Mintlayer | Published May 9, 2023
Mintlayer is a Bitcoin layer 2 for tokenization, scalability, & DeFi use cases. It’s most comparable to something like Stacks ($STX) and an alternative to the highly contentious BRC-token standard.
$STX is currently valued at a $1.2B fully diluted valuation.
$ML, Mintlayer’s token, is currently <$100M fully diluted.
With Bitcoin fees and on-chain tx volume skyrocketing, there may be increased demand for layer 2 solutions.
$ML, a newly launched token, has already seen some mild speculation due to the increase in Bitcoin activity:
We feel that $ML has asymmetric risk/reward potential while valued at less than 10% of $STX, its closest comparable, so long as the Bitcoin network is congested due to ordinals and BRC-20 tokens.
We believe $STX may see continued upside as well, though it’s a riskier entry now than when we originally called it at $0.28.
There may be additional upside if $ML gets listed on larger exchanges such as Binance.
Disclaimer: Sistine Research has a small position in $ML.