For some unexplained reason, crypto analysts continue to make a comparison between, the Stellar XLM token and the Glitzkoin GTN token. There was a point of time around July 2018 when the GTN token, was traded on just one crypto exchange. It is today traded on 3 reputed crypto exchanges.
The GTN token was first traded on the Stellarport exchange, this was in July 2018. Since Stellarport focuses on Stellar based blockchain projects, the trade denomination is the Stellar XLM token.
Trading GTN on Stellarport limited the pairings to GTN/XLM. Things have changed now and GTN today trades on Dobitrade (GTN/BTC, GTN/ETH, GTN/USDT), Cointiger (GTN/BTC, GTN/USDT) and Stellarport (GTN/XLM).
Crypto enthusiasts have continued to support, the Glitzkoin project and token right from the ICO phase. They had seen the XLM at $0.30 and the GTN at $0.20 around July 2018. What this meant is that, 1 XLM could get you 1.5 GTN. Trade in GTN increased and this in turn generated demand for the XLM token.
Glitzkoin had marked 2019 as the year to increase exchange listings for the GTN token. Increased exchange listings would also provide additional pairings for the token.
We saw the GTN listed on Dobitrade and then on Cointiger in 2019. Trading activity spiked as crypto traders, now had additional pairings to choose from. Traders made a shift from Stellarport and preferred to trade on the other 2 exchanges.
The drop in XLM demand that was thus far, being generated by GTN purchases, weakened the XLM price. Jump to July 2019 and the XLM trades at just $0.10. With GTN trading at $0.25, you can now get 2.5 XLM for the price of a single GTN token.
Glitzkoin CEO and diamond veteran Navneet Goenka had this to say, ‘… at a glance it appears as if, the GTN token turned tables on the XLM token. But the fact is that, the GTN token was launched within the framework of a very sturdy project plan. Stellar seemed to have launched the XLM token, with little planning. It was much like taking a shot in the dark.’
So while the talk linking XLM and GTN continues, the fact is that GTN has come a long way and continues to be supported by the crypto community. XLM on the other hand, does not seem to have any specific plan that would improve its value.