XDN DigitalNote CO Final Hours
By in
The uncertainty continues in the final hours of XDN CO, which should be concluded at 13:00 UTC on Friday 30 June 2017. XDN is being traded between 105 and 114 in the last 24 Hours on Bittrex with a total volume of 34 BTC and 314 BTC on HitBTC.
DigitalNote community members are still hoping for some announcements from XDN developers in regards to post CO and give a reflection on the result of the campaign, which started the IC stage for coin collection on 02 June 2017, and CO on 09 June 2017.
According to the original XDN ICCO plan, the price was supposed to start at 156 per XDN in the first week, which was more than the market price at the time of the ICCO announcement. Instead, a price voting conducted to determine the new price list for the campaign after XDN surged as high as 350. Hence, the voting determined the price 600, 700, and 800. However, XDNCO was able to record 9 sales only in the first week, making 5.4 BTC in total. The campaign failed to make any further sales in the second and final week.
However, there are still arguments about the voting being the main reason for failure as some of the community members believe that the pricing was greedy, but some of us agree on the fact that a huge confusion happened in regards to pricing, as well as that being undertaken in the last minute before the CO started.
The digital currency is facing the risk of increased supply, as 20% of the locked coins to re-enter the market are sufficient to push the price well below 100 because that will increase the supply up to 100%. So we can imagine what could happen if more than 20% of those coins become available in the market.
XDN DigitalNote Future
Despite the short-term risk, XDN released the Android wallet shortly after the ICCO announcement and still working on the iOS version. In addition to that, there is the Mobile Messenger 3.0 that should be released in Q4 this year, with the database blockchain storage and ecommerce payment solutions expected in August – September this year. So in the long-term, XDN looks promising and should recover really well after these developments become ready to use.
期待しています
Excellent article, and in my opinion. Should never have a vote, developers should put targets values. Or you are updating daily values of co with respect to ic. I believe you would put more confidence into a good coin.
I’m waiting for the liberation of the coin ^^
There is going to be another ICCO later this year and the team need to address all the mistakes and avoid them. With respect to HitBTC, XDN is better off with developing its own ICCO payment channel and make sure they do not publish information and change it in the last minute since investors will consider everything beforehand, so changing it later on is like breaking the deal that was put in the first place.
Hi expresso, I’m here again, would you please explain me what you called locked coins?
“…The digital currency is facing the risk of increased supply, as 20% of the locked coins to re-enter the market are sufficient to push the price well below 100 because that will increase the supply up to 100%. So we can imagine what could happen if more than 20% of those coins become available in the market.”
Thanks.
Have a nice day.
These are the coins in XDNCO, which are subject to release next week. If we get 20% of these coins in the market that will increase the supply up to 100% (with 250 million coins), which is probably going to push the price even lower than it is now. More than 20% would deepen the loss, so depends on how much will return to the market really.
Thanks Expresso.
Whish you all the best.