Maya Preferred 223 (MAPR) capitalization may overgrow the one of Bitcoin, the flagship of the crypto market. A market cap of MAPR now could be about the capitalization of Binance Coin (BNB), already overruning Tether, Stellar and Cardano.
Maya Preferred 223, the Ethereum Classic-based state-of-art ERC23 token, recently hit the crypto market, appearing at FatBTC with an initial price of about $1500. In a week the price for a coin rose to $2200 at the moment of writing, and it keeps growing.
Why the price is so high?
The final price of the token is anticipated to rise to $18.500 per each token, since each MARP is backed with this amount of gold and silver via company’s partnerships with seven large precious metals’ assets located in Mexico.
James Dahlke, CEO and founder of Maya Preferred 223, in his latest interview, states: “This is a very simple mathematical equation. There’s approximately $18,500 worth of gold and silver backing each token as of today and that backing will only go up. Every time we add more tangible assets to back Maya Preferred 223 the price of Maya Preferred 223 should go up. Now if you add to the equation that there are only 1 million tokens available it makes the token worth even more because of its low float, which gives the coin the chance to rise very quickly. If you take into account the assets that are backing our token plus the limited amount of tokens available, this token is worth a lot more in our opinion than what it is trading at right now, and even more than its own backing of $18,500 per coin”.
Champions in market cap
The simple calculation of the recent price of the token ($2200) multiplied by the number of available tokens (1 million) gives the amount of the token’s capitalization, $2.2 billion. As a comparison, the capitalization of BNB is now $2.3 billion, and the one of USDT and Stellar is about $2 billion, Cardano’s market cap is estimated at $1.7 billion.
Assuming that with such rapid growth MAPR price hits announced $18,500 per token, it will be the second after BTC with a capitalization of $18,5 billion, overruning Ethereum for almost $4 billion.
The goal of developers of Maya Preferred 223, though, is to overcome the Bitcoin capitalization (currently $71,3 billion) through the new partnerships with additional mining assets.
James Dahlke adds: “Right now we are in final talks with five additional mines located in Mexico. If we execute this agreement, which the company feels strongly it will, it will automatically double the backing of the $18,500 figure that currently backs Maya Preferred 223. The seven mines that currently back Maya Preferred 223 have lots of partnerships and agreements with other miners in the industry and through them, we were able to form relationships with many other mines in Mexico and around the world. We feel strongly that we can close the deal and add these other mines to our backing to double it to around $37,000 per token.”
MAPR backing assets
At the moment MAPR price is backed with the seven assets, located in Mexico: Mina del Oro, Mina CR & Mina Amplicacion del Oro, Guadalupe, La Guadalupe II, Gramos de Oro, La Fortuna, and Santiago Apostol. The total price of precious metals reserves, that these mines contain, is estimated at about $4.7 trillion.
Mexico is in top-10 of gold producing countries in the world, occupying 9th position with 3.247 tons of gold produced yearly. As for silver, Mexico is a top-1 player. According to the research of Silver Institute, in 2017 Mexico held almost a quarter of global silver production with 6.108 tons.
So, Maya Preferred 223 partners have control over more than half of country’s gold reserve, and MAPR team assures that the new partnerships, that will raise the price of the token even more, are already on the way.
Maya preferred 223 recently released proof of the gold and silver backing of it token on its website Mayareferred.io and will continue to release additional proof as it comes available.
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