Did you miss the PulseChain and PulseX sacrifice phases? You should definitely watch this video. PulseX is a very interesting project. But there is another even more interesting project coming up, and Richard Heart is working on it right now. With this, the PulseChain ecosystem will be complete. We will have a chain, we will have a DEX, and we will have a Swap like MetaMask. In this video, we'll take a look at the potential of this new project. Watch this video all the way through so you don’t miss anything.
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So what is Wallet Coin and why do people think it has more potential than PulseChain and PulseX?
Before we give you the reasons why we think a wallet coin is a revolutionary idea for Richard Heart's next project, it is first essential to understand what a wallet is in the crypto world.
To explain it in our own terms, a wallet is an electronic wallet that allows you to easily make payments using crypto. However, the crypto-currency itself is not in the wallet. In fact, in the case of bitcoin and the crypto-currencies that derive from it, the crypto-currency is stored in a decentralized manner and kept in a publicly accessible distributed ledger called the blockchain.
So technically, your crypto-currencies live on a blockchain, and your wallet password gives you ownership of the crypto-currencies you own, giving you the freedom to do whatever you want with them. And since the Ethereum blockchain is one of the most active blockchains in the world, MetaMask Wallet, which is an Ethereum wallet, allows users to access Ethereum-enabled applications. And as applications grow on Ethereum, the demand for MetaMask is also growing. This is evident boosting the growth of MetaMask over the years. Today, it has over 21 million active users and is valued at over $3 billion.
The total number of applications on MetaMask has grown to over 3,700 and will not stop there, as MetaMask makes Ethereum more accessible.
This became apparent in 2020 when MetaMask introduced its own swaps, allowing millions of users to remove the friction of going from one DEX to another just to exchange tokens. To make this a reality, MetaMask has integrated data from the largest liquidity sources within its ecosystem, which includes uniswap and many others.
MetaMask’s exponential growth has tracked closely with that of the Ethereum ecosystem. In 2019, $2 billion in crypto assets were committed to Decentralized Finance (DeFi). Today, Ethereum supports a flourishing Decentralized Finance (DeFi) ecosystem with over $80 billion in assets under management.
MetaMask is the primary way a global user base interacts with DeFi applications, along with the vast universe of approximately 17,000 unique Web3 domains, which include rare digital goods marketplace OpenSea and NFT-based online games.
With so many users, it's no wonder MetaMask is making millions every day.
And with each swap, MetaMask collects a lot of money through transaction fees. For many, these fees are quite high. And therein lies the real opportunity for Richard Heart. The world needs a more efficient and cost-effective version of MetaMask, and that's exactly what Richard Heart is creating right now.
At the moment, we don't have enough information about this portfolio, but in any way, its need is imminent. And in our opinion, its appreciation potential is greater than that of PulseX.
You may be wondering why to create a new wallet when MetaMask already exists. Well, simply because of the transaction fees and the fact that MetaMask claims to be decentralized but is not in reality.
The wallet at the edge of Web3 is not as decentralized as it would have you believe. MetaMask has prevented users from certain jurisdictions from accessing its services and interacting with Ethereum.
Users in Venezuela and Iran began reporting problems accessing their digital wallets earlier today, with hundreds of users claiming that none of their transactions sent through MetaMask had been completed. Faced with all these problems, Richard Heart thought, "Why not do this for the PulseChain ecosystem?" This will make PulseChain completely independent and protect the network from any penalties.
Right now, we don't know if there will be a token for this wallet or not. But if they create a token for this wallet, the potential is huge.
In fact, we looked at Metamask's exchange function, which they launched a year and a half ago in October 2020. For the first six months, they didn't really do much volume with the exchange feature, but then they just started raking in the cash. While no one was looking, Metamask started printing, making $170,000 a day in fees on a volume of 20 million a day. That was a year ago. Yes, the numbers are bigger now. This gives an idea of what we can expect if Richard makes a coin for this upcoming wallet, which is not just a typed token with only $20 million in volume per exchange. Actually, Metamask is doing about $200,000 a day. And that was a year ago. That's 1.23 billion, like the cumulative volume. They've done well. Now they have almost 19 billion, and 18 of those billions came in one year. Now, if you do the math, 18 billion times the service fee, which is 0.875% per swap, they just take that amount out of what you trade. So, if you trade $10,000, you get $87.5. That's what they make on that amount, which when there are billions of dollars, that's the number of annual returns, which is crazy. Imagine if they turned that generated fee into Ethereum.  And since they've been doing that, the revenue they've earned since Ethereum appreciation in 2021 is 350 million.
That's almost a million dollars of revenue a day. Imagine if the Richard Heart token had similar tokenomics to PulseX buy and burn and they used that revenue to buy their own stock of tokens on the market, then burn them.
Now, let's assume that the buying pressure for this currency is only half, say $500,000 each day. If you put 15 times more cash than the buying pressure in the token that is attached to the wallet and there are transactions totaling $100 million, since the price moves in a square shape, if you put 15 times the buying pressure in the token that is attached to the portfolio and there is $150 million pushed in, let's say it was just a market order, rather than spreading it out over time and assuming buying and selling, you will have to square that number. Therefore, 15 times 15 is equal to 225 million.
So 225X the price. All buying from income would raise the price of the coin in their wallet. And that's crazy, that's if no one bought or sold.
Now if we want to measure the success of this portfolio against Metamask, since January 2021, driven in particular by the rise of the DeFi and NFT ecosystems, Metamask has seen an almost exponential increase in its number of users. Finally, at the end of August 2021, MetaMask announced that it had surpassed the symbolic 10 million monthly active user mark. This represents a 3,800% increase from June 2020. The main reason for this increase is the growth of the DeFi and NFT ecosystems. And in our opinion, this new upcoming portfolio on the PulseChain ecosystem will be the most accessible to interact with these ecosystems simply.
What do you think about it? Do you think it could be a good investment? Share your thoughts with us in the comments section below.
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