Exchanges are the platforms and companies in crypto that are actually making money. They are making the most money of anything, hands down. No questions. There is no arguing this. People love to play the market. Crypto is a fast-growing market, and it is truly global.
If, a big IF, this company can build even a less-than-MEDIOCRE crypto derivatives exchange, that is functioning with some users, shares at these current prices will end up being extremely extremely undervalued.
I know nothing about this exchange or the executives running the company.
But the global market for crypto is much much hotter outside the United States and ExCoin is positioned outside the US which is ideal. The exchange tokens trade at market caps well over $1B for leading crypto exchanges. Those tokens do not have the same properties as real shares in the equity of the company.
I think taking over the CRGE shell was a brilliant idea. The share structure seems favorable. Hopefully Excoin leaders can successfully execute their strategy and roadmap.
If so, this thing is going on a moon mission.
Look at the market caps of even the shittiest of crypto exchanges and protocols. Much much higher than this stock. And they don't even represent ownership in the entity.
To me, this could be a tremendous shitcoin play, if Excoin isn't a complete scam. The risk reward seems crazy good with this one at at $10 million market cap compared to the current liquid valuations trading in the shitcoin market.