The Glitzkoin ICO generated tremendous interest in the crypto community. The idea of an industry based blockchain and one that, was promoted by an industry veteran, struck a positive note with seasoned crypto space investors. The entire project centered around the development of a blockchain based, diamond trading platform - DiaEx. The $90 billion dollar diamond industry, has realized that the demand for the glittering stone has been stagnating for a few years. The idea of a trading platform that supports B2B and B2C trade has appealed to the diamond community.
The Glitzkoin ICO (Initial Currency Offering) got an overwhelming response and was successfully completed in June 2018. The GTN token price was offered at an attractive price ($0.15 to $0.20) during the ICO. Since the project was based on Stellar blockchain resources, the GTN token was listed on the Stellarport exchange in July 2018. More about how the crypto community, continues to support the project and the token, later in this report.
Despite the high level of participation in the Glitzkoin project during the ICO, there was a significant portion of interest that, did not translate into a GTN token purchase. It would not be wrong to presume that, a large portion of this group wished to review post ICO performance before, making a decision. This is not surprising considering the fact that, Glitzkoin happens to be the first industry specific blockchain project to be promoted by an industry insider. The project is focused on implementing a superior, diamond blockchain for the multibillion dollar diamond industry. The brainchild of second generation diamond veteran Navneet Goenka, Glitzkoin is poised to improve efficiency and market scope in the glittering industry.
Buying Glitzkoin GTN tokens after the ICO does, have its share of advantages. Remember that an ICO signals the start of a project, it is only after the ICO completion that the execution of the project plan begins. Buying crypto tokens after the ICO, allows the buyer to review the progress of the project before, making a buying decision. It is interesting to note that, more than 70% of the cryptos launched after June 2017, lost as much as 70% (or more) of their ICO value, within weeks of being trading.
We might mention here, that the Glitzkoin GTN token, was one of the very few cryptos to maintain a steady price, months after the ICO was completed. The token added a handsome 50% gain over its ICO price, this at a time when Bitcoin (BTC) lost as much as 70% of its value. It was also the time when, crypto market sentiment hit its lowest points in months.
Below is an in depth review of the GTN token, we also talk about the progress of the Glitzkoin project. None of this information is meant to be a marketing campaign. Review the information and use it to make an accurate evaluation of crypto options available in the market today.
GTN Token Review:
While the Glitzkoin GTN token has drawn significant crypto world interest, the token has a far greater role to play in the entire project. The DiaEx Diamond Exchange is designed to use the GTN token as the mode of payment. This obviously means that, the demand for the Glitzkoin token would come from two robust sources. Crypto world participants would find all the excitement on the crypto exchange and diamond traders, would buy the token to settle payments on the trading platform.
The GTN token had a price of $0.20 when the ICO closed in June 2018. Since the Glitzkoin project is based on the Stellar resource, the token was listed on Stellar exchanges in July 2018. Most cryptos launched during this period, experienced a drastic price drop – many of these lost as much as 50% to 70% of their ICO value. The GTN token has put up an impressive show against this gloomy background.
Continued support from the crypto world, allowed the Glitzkoin token to maintain a healthy price range of $0.18 to $0.22 from July to October 2018. Then came the moment which, the crypto community hoped would never come. November and December 2018, saw Bitcoin (BTC), shed as much as 70% of its value. The undisputed domination of BTC over crypto markets, resulted in a crash on a scale that has never been seen before. Crypto enthusiasts exiting the big dollar cryptos, were impressed by the resilience of GTN. The token recorded a surge in demand, this pushed the price of the Glitzkoin token to the $0.30 level. The price point ensured that, the token added an impressive 50% to its ICO value.
Glitzkoin Project Status:
The completion of the Glitzkoin ICO in June 2018, signaled the start of the development phase of the project. Two major components form the heart of the project:
1) The DPE or Diamond Price Estimator, allows anyone (open for all to use) to estimate the market price of a diamond. Critical 4C parameters related to a specific diamond are input into the application. Multiple algorithms, run these specifics against demand and supply indexes collected from global diamond markets. The output is a market price estimate that, has an accuracy of +/- 20%. The DPE application was completed and launched in September 2018. It is currently used by a large number of diamond buyers and sellers.
2) The DiaEx Diamond Exchange, facilitates B2B and B2C trade in diamonds. The features of the exchange are designed to eliminate major inefficiencies that, have plagued the industry for decades. Diamond traders of all sizes and located anywhere in the world, can operate directly on the DiaEx platform, this eliminates the need for brokers and middlemen. The Glitzkoin project, removes the possibility of trade in synthetic and fake diamonds by, limiting listings on the DiaEx to certified natural diamonds. The GTN token is the designated mode of payment on the diamond exchange. With the development and testing phase of the DiaEx application having been completed, the exchange is scheduled to be launched in the first quarter of 2019.
GTN is one of the few affordable tokens to have established an impeccable record. The crypto is backed by a robust project and makes a direct connect to the 90 billion dollar diamond industry.