XDN DigitalNote CO Final Hours
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.