“What about this Pairs trade ?” – is a new format of introductory articles created by RevenueBot. Every week we will be providing you with updates on a new trading pair that has reached the top, according to the transactions completed through the service. In addition to providing information about the token, we will also check the trading pair in a bot simulation and see how much of a profit the trader could have made on it, over a period covering the past 60 days.
About the ConstitutionDAO (PEOPLE) token
ConstitutionDAO was designed by crypto-enthusiasts, and it was quite an interesting project, created by crypto-enthusiasts with the goal of acquiring one of the first copies of the U.S. Constitution at Sotheby’s auction. The copy was available in the form of an NFT token. This is exactly what ConstitutionDAO was created for, and the organization was able to raise over $47 million through crowdsale by creating its own PEOPLE token.
As of today, the token’s market capitalization is $387,469,544. The token is listed on Binance, OKX, FTX, Mandala Exchange, Bitget and several other cryptocurrency trading platforms. The digital asset has the ERC-20 standard, so it can be stored in many cryptocurrency wallets, such as the well-known MetaMask.
The turnover of the full initial public offering is 5,060,137,335 PEOPLE. These funds were raised during the previously mentioned crowdsale, involving 17,000 investors of varying levels. There are no opportunities for token staking now, as ConstitutionDAO has been disbanded. The only possible way of becoming a holder of the digital asset is by purchasing a coin on exchanges offering withdrawals that support the altcoin.
The advantages of this token are that it is available on major cryptocurrency exchanges such as Binance and OKX. As reported by Dune Analytics, 55% of the tokens have been burned by their holders. This, in turn, has affected the value of the remaining PEOPLE in circulation, by reducing their number while there is steady demand for the digital asset among traders.
Disassembling the pair
A bot with a $500 deposit will be used as an example. The settings of the bot will be default ones, you can select them when setting up a “Normal trading mode”, which implies a 25% overlap of price changes, 20 orders, and 5% martingale.
Assuming that the bot traded on the PEOPLE/USDT pair from December 9, 2021 to February 8, 2022, with the LONG algorithm, we get the following results:
Hence, over the past 60 days, the trader was able to make a profit of 0.00232450 BTC, which at the current exchange rate amounts to about $9.
Without a doubt, to some people it may seem that the gain made in 60 days is quite small, and to some extent, they will be right. The Crypto market is so volatile that, in some cases, it can generate several “X’s”, but this is more of an exception to the rule. It is much more common to lose all the money that you have invested than to make huge profits in a short period of time.
When it comes to RevenueBot, trading is automatic and requires a very minimal amount of attention from the trader. Of course, if you select more aggressive settings for the bot, it will require more attention. However, the example that we gave used the usual normal settings that involve minimum risks for the deposit. We can say that these bot settings are extremely conservative: the profit is not high, but the risks also tend to be zero.
You can use RevenueBot to create a stable passive income. The platform allows you to create trading bots on top cryptocurrency exchanges such as Binance, Bittrex, FTX, OKX and others. The creation of the bot is free, the platform does not charge any fees until the user starts to make a profit from using the bot for trading. We would like to point out right away that the bot does not have access to the clients’ funds on the exchange, it simply trades using API-keys, which means that the exchange account is out of reach. RevenueBot has more than 40 thousand clients, who are making profit with the help of trading bots.
However, this is not an exhaustive list of the advantages offered by our platform:
- The commission fee is charged only after the user has made a profit;
- The bot settings open up a variety of ways to make a profit;
- RevenueBot has a marketplace where customers can buy a ready-made bot so they don’t have to create their own, or they can also sell their own if the configuration has proven to be effective. Furthermore, users can acquire in the marketplace the services of a mentor (an experienced user of the platform), who is ready to answer questions from beginners. Over time, you can become a mentor yourself and earn an extra income from it.
- Regular updates of the platform’s features, which optimize the trading process.
- The RevenueBot referral program allows you to earn money without having to trade. Refer new clients to the platform and you will get up to 30% of the platform’s commission on all profitable transactions conducted by the new user attracted by you every month (but not more than 15 USD).
So, as you can see, the platform’s advantages are quite numerous, all you need to do is start trading. And why list all the pros when you can check everything yourself on the official RevenueBot website.