The Glitzkoin GTN token ROI on the CoinMarketCap portal, looks more impressive as compared to 90% of the AltCoins launched in the past 2 years. Interestingly this seems to have disappointed a few critics who, claim that the CoinMarketCap calculation for GTN is flawed.
The fact is that the ROI (Return On Investment) calculation for any crypto on CoinMarketCap, follows just one formula. The price of the crypto at the time of launch is taken to be, the base price for the calculation. This in the case of GTN would be the ICO price of the token.
The Glitzkoin ICO successfully ran from March 2018 to June 2018. The GTN was priced in a range from $0.13 to $0.20. The $0.20 was fixed towards the end of the ICO process. ROI is calculated based on the current GTN price and the base price. This calculation is dynamically performed on the CoinMarketCap platform is not, extracted from any database provided by Glitzkoin.
It does not require any super mathematics to realize that, a lower base price would reveal a higher ROI number – at the same current price of the token. The GTN originated at $0.13 during the ICO and this, should ideally be the GTN base price for the CoinMarketCap calculation.
We have however disclosed the GTN ICO closing price ($0.20) as the base price. This does lower the ROI number a bit but, the Glitzkoin management thought that it was a more realistic figure. So you now know that, the GTN base price used to do the CoinMarketCap ROI calculation for GTN is not inflated or tampered in any way.
We might add here that the CoinMarketCap listing for the Glitzkoin GTN token, came almost a year after the ICO was completed. This was well after the base price number for the GTN token was decided. There was therefore no scope for Glitzkoin, CoinMarketCap or any other stakeholder, to meddle with the base price. This implies that the ROI calculation is correct and reliable.
Glitzkoin Business Development Manager Lila Ruziani, had this comment to make on the issue of GTN ROI, ‘… more than 80% of the cryptos launched around the time when the GTN was launched, today have an have an ROI that is -80% or less. In simple terms they have lost 80% to 90% of their ICO value. The fact that the Glitzkoin GTN token has an ROI, that is generally in the -7% to +20% range, displeases a few competitors and ill wishers. It is best to ignore them and keep moving ahead’.
Glitzkoin CEO Navneet Goenka feels that, ‘….while we are aware that there is no miscalculation, intentional or accidental, in the GTN ROI calculation on CoinMarketCap, we feel that we are obliged to clear such misconceptions and gossip. We remain focused on the project implementation and execution’.
GLITZKOIN: The project includes the multifaceted GTN token that currently trades actively on 3 crypto exchanges (Cointiger, Stellarport and Dobitrade). Glitzkoin makes a direct connect to the multibillion dollar diamond industry. The project is promoted by second generation diamond veteran Navneet Goenka, it aims to improve productivity and market scope for the glittering industry. A comprehensive diamond trading platform (DiaEx) is part of the project, it supports both B2B and B2C trade in diamonds. As mentioned above GTN is traded by crypto traders on three exchanges, it is also designated as the mode of payment on DiaEx.