When a new token comes onto the block, it can generate a lot of buzz… At least if the marketing team behind it is doing its job. And when it comes to Green Moon crypto (GRM), that appears to be the case. But is the hype behind it warranted?
In just a few of days after its launch, Green Moon’s value shot up a couple thousand percent. Maybe we’re a bit jaded about these initial coin offerings, but for that just doesn’t seem sustainable. But the promise of riches is capturing the attention and imagination of investors. There are a couple of red flags to note though.
First, Green Moon crypto is marketed as a long-term hold. A 12.5% tax is applied to any buy or sell transaction. This tax is then applied to three things. A third is used to return liquidity to ensure stability to the token’s value. Another third is used to repurchase Green Moon and then destroy it. This is done to keep the value going up. And the last third is applied to marketing purposes.
While none of that sounds terrible on paper, the project’s white paper notes that over time this should increase the value of each Green Moon crypto token to $21,000,000. That’s a pretty grandiose figure for a token trading around $0.007 a piece. Don’t