Could TerraM coin price reach $2 in 2023?

Updated: 23 December, 2022 seen 62

At the end of December 2022, I minted 10,000 TerraM coins with an aim to raise $10,000 for covered call writing on Ethereum.

TerraM coin has been on the blockchain for just some mere 2 weeks and has already raised about 13% of our total goal, for truth's sake, the largest investor still am I.

Nevertheless, the funds have been deployed to the Deribit trading platform for covered call writing and already we have distributed the first week's profit of $24 back to the token holders, and are on the track to distribute about $67 for the second week.

See TerraM on the Solana Scanner

These are quite impressive numbers and give about 7% return in about 10 days.

At the moment there are two options available on how to invest with TerraM coin - either purchase directly from me at the rate of 1 USD: 1 TerraM (7,798 TerraM available) or swap them on the Raydium liquidity pool at the dynamic rate, as of writing this: 1 USDC ≈ 1.096008 TerraM (80.54 TerraM available)

With time (weeks and months) the total liquidity will increase on the Raydium poll, while the total amount of coins will decrease for direct purchases, as every Friday we add 20% from our weekly profit back to the liquidity pool. For every earned $100, the liquidity pool will increase by $20)

Answering the question - Could TerraM coin reach $2 per coin in 2023?

Yes, we truly believe TerraM coin will reach at least $2 per coin in 2023. Again there are two options I see TerraM could reach a $2 price per coin. One and the easiest way, but also speculative is on the Raydium Network. Say there are 80 TerraM coins available on the Raydium network, and their value right now is about USD 0.88 per coin.

Some could buy out, say 32 TerraM coins paying 50 USDC (slippage at Raydium is dynamic), leaving the pool USDC 122 and 48 TerraM coins, meaning the price would increase from 0.88 USDC per coin to 2.54 USDC. Now in theory the price for TerraM coin would increase, but in reality, it would represent only 0.48% of the total supply out of 10,000 coins.

The longest, but much more reliable path to get to the $2 per coin, would ask total assets under the control of TerraM coin should increase to at least $20,000, or by about 15 times from the current levels. In the dollar term values, it would ask to add at least $1,560 every month and of course, make sure there are no drawbacks.

For a crypto Fund I wouldn't say $1,500/mo is a lot and a couple of years ago I would most probably add them myself every month.

As we are still raising $8,000 in capital and we are already showing quite promising results - I truly believe TerraM coin will reach $20,000 in assets in 2023.

From the coins listed on CoinmarketCap, a $20,000 market cap sounds like a joke, but this is the joke we are currently pushing forward.

There are still 7,798 TerraM Coins available for direct investment, and also 80 TerraM coins are available for swapping against USDC on Raydium. Feel free to contact me, leave a comment or learn more about TerraM tokens.

What are your thoughts about TerraM coin reaching $2 per coin in 2023? Leave me a comment, readers and I would love to hear!