$OPEN — State of the Market — Jul 2022
Summary
OPEN after increase another 13% in June, combined increased 66% from the beginning of May, is now trading in a range between $0.045-0.055.
Breaking $0.045 clear the way to go back to $0.036 and then 0.030.
Breaking $0.055 clear the way to go up to $0.075.
Seed Round private placement is happening, albeit at a significant slower pace than anticipated, thanks to Crypto winter.
OPEN Bond is being released on Harmony Mainnet on July 7th, target to raise $20K-$30K Liquidity Pool for OPEN/ONE.
Harmony $100M bridge hack is also a negative event that weights into OPEN’s Harmony’s Mainnet bond and token release, as well as launching OPEN’s digital world on Harmony Mainnet on July 7th.
.
Technical Analysis
This is the snapshot of the price chart of $OPEN from DexScreener:
OPEN increased +13% from $0.047 to $0.053 in June.
Cumulatively, OPEN increased from +66% in May and June amid crypto winters:
BNB: -45%
BTC: -48%
AXS: -56%
ETH: -61%
SOL: -62%
AVAX: -71%
GMT: -75%
Liquidity Pool for OPEN is now increased to a combined of $95K from previously only $55K in Apr. The Liquidity Pool is distributed as follow:
$72K in OPEN/BUSD
$14K in OPEN/BNB
$9K in OPEN/XBN
About 8M OPEN still locked in 260-Day Bond.
Look into July, it will be important for price of OPEN not to move below 0.047 and especially 0.045. Though if it break 0.045 it doesn’t mean the uptrend is compromised. It can be an expanding triangle consolidation. But it means the consolidation period is now pronounced.
Toward the upside, 0.055 is key to cross and should that happen, then 0.075 will be next target.
.
Seed Round
Seed Round private placement is happening.
Disbursed Capital: $30K
Next in line capital commitment: $100K
OPEN’s Seed Round will shift to not a single-time event, but might be a series of small checks through months toward the very beginning of Series A.
Budget wise, we can sustain the next 12 months under current budget.
Market sentiment on capital raising is extremely weak and conservative.
.
Other Development
We are releasing OPEN Bond on Harmony, target to raise $20K-$30K on Liquidity Pool for OPEN/ONE. The Bond is accessible here (open for purchase on July 7th): https://onebond.openworld.vision/
We released OPEN’s digital world on Harmony Testnet, about to release on Harmony Mainnet on July 7th as well. Detail on Harmony launch can be followed here: https://talk.harmony.one/t/openworld-metaverse/15432
We are building OpenWorld DAO and will release the details very soon.
For general project info and data, it is here: https://linktr.ee/openworld
.
Tri
Disclaimer: Not financial advise. I hold $OPEN. I’m the Co-Founder/Co-CEO of OpenWorld.