RE: BLURT did not just flash-crash to 0.0002 USD

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BLURT did not just flash-crash to 0.0002 USD

in crypto •  18 hours ago 

To avoid having to reply multiple times, let me summarize everything here:

First, let’s set the context. As mentioned by @mariuszkarowski, Probit is indeed the only exchange recognized by crypto aggregators like CoinMarketCap and Coingecko.

The daily trading volume on Probit is relatively low—just a few hundred dollars—so when someone wants to sell more than 720,000 BLURT (around $2,280 at the current price, which, let’s be honest, isn’t much for a cryptocurrency), they’re left with two options: be patient or dump their coins. In this case, our Blurtian chose to dump, unlike others who’ve liquidated their accounts (not just this month) without dumping.

image

It’s important to note that a dump like this doesn’t reflect someone aiming to profit from a price increase (otherwise, he would have smoothed out his sale like others have done). Instead, it shows a complete abandonment of the blockchain due to lack of interest.

For me, Probit remains a logical choice, despite its lack of liquidity, as I’m convinced its fees are lower than those on Hive-Engine, especially if converting to Hive or Steem isn’t the goal.

By analyzing transfers to Probit between November and December, here's what's relevant to share:

image

In summary, as long as we can’t increase trading volumes, grow the number of Blurtians powering up, or attract new buyers, the price of BLURT will remain easily manipulable with just a few dollars.

And yes, @drutter, I genuinely believe that holding over 1 million BLURT qualifies you as a whale. 🐋

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  ·  12 hours ago  ·  

Thanks for the extra info Nalexadre, great 'post'! : ))
I hear Agorise is thinking of ways to get us listed on more exchanges, which should help things.
-- mini-whale on a mini-blockchain (but growing)