I think the price dropped a little drastic because market don’t like uncertainties. Chainrifts daily volume only represented a few percent of total daily volume and should not affect the price that much.
I see it similar to if someone mentions "Corona virus or “trade war” or other similar, then the stock market will react on the uncertainty even if nothing happened or changed. It could be seen as a irrational response.
One thing I think of could be a problem is if the irrational uncertainty transforms to a general uncertainty. But with the strong progress and near test network, it might not be a problem.
But the upcoming Fleming Network should boost the price so that funds will increase. A good move right now might be to keep calm for a few months. A higher price with test-network(Fleming) might give funds to reach larger exchanges and expand the work force and so on.
If above scenario doesn’t happen soon then we could look for alternatives.
You never know what happens. What everybody thinks is already priced in. Just look at Hashgraph when they released their much expected coin on the exchanges…it sank like a stone.
But to be honest, I am fine with how it is now. It think we will make it to the release with current exchanges. But if another exchange fails now, we have to do something.
Not exchanges. There is only one active MAID exchange—Bittrex, which continues to lose market share and trade volume because they have denied access to over 30 countries including the US. We must diversify exchange access.
As mentioned early, this is an opportunity for the community to raise funds for proper exchange listings and engage in effective marketing to support such. MaidSafe should partner to lend credibility and—more importantly—deliver Fleming in a timely manner. This I know they will of course strive to do.
Let’s see if we can reach Fleming in about 3 month or so and then price should increase to make funds larger which will open up to expansion of work force and reaching exchanges. Fleming might also help increasing the interest from exchanges.
If Fleming is not reached in 3 month then we evaluate the situation and see if something should be done. Until then we can look for DEX’es and see if there are any good alternatives. What should be done depends on how close we are to test-networks and (Fleming). The risk of loosing for example Bittrex or HitBTC seems relative low in coming 3 month. But if there are relative large exchanges that would list MAID without fees then we should probably approach them if possible, even if it is Bitfinex which might become one of the biggest cypto frauds the world has ever seen. I hate Bitfinex with all my heart but alternatives are few and our survival might be more important, even if Bitfinex goes up in flames 6 month or in a few years. I don’t know all large exchange options there are, Bitfinex was used as example because it was mentioned by @Krnelson
I see it similar to companies developing medical drugs, it is all about proof that the product works, until it passes tests price is low and on positive test results price explodes.
People are keep debating on which solution could be found to have a decent exchange supporting MAID trading. It seems that those decisions could spend another couple of months without anything is done… So @dirvine what is your (and your company) 's position on this topic! And do you plan to find a solution or you won’t do anything and it is up to the community to do what they want until Network’s launch? Thanks
There are much better options than Bitfinex, which just might end up being HitBTC round two for MAID. HitBTC is so terrible that I often forget it still exists and lists MAID. Plus, US users can’t leverage it. For perspective, there are ~90 exchanges with higher trade volume than Bittrex. Therefore, we shouldn’t put all our eggs in the Bittrex basket and we have several other options to investigate.
90 exchanges larger than Bittrex which could sell MAID to US customers? Bittrex is top 30 in the world if you look at normalised volume which excludes fake volume.
Please show those options, that would be great if there are options.
I did not find options when i looked at +20 high volume exchanges a few months ago.
Clearly, the list of top 100 exchanges by trade volume (I share the adjusted rather than reported trade volume view) is a global ranking agnostic of specific countries of operation until you dig into the information. The point is that there are several higher volume exchanges than Bittrex, which does not allow US residents to buy/trade MAID along with several other currencies.
Now, I believe the goal should be to get MAID listed to multiple high(er) volume exchanges. At least a subset of those exchanges should provide access to US consumers. Given the harsh regulatory climate in the US, I of course expect that not all of those exchanges will be open to the US market. That matters less than simply increasing MAID’s global liquidity and trade volume. If just one or two high volume exchanges active in the US market list MAID within the next few months, I’d call that a win.
Sorry but I don’t know which link you refer to. I checked for example Kraken’s criteria for listing a few month ago and it does not seem as they would accept MAID.
It does not seem that coinmarketcap adjust volume because, adjusted are the same as non adjusted. I would consider using coingecko to look for ranking by adjusted daily volume.
But if there are good options then let’s bring them to the table and show what is needed to apply, daily normalised volume and so on. It would be great with possibilities.
If remember correct Kraken contacts the projects they are interested in, so don’t think it is even possible to send them an application. One of the problem when I looked at options a few months ago was that many would not even accept applications.
