Hi, @jayplayco here.
July 2019 is now almost gone and we are looking forward for the pre-launch of Reviewhunt.
I am now over a year following the path of the team behind the HUNT economy and if you have no idea what it is, I would like to recommend to have a look into the following document.
As an elected community manager for HUNT, I am managing a lot of direct communication from the community and also directly from investors. One specific voice, which is coming up quite often is about the direct price of the HUNT token, which is directly influenced from the driving behind the team and to be very open about it, the investors are in the moment not really happy how the price development was for HUNT in the past month.
1. Background about a cryptocurrency listing
Before we can talk about how a price of a token is developing, we need to understand how a typical listing of an exchange works.
- Get in contact with an exchange
- Negotiate the listing cost
- Non official - Install a MM (Market Maker) and/or LP (Liquid provider)
The last part is really interesting, as it means that somebody is going to control the market. A Market Maker (or Liquid provider) can unofficially act on your part or as separate interest party. The first goal is provide enough liquidity on the market but most projects are mainly using it to keep either a price stable or pump it into a specific direction.
Anything of this on a regulated market or as an example for stocks would not be really legal. It is also one of the reasons that bigger investment money will still need some time to find their way to crypto-currency trading, as they are probably asking for a more regulated and therefore secure way to handle bigger amounts of money.
Just a few days ago, there was an interesting article on www.coindesk.com about Gotbit, a Russian student project under the radar that offers a bot service to fake volume on exchanges. Theoretically, these bots are also able to drive the price in a specific direction. Source: coindesk Article For 6,000USD per month, you can fake your trading volume while imitating normal market activities and therefore calm your investors.
2. The cryptocurrency industry
The core philosophy of the Hunt team is a traditional startup. The team believes that true value for hunters, users and customers is behind a great product that brings the value to each group. From the beginning a pump and dumb just of a coin was never in the strategy of the Hunt team.
We can see it from the single action that the team launched the HUNT token after a full year of running a successful community based on Steemhunt. If you compare it with a lot of other blockchain based projects, were the funding starts with a whitepaper and the product is in most cases not delivered.
So the team went with an exchange that had a similar thinking, called Daybit. The exchange Daybit was and is famous for NOT using any industry typical methods to drive a project or token. As we have still on some markets no regulation, it could be arguable if "Fake it until you make it" is more important to survive, but that is written on another book. Anyhow, due to a failed own DAY token strategy and "real" trading volume, the exchange is now changing and trying to escape the low point during the existence of Daybit.
It was maybe strategically not the best choice in short-term for the HUNT token economy to list it first at Daybit, but my personal view for long-term is that it would not matter, as the startup behind the HUNT economy will need anyhow more time to launch Reviewhunt and Ideahunt to finalize the whole token economy.
3. The next steps
As I know the team is now in heavy crunch mode and burning their last hours into the code for Reviewhunt. The alpha launch is going to be in a few days and we will finally see the first effects that Reviewhunt will have for the HUNT economy.
To understand the current situation and token economy.
- If a company books on Reviewhunt, they will pay with FIAT and Reviewhunt will buy with that FIAT HUNT tokens from the market (not issuing it), which is in the moment Daybit alone.
- There are only 4.17 BTC worth on the market for a BTC price for up to 0.000004 BTC per Hunt.
- In total there are about 15.6BTC worth of HUNT tokens available on the market.
- There are 171 companies pre-signed with a monthly budget of about 700K USD.
- ...
This article is no investment advice and the Content is for informational purposes only.
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