My concerns with APX, the Appics token by pele23

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steemleo · @pele23 · Jan 14 '20

$0.25

My concerns with APX, the Appics token

# Will the users get stuck with the bag?

I have pointed out my concerns about the transparancy of Appics and the APX token a few times here, and never got any answers, which is worrying in itself. But due to some research I have a few more concerns. I checked the accounts that are holding most APX tokens via this link:
https://steem-engine.rocks/tokens/apx/richlist

![appics.jpg](https://ipfs.busy.org/ipfs/QmSQxfPrd9VQ1VCkntJ8uvo5fwTqp9bJQPngAXut7tuHrc)

There you will find some very big accounts holding tens and hundreds of thousands of APX. Which were acquired through the ICO of XAP or in some cases premined, who knows who bought and who didn't.
Today around 31,5 million APX is staked, and the biggest holder has almost 800k of APX, that is a lot.
But that is not my biggest concern.

![Knipsel.JPG](https://ipfs.busy.org/ipfs/QmeEiWYKsJ5BjgLQYQCDt9LnYsyP9KsB78ddbFruWsgxfG)
*The amount of APX staked by the number of accounts*

My fear is the amount of APX that is currently being unstaked. I counted the amount that is being unstaked of just the top 200 accounts, and the amount is staggering.

![Knipsel1.JPG](https://ipfs.busy.org/ipfs/QmVe5LEyF2mTmmCtgzcpD8zSBwXTsrfsJSFnY6T25NyrbC)
*A screenshot of some of the accounts that are unstaking*

2,5 million APX is coming on the market in the first days or weeks. That is immense. Such an amount can only drive the price of APX down to less than a penny. It is currently valued at 0.02 $, but started around 0.10 USD. So my concern is this: are the big guns going to unload the bag to the unknowing "mass"? I don't know, but I definitely fear so. It would be such a waste, for a project that has a lot of potential! I am only saying to people, be wary, and do your due diligence.

Sincerely,

Pele23

👍 freddio.sport, busy.pay, arunava, pele23, sbi4, atongis, emergehealthier, jozef230, portugalcoin, pixelfan, taskmaster4450le, dylanhobalart, milaan, divine-sound, simplylars, chadrona, caladan, ptaku, addo.sports, videoaddiction, battebilly, jsantana, boostme, duartenunes, cubby, fcb.spt, hongdangmu, dianna1, aikiado, techken, bpn, tiffin, sembozezade, decepticons, skylinebuds, gabalar, devilsdad, prosper11, exe8422, putu300, gear.nsnow, davidesimoncini, botefarm.lass, retropetrol, cryptoandsports, moeenali, yameen, groynes, dalzphoto, adem3455, anonyvoter, city-of-truth, fallrain, sportlion, sportsport, mryoga, igel, powersport, yogasport, kingsport, cn-zzang, goldmann, rus-lassecash, nesim, and 15 others

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@russia-btc · Jan 14 '20

I agree with you bro - I think the price will fall 10 times!

👍 pele23

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@pele23 · Jan 15 '20

Could be indeed, it’s quite stable now, but for how long?

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@taskmaster4450le · Jan 14 '20

I am not sure this is all that unusual.  I think your assessment is spot on, lower prices  are on the way for APX.  However, most projects have the early players unloading and cashing out, especially if there was a premine.

We saw it repeatedly with all the SE tribes, even the strong ones.

Easy money means people will sell as soon as they can.

<hr><center>Posted via <a href="https://steemleo.com/">Steemleo</a> | A Decentralized Community for Investors </center>

👍 leothecat, leo.curator

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@jozef230 · Jan 14 '20

I agree 100% and price drop down regulary. I'm afraid to invest in SE tokens and see what's happening now.

Posted using [Partiko Android](https://partiko.app/referral/jozef230)

👍 pele23

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@pele23 · Jan 14 '20

A lack of transparancy is never a good thing, and the loads that are being dumped right now, are just nuts. It could sink the entire project. So for me it is a thing, it shouldn't have to be this way. But I'll keep using it, I like it, just not what is happening right now!

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