups and downs. Let's have a quick look at BTC and LBRY trends in the last three months as a picture is worth a thousand words :-D

LBRY trendBTC trend

Last but not least userbase of Odysee that is one of the value propositions of LBC is growing at a higher rate, thanks to YouTube and SEC stupidity.

YouTube has introduced community guidelines a couple of months ago that resulted in constant striking and removal of many channels because creators (including myself) uploaded contents way before the new rules come into effect. That created an atmosphere that turned to be quite positive for LBRY/Odysee. Many famous YouTubers started to look for backups, and what's better than Odysee.com that they can right away earn some LBC in addition to the YouTube ads. That spread the words, and Odysee came into at least YouTube creators' and watchers' attention.

Additionally, the SEC lawsuit brings Odysee and LBRY on top of cryptocurrency news. Hence many people who haven't even heard of the LBRY started to read more about it and even join the platform. So I'd say it was free advertising for LBRY that resulted in a net positive userbase growth.

My prediction

My prediction is the LBC value would be either all or nothing. If the LBRY manages to win or at least settle down the SEC case, the LBC value would skyrocket as that shows how LBRY Inc. is determined and committed. In case of loss, the value of LBC would drop massively (at least in the short run) due to the fear factor that essentially has the domino effect of high supply and low demands.

 

If you wish to sign up for the LBRY/Odysee.com, you can use this link (referral) and earn additional 8 LBC after confirming your account.

How do you rate this article?


2

0

kasra_mp
kasra_mp

Crypto and tech enthusiast. Into free/open software, privacy and decentralized, self-governed platforms.


LBRY geek
LBRY geek

All about LBRY and LBC.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.