$ILV is on a Massive Tear, Breaks Above $100

What a run we have seen from the Illuvium Token over the last three days. The token is now over $100 for the first time since August 19th. We have seen $ILV climb 7%, 16% and 25% respectively the past three days and I am starting to notice crypto speculators joining in on the action. The token is taking on a life outside of the Illuvium community. We have accounts like Alex Becker with 850k followers tweeting about $ILV:

UPDATE: Tweet was deleted so here is a screenshot

Another catalyst may have been Crypto Banter making not one, but two videos about Illuvium. The first was an interview with Kieran yesterday and the second was a call on $ILV to jump, which turned out to be spot on. Here is the Kieran interview:

This type of price action can be short lived as crypto speculators often pump and dump, however, I am holding out hope that many will actually research Illuvium and like what they see. If the surge in price can bring in new Illuvium fans just before the Illuvitars launch then we could see some much needed revenue at a critical point. The trading volume over the last 24 hours has been massive:

Kieran recently stated that we have roughly 11 months of runway. The initial Illuvitar sale is the answer as the council has voted to use first sale proceeds to create a new emergency fund for the project. Maybe we will see some of the $ILV speculators cross over and buy Illuvitars as well. We are also seeing a fully diluted market cap back above $1 billion.

$ILV market cap increase over 24 hours. — It’s worth noting that the Market Cap figure is incorrect on Coin Market Cap. It shows 21% of supply out, but in reality almost 50% of supply is out. Therefore, real Market Cap is closer to $500M.

In any case the token has jumped from a low of $66.36 to a high of $107.63 in just 3 days. That is a 62% increase. What a way to kick off February. The Illuvium tokens low for the year so far is $37.62. This run may continue for a bit, but we do have token unlocks starting up again in March after a brief pause from the SILV incident one year ago. This will effect supply and may drag the price down as quickly as it has gone up here. Most diehard community members are staking their tokens anyway and may not be able to take profits in this run. This may be more fun for the speculators than anything else, but my hope is some of them stick around to help grow this community.

Either way it is good to see some life in the token after the bear market crash. The sentiment seems to be shifting as the team continues to not only deliver, but exceed expectations. Illuvium Zero has been a huge success and more popular than anticipated. The Overworld continues to amaze and Illuvitars are imminent. 2023 is going to be an exciting year for Illuvium and we are coming out of the gates hot with this pop in $ILV.

Thank You

As always, thank you for reading my article! You can follow me on Twitter (@Rhamphy) to keep up with the latest Illuvium news, leaks and more. Still no access to the Overworld? Send me a DM on Twitter!

Everything I write is purely my opinion and should not be taken as financial advice.