In the world that is rapidly moving toward electric vehicles, one big problem is their price. When it comes to developing countries such as Sri Lanka, Thailand, and many others in this and different parts of the world, cars — regular or electric — are simply too expensive. This is why the locals in such countries started using Tuk Tuks, as a mix between motorcycles and cars, which doesn’t take up a lot of room, it doesn’t cost much, and is just more practical than a small motorcycle.
The problem with Tuk Tuks, however, is that they are responsible for massive carbon emissions and spend quite generous amounts of fuel. This is where eTukTuk (TUK) comes in — a blockchain-based project located in Sri Lanka that intends to offer electrical Tuk Tuks based on blockchain technology.
This guide will discuss the project and its token, TUK, and consider whether it is worth investing in it right now. Also find the whitepaper at the official site below.
eTukTuk Price Now
At the time of writing, the eTukTuk price is $0.024, and will soon move up to $0.028. The project is currently in its presale stage, and its price is scheduled to increase as the presale progresses.
That means the token is still not in circulation, and you won’t find it on the open market just yet. However, this will change soon, so anyone interested in joining the project’s presale, and the project itself, should react quickly.
Where Can I Buy eTukTuk in October 2024
As of late 2023, eTukTuk is available on its own platform, which features a presale page. The platform allows you to buy TUK tokens at a price of $0.024 per TUK at the time of writing. So far, the project has sold 775,046 TUK tokens, raising around $18,630 so far.
Moving forward, and after the presale ends, the token will become available on numerous exchanges, but since it runs on the Binance Smart Chain (BSC), it may first be listed on PancakeSwap.
See our full guide on how to buy eTukTuk token.
eTukTuk Price History
Given that eTukTuk is still in presale and was not yet exposed to the volatility of the crypto market, there is currently no price history to discuss. Of course, this will change once the token enters circulation and users start trading it, investing in it, exchanging it, and alike.
How is the Price of eTukTuk Token Determined
eTukTuk’s price during presale was determined by the project developers. However, once it enters circulation, it will be out of their control and affected by a number of outside factors, just like other cryptos. That will include the following:
Supply and Demand
Supply and demand are the strongest factors that affect the price. All other factors eventually lead to these two, affecting them in one way or another.
Supply simply represents the amount of the available asset of value — in this case, TUK tokens. Demand, on the other hand, represents how much people want it. As the demand grows, the price of the tokens should grow, assuming that the supply remains the same. If the supply grows, but the demand stagnates, the price of the tokens will drop.
If both grow or drop at the same time, the price should, in theory, remain the same. However, the worst case is when the supply grows, but the demand drops. This tends to lead to strong price drops, and it is often witnessed during strong bear markets and crypto winters.
Social Media
Another big factor is social media. However, it should be noted that social media representation affects some cryptocurrencies more than others. Cryptos with real utilities tend to be less affected by this factor, while coins and tokens like meme coins tend to be more affected.
This comes from the fact that meme coins are based on popularity, so the more they are referenced on social platforms, the more people buy them, increasing the demand.
TUK, however, is not a meme coin, so the social media impact will be limited. Still, it might have a certain impact, especially in the token’s early days, when people are still learning about its existence. So far some prominent YouTubers have posted reviews of the project and their own eTukTuk price prediction forecasts, including the video below.
Volume
Volume is a more universal factor than social media, but it will only affect tokens among those who pay attention to volume changes.
First things first — volume is a metric that shows how many tokens have exchanged hands in a certain period, typically 24 hours.
For those who monitor volume, this can be a big and important metric that indicates that something is happening to the token.
As volume surges, it means that more people are buying and selling, which immediately alerts traders and investors about the token’s increased activity.
If there is strong demand, they will start buying as they expect the price to start growing very soon. In joining the buying trend, they also contribute to increasing demand, which then does help with price growth.
Broader Crypto Market Sentiment
Broader crypto market sentiment is likely one of the strongest factors that influence all cryptocurrencies. It is typically caused by major positive or negative events, which shape the way users feel about the token.
So, for example, major exchange listings, partnerships, development, positive events, support from celebrities, and similar things all contribute to positive market sentiment.
On the other hand, negative sentiment can be produced by lawsuits, news of hacking attacks, network issues, and alike. In these situations, token users will likely sell their tokens and look for better alternatives.
Being a new project, sentiment for eTukTuk is high, and the wider crypto market is showing signs of strength following the news of BlackRock and other institutions applying for Bitcoin ETFs.
Utility and Development
Finally, we have utility and development. Crypto users love projects with plenty of use cases, especially if they are strong and something that will last for a long time.
Apart from that, they also love seeing new developments regarding any project, as this shows activity, indicating that the project is not dead.
It shows that developers are active, creating new features, fixing issues, and contributing to improving the project.
Once they see that, they tend to invest in it, as it becomes apparent that the project is growing and developing, which could positively impact its price. But, by buying, they contribute to increased demand and volume, which encourages others to buy as well.
Stay up to date with the eTukTuk crypto project’s progress by following its official Twitter which regularly posts sneak peeks of its prototypes.
Here's a sneak peek at the future of urban mobility!
Our eTukTuk prototype is here to revolutionise the way we move, creating cleaner, greener, and more efficient smart cities. 🌳
Stay tuned for more 👀#ElectricVehicles #GreenEnergy pic.twitter.com/MsHnXShKFk
— eTukTuk (@eTukTukio) April 10, 2023
How Often Does the Price of eTukTuk Change
Since eTukTuk will not be a stablecoin, its price will be subject to market volatility, meaning that all of the previously described factors and many other smaller ones will be affecting its price constantly.
