I just learned about Mannabase and put together a summary of Mannabase outlining what it is, how to create an account, and how it all works. In the simplest sense, create an account and you'll get a deposit of crypto every week, which as of the time of my last post was about $0.42 USD for a brand new account.
I was pretty surprised to see about a 20% jump in the price! That now puts the value of the MANNA distributed last week for a new account at just over $0.50 USD or about $25 per year. Absolutely free. To literally anyone who signs up.
I was curious to learn more so I started to research and I learned that MANNA is traded on SouthXchange so I first looked at USD trades.
| Date/Time | Type | Amount MANNA | Amount USD | Price USD |
|---|---|---|---|---|
| 3/11/2018 11:05 | Buy | 2.747253 | $0.05 | $0.0182 |
| 3/10/2018 11:56 | Sell | 179 | $2.95 | $0.0165 |
| 3/10/2018 9:07 | Sell | 3380.981881 | $55.79 | $0.0165 |
| 3/9/2018 8:56 | Sell | 68.6899 | $0.93 | $0.0136 |
| 3/9/2018 8:47 | Sell | 68.6899 | $0.93 | $0.0136 |
| 3/9/2018 8:46 | Sell | 68.6899 | $0.93 | $0.0136 |
| 3/7/2018 20:32 | Buy | 113.2601 | $2.02 | $0.0178 |
| 3/7/2018 16:58 | Sell | 804.266572 | $12.47 | $0.0155 |
| 3/7/2018 16:56 | Buy | 983.93897 | $18.69 | $0.0190 |
As expected, when we're pushing fiat around the price is nowhere near the $0.0228 I'm seeing at Mannabase and the trades are somewhat irregular. Then I looked to the BTC trades.
| Date/Time | Type | Amount MANNA | Amount BTC | Price USD |
|---|---|---|---|---|
| 3/11/2018 11:35 | Sell | 2.606981 | 0.0000062 | $0.0229 |
| 3/11/2018 11:05 | Sell | 2.741758 | 0.00000653 | $0.0229 |
| 3/11/2018 6:25 | Buy | 1340 | 0.003417 | $0.0245 |
| 3/11/2018 3:29 | Buy | 25 | 0.00006475 | $0.0249 |
| 3/10/2018 21:04 | Sell | 2053.562189 | 0.00412766 | $0.0193 |
| 3/10/2018 21:04 | Sell | 780.61521 | 0.00157684 | $0.0194 |
| 3/10/2018 21:04 | Sell | 897.18462 | 0.00182128 | $0.0195 |
| 3/10/2018 18:41 | Buy | 1338.343042 | 0.00413548 | $0.0297 |
| 3/10/2018 18:41 | Buy | 466.72125 | 0.0014375 | $0.0296 |
| 3/10/2018 18:41 | Buy | 103.694898 | 0.00031938 | $0.0296 |
| 3/10/2018 18:41 | Buy | 1490 | 0.0041571 | $0.0268 |
| 3/10/2018 18:41 | Buy | 1442.4361 | 0.00400997 | $0.0267 |
| 3/10/2018 18:41 | Buy | 448.861672 | 0.00096505 | $0.0207 |
| 3/10/2018 18:41 | Buy | 448.86167 | 0.00096056 | $0.0206 |
| 3/10/2018 18:41 | Buy | 7286.672248 | 0.01442761 | $0.0190 |
Alright, that's what's pushing up the price. And it looks like it was just a few large trades, but with volume this low that's all it takes.
I was curious where the price has been so I was excited to find historical price data for MANNA that I used to chart the recent close price.
As expected, the recent rebranding and announcements in January have clearly been effective in bringing new people to the market as well as new sign ups to Mannabase.
The more I read about this the more convinced I become they are building this platform with a solid foundation with a view on the long term. I'm also becoming more convinced that it all begins now and the people signing up today will see the greatest long term value.
While some in developing countries can immediately take advantage of the cash flow available from these distributions, I think for much of the modernized world the idea is that you create an account today, save the password, and stumble upon it in 5 or 10 years and find a few hundred or maybe even thousand USD just sitting there.
It's free money, to everyone who signs up. So what are you waiting for?