CoinMarketCap Raises Glitzkoin GTN Crypto Rank

The crypto ranking of a specific crypto appears on top of the screen, when you query a crypto by name (eg. Glitzkoin GTN) on the CoinMarketCap.com crypto portal. There are some voices commenting about, CoinMarketCap’s ranking of the Glitzkoin GTN token. Addressing some related points in this report.

Have received messages and read some Twitter posts about, the CoinMarketCap rank of GTN. The token was apparently ranked, above 1,000 earlier this year (2021). Taking that comment as it is as, we have no verifiable data records on this numeric. Glitzkoin GTN currently (10 November 2021) ranks below 400. Crypto enthusiasts would be aware, that the smaller the rank number, the better the ranking.

Simply put, among the 10,000+ Altcoins listed on the CoinMarketCap crypto portal, Glitzkoin GTN at this point ranks among the top 500. This is quite an achievement for a smallcap cryptocurrency like GTN – more on that later in this report.

Will now shift focus to a couple of Tweets that the Glitzkoin team has come across. These tweets seem to suggest that CoinMarketCap is in some way, favoring GTN when it comes to assigning a crypto rank to it. This is confusing and misleading. While the algorithm used to rank cryptocurrencies by CoinMarketCap, seems very complicated – the possibility of influencing CoinMarketCap crypto rank decisions is impossible.

GTN is a smallcap crypto, just around 1 billion GTN in all. As verified by CoinMarketCap the circulating volume for Glitzkoin GTN, currently (10th November 2021) stands at 247,500,000 tokens. GTN is listed on about 10 crypto exchanges, 24 hour trade volume averages around $600,000. The current crypto rank of GTN on CoinMarketCap is about 340 – the lower this number the better the rank.

Crypto savvy readers have pointed out that, there are quite a few Altcoins (listed on CoinMarketCap) that, happen to be trading on more than 20 exchanges, have 24 hour trade volumes in excess of $5,000,000 and yet, rank way below Glitzkoin GTN. We have verified some of these claims to be true but, cannot make any comment on the issue. CoinMarketCap apparently weighs a number of factors to determine the rank of a crypto.

Most updates and upgrades on the leading crypto portal, seem to be focused on serving the best interest of crypto investors. This is something that should be welcomed by all crypto industry stakeholders. Listing a cryptocurrency on CoinMarketCap costs nothing as of today. The assumption that, any cryptocurrency could find a way to influence the ranking process is totally baseless.  

Track Glitzkoin GTN on CoinMarketCap

 

 

 

 

GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token.  The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.

The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token. 

The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform.  This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.

Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.

 

 

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Related Resources: [Project Updates] [Buy Glitzkoin GTN] [Glitzkoin YouTube]