XDN DigitalNote Suffers
By in
XDN DigitalNote ICCO Campaign started on June 2, 2017 just a over a week ago with a significant rise from 70 tag to 300. There has been so much going on in terms of trading volume that reach ed top of the trading table on HitBTC, overtaking a number of major currency such as ETH, ZEC, XMR and XEM.
The organic growth achieved by the digital currency considering the short period of time was huge. And now XDN started to experience a significant decline reaching as low as 220 tag and people started to be concerned.
So Why is XDN DigitalNote Suffering?
We believe that there are a number of factors that cased the market to react negatively. Since the community members voted to determine the CO price to start at 600. We believe this is not the only reason for XDN to suffer.
The misleading information did play a major role in building that up for the past week. With a significant rise from 70 to above 300, XDN has captured a huge interest in the Cryptocurrency market. That would continue to raise only if the information about ICCO prices was accurate enough when XDN achieved this growth, as ICCO prices were decided to go on sale at 156, buyers decided to wait to buy from the ICCO rather than the market price that was well above 300.
What Should We Learn?
As far as this goes, the misleading information on the official DigitalNote website regarding the ICCO prices confused the buyers since they decided to wait for the CO window to start and buy the digital currency at 156 (50% OFF the market price at least). They were not aware of the prices being outdated on the website, and the community is going to vote in order to determine the price that should be above the market price. That being said, the misleading information worked against the digital currency growth and then the announcement comes out as the CO window will sell it at 600, that was at least 2.5 times the market price.
The lesson for the community to learn is to avoid keeping outdated information out there to avoid confusion. The community needs to be proactive in terms of keeping the audience up to date with all the changes happening as fast as possible. The delayed decision about determining the ICCO new price and all that information not being publicly available pushed DigitalNote to suffer. Hence, we are expecting the community to work things out again and help the digital currency heal in re-establishing its value without putting so much pressure whether it is possible for it to hit the ICCO price or not.
But the misleading info wasn’t given by the devs who hasn’t updated the website?
Unfortunately the official ICCO web page is only controlled by the devs.
Hmm yeah I don’t know if it was necessarily “misleading” but the terms just changed and I bet not everybody knew that who wasn’t watching carefully. There was, however, a community vote for terms so take it as you will…I personally kinda wish there was no ICCO so we could grow naturally or maybe the original ICCO price but that’s just me. We’ll be fine but it could have been done better.
Also there was another key altcoin community keeping the price down. Certain people do not want to see this coin for what its potential really is beacause when it is seen they will lose marketcap.
Thanks for your inputs. The crypto market remains very competitive indeed but XDN is still above the 200 tag. If the currency is not competitive enough then it should have had hit the ground floor back to where it was around 70 or even below.
Yes there are definitely jealous haters of this coin…it will be funny when I smack them with my wad of cash.
It is necessary to inform the users the payment process in detail since nobody knows for sure when they will pay if at the end of each week or at the end of the 5 weeks
Thanks for these inputs. I agree with you as the information regarding payments have only been discussed with the community members rather than making it publicly available.
As far as we know, payments are made once the campaign is completed. That is either by the end of its period of in case all coins get sold before that. The unsold coins will be returned to the participants at the end of the campaign.
Hope that helps.
Rough day today, but you can’t win ’em all! Hey I like the XDN ticker on the side, very nice.