A short while after the announcement of the successful pilot run of the DiaEx diamond trading platform was made, crypto traders increased their GTN buying activity. The token rose from $0.20 to $0.28, this from 10 Nov 2019 to 17 Nov 2019. The Glitzkoin Telegram Channel was buzzing with talk about the run up to the year end.
Glitzkoin CEO and second generation diamond veteran Navneet Goenka, was quick to point out that price ups and downs are normal happenings. In his words, ‘… crypto traders thrive on speculation, fortunately the GTN token has never experienced extreme volatility. Price variations can happen for a number of reasons, it is important to review the situation in its entirety’.
The GTN token has experienced some very consistent buy sessions in the past 3 to 4 weeks. While this was responsible for the price of the token moving up from around $0.13 to $0.18, there have been no signs of an attempt to dump the token.
If you notice the price variation of the GTN in recent days, the price range within which the token varies is quite narrow. This represents the scenario where investors holding large volumes of the token are unwilling to sell their GTN. This could be because the GTN holders, have made up their mind about when to sell their tokens. A change could be triggered if the price of GTN moves up sufficiently enough, to convince investors to offload their tokens.
Summarizing the main issues related to crypto price variations, the basic fact is that crypto traders prefer speculative trading. Price variations of a token need to be analyzed based on the surrounding factors.
GLITZKOIN: Glitzkoin is developed on the Stellar blockchain. The project includes the multifaceted GTN token that currently trades actively on 3 crypto exchanges (Cointiger, Stellarport and Dobitrade). Glitzkoin makes a direct connect to the multibillion dollar diamond industry. The project is promoted by second generation diamond veteran Navneet Goenka, it aims to improve productivity and market scope for the glittering industry. A comprehensive diamond trading platform (DiaEx) is part of the project, it supports both B2B and B2C trade in diamonds. As mentioned above GTN is traded by crypto traders on three exchanges, it is also designated as the mode of payment on DiaEx.