As such, it will have a constantly-changing price that never sits still. This is one of the definite aspects of the crypto market, which is open 24/7, even during the weekends, holidays, at night, and alike.
However, it is also a risk, as something might happen to affect the token positively or negatively while you sleep or work, and the price will react without you there to take the opportunity or quickly exit the market.
This is why you need to be aware of the risks as much as you are of the benefits regarding crypto investments.
Investing in eTukTuk
Right now, you can invest in eTukTuk by purchasing it from its presale page, as mentioned earlier. However, once the token finishes its presale and goes into circulation, you will have to learn where it is listed and then register on the exchange where it is available.
Again, since it is a BSC-based crypto, it could potentially be listed on Binance or the DEXes running on its network.
However, if there is enough demand, it will likely find its way to many other crypto exchanges soon enough.
Typically, major exchanges list coins and tokens only if they determine that there is strong enough demand, so where it will appear depends on the token’s performance post-launch.
Is it Worth Buying eTukTuk
The big question is: is it worth buying eTukTuk? Of course, this is something that each investor needs to decide for themselves.
For context, the world is making an effort to adopt eco-friendly solutions in order to protect the environment, both for the environment’s sake and for climate change concerns.
Electric Vehicles (EVs) are the best solution to eliminate the carbon footprint of vehicles that mostly still run on fossil fuels.
In developing countries where Tuk Tuks are quite popular and convenient, electric cars like Tesla are both too expensive and too big, while eTukTuks would represent a perfect alternative.
With eTukTuks closely tied to the TUK cryptocurrency, buying them now could end up being profitable, assuming that they will become a preferable alternative to regular Tuk Tuks.
With that in mind, it is worth buying TUK tokens now. However, once again, this should not be taken as financial advice, and we recommend that each potential investor familiarizes themself with the matter personally and then make their own decision.
Who Should Invest In eTukTuk
eTukTuk is a project that anyone can benefit from, regardless of whether you intend to buy an EV version of Tuk Tuk or not.
If yes, then buying TUK might allow you to purchase an eTukTuk with crypto someday. It is still unclear whether the project will allow users to buy it with fiat or will it only accept crypto payments.
Alternatively, you can also purchase TUK as an investment.
The project might even allow staking or other types of benefits in time, and no one can tell what might happen with its price moving forward. If eTukTuks see massive amounts of adoption, then it is likely that the token’s price might reflect that.
Investing In eTukTuk Token Responsibly
Buying eTukTuk tokens is very simple and will not change once the token hits crypto exchanges. However, you should remember that investing in the token responsibly is just as important. Here are some tips on what to keep in mind:
- Do as much research into the project, its whitepaper, team, and other aspects before you buy.
- Make sure that TUK is not the only investment that you will make. In other words, you should diversify your portfolio
- Make sure that you know why you are buying the token, what you hope to gain, and that you are aware of the risks, such as the price of the token behaving differently from what you expect.
- Identify the best place to buy TUK tokens (after the presale is complete)
- Once you have them in your possession, make sure to withdraw your TUK tokens to a private wallet, where only you would hold private keys, and no one could use them without your consent.
- Use a VPN to encrypt your connection while buying and storing tokens, just in case someone is monitoring your traffic.
- Keep an eye on discussions among experts regarding the token, but don’t follow their advice blindly. Use their thoughts to educate yourself, not as instructions on what to do. Experts tend to know more than average users, but they too can make mistakes.
eTukTuk Taxation
As the crypto industry grew and expanded across the world, most governments started introducing crypto taxation laws.
This is likely the case in your country, regardless of where you live, since most countries now have laws that obligate their people to pay taxes on profits made from crypto trading.
If you profit from TUK in any way, you will also have to pay tax on those profits. However, each country has different laws regarding taxation, so you should first do your research about that and educate yourself on your nation’s specific rules. In some countries, taxes can go quite high, even above 50% of the profits.
With that in mind, you should make sure that you know what you are getting yourself into before you end up owing the money to your government.
Conclusion
eTukTuk (TUK) is a new and interesting crypto project that aims to help developing countries eliminate their carbon emissions coming from the most popular vehicles — Tuk Tuks.
The project is trying to make a massive change in the world by offering electric versions of popular vehicles tied to blockchain technology. It seeks to make eTukTuks affordable, cheaper to use, and reduce the negative impact on our atmosphere.
Its token, TUK, is at the center of the project’s ecosystem, and its token sale right now offers an opportunity to purchase the tokens at a very low price before they even appear on the market.
FAQ
Where to buy eTukTuk tokens?
eTukTuk tokens can be bought on the project’s presale page, but only during the duration of the presale. After that, it will likely be listed on a number of crypto exchanges.
What is eTukTuk ?
eTukTuk is a project that intends to help provide sustainable transportation for everyone. It offers electric vehicles in the form of tuk tuks, rather than full electric cars.
Is eTukTuk dead?
Not at all — on the contrary, it is just emerging. The project’s presale has just started, as of late 2023.
How many eTukTuk tokens are there?
There will only ever be 2 billion TUK tokens in existence. The project will not create more moving forward, so it will have a max supply and a cap.
Is eTukTuk legit?
From everything we have seen about eTukTuk, the project does look legitimate. It has a well-developed white paper, an original idea, and a working product that it has already demonstrated, meaning its EV version of tuk tuks.
