Bitcoin is known to make abrupt price rises and falls, how will this affect the Glitzkoin project and the GTN token. We let you how the Glitzkoin diamond blockchain project, effectively insulates itself from the vagaries of BTC and the crypto markets.
Up and down and up and down, no explanation and scarce logic – that has become a fashion with the price of Bitcoin. While Glitzkoin does agree that the mood of crypto markets is largely determined by the performance of BTC, we do feel that this is a sorry state of affairs. It is almost like allowing a spoiled brat to run a business conglomerate.
With a focus on making an impact on the real world economy, Glitzkoin is here for the long haul – no hurry and no hyper marketing campaigns. So will the rise and fall of Bitcoin, affect the performance of the Glitzkoin project or the GTN token.
Before we get into the Bitcoin effect, let’s just tell you very briefly about the Glitzkoin project and GTN token. The Glitzkoin diamond blockchain project is promoted by second generation diamond veteran Navneet Goenka. It is focused on improving, productivity and market scope for the multibillion dollar diamond industry.
The project includes a comprehensive diamond trading platform DiaEx where, diamond traders of all sizes and irrespective of their geographic location, can trade directly – no middlemen and no multilevel profit margins. The GTN token is the designated mode of payment on DiaEx.
Now back to Bitcoin prices and the crypto market. The Glitzkoin GTN token does trade on multiple crypto exchanges (eg. Dobitrade, Cointiger and Stellarport). It has been actively supported by seasoned crypto traders. This explains why the GTN token has doubled its value to $0.40, when compared to its ICO closing price of $0.20 (June 2018). While the token will be affected by market sentiments, it does not rely solely on crypto enthusiasts for its demand.
At Glitzkoin we recognize the importance of two major stakeholders, the crypto world and the diamond industry. The GTN token is supported by three sources of demand, the activity from crypto traders is just one of them. Diamond traders operating on the DiaEx platform, will also acquire GTN tokens to fulfill their payment obligations. This creates an additional stream of demand for the token.
The third source of token demand is indeed very unique. Negotiations are underway with a wide range of business houses, the objective being to have them accept the Glitzkoin GTN token as a mode of payment in their business operations. The first pilot test run for this effort will begin soon. Visitors to the online ticketing portal Myticket.asia, could soon use the GTN token to make payment for their purchases. Glitzkoin is now designated as the official payment partner for the online ticketing giant.
To summarize the above information, the best way to insulate (at least partially) a crypto from the vagaries of Bitcoin and crypto market sentiments, is to support it with multiple sources of demand. This of course will boost crypto world confidence in the token – any additional demand generated for a crypto, would deliver a positive impact on its price. No doubt that, projects connected to the real world economy, can handle this better.