CoinMarketCap Should Consider Price Stability In Crypto Ranking

Had many internal discussions within the Glitzkoin management team on this topic that – that the CoinMarketCap crypto ranking algorithm, should factor in the parameter related to price stability. The Glitzkoin GTN token has shown impressive resilience and managed to hold its price levels through, not one but three crypto market slumps. Having said that, this report is not restricted to the Glitzkoin token, it is relevant to all cryptocurrencies that, have maintained a rather stable price range.

There was a time when Bitcoin was everything to the crypto market, little other than BTC mattered. Things have changed now and crypto investors today, have a wider range of cryptocurrencies to choose from. Cryptos can be broadly grouped as low risk, medium risk and high risk. The same crypto could, move between different groups in different time frames. The returns are generally expected to be high in the case of medium to high risk tokens. Lower risk tokens would generally yield slower and relatively lower returns but, price volatility would be low.

There is no reason to believe that cryptocurrencies with low price volatility, have the highest investor following. In reality each group of cryptos, would have its own set of loyal investors. It would not be surprising if a single investor, holds a combination of cryptocurrencies belonging to more than one of the above groups. The ability to get an idea of the price stability of a crypto, would immensely benefit crypto investors. Not saying that investors should blindly follow CoinMarketCap rankings but, the rankings would provide basic information that, investors could then analyze and recheck.

This report would not be complete without making a mention about, crypto investor profiles. This is something that has dramatically changed over the past 2 to 3 years. We have moved from a time when, crypto investors were tech guys familiar with crypto and blockchain, to a scenario where investors come from all walks of life. This is a trend that makes it all the more necessary,, for CoinMarketCap to keep providing additional crypto ranking parameters.

Talking about including crypto price stability as a parameter, in the CoinMarketCap crypto ranking algorithm – figuring logistics is not going to be an easy task. The challenge is not something that CoinMarketCap cannot overcome. The benefit to investors would be immense – and this makes it worth the effort and time involved.

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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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