Hi everyone. I have received a juicy airdrop from ENS.
I am doubting whether to sell fully or partially but I have no real knowledge of the project and reason to think that the price should increase.
From what little I have been able to find out, it is a governance token that has been created to decentralize ENS and replace the multisig 4 out of 7 system, I understand that and I find it interesting from a deccentralization point of view.
But from an investment point of view I am not clear why there will be people who want to have this token and that there will be demand for the one that causes the price to increase over time. Participating in the governance of ENS does not seem like something that can attract investors, it does not bring any benefit to anyone. Maybe I’m wrong, (that’s why the thread title)
From my humble investor logic I have not sold yet because many people will be doing it just claiming the airdrop and it is logical to think that the selling pressure must be strong and therefore it is not a good time to sell. On the other hand, I see that the price has some buying pressure around $ 40 and that is because there are investors who want the token, which gives me some optimism regarding the future evolution of the price.
As I have said before, my knowledge does not understand why there are people who want and who will want to own ENS tokens. Surely there will be many reasons that I have not been able to see and that is why I ask.
Thank you very much in advance for your comments.