The Glitzkoin GTN token experienced a bullish run from October 2021, this trend continued till mid December 2021 (as we publish this report). GTN prices surged from $0.20 to $2 within a matter of 10 weeks – a comfort level of around $1.50 was seen in mid December 2021. While Glitzkoin has never believed in loud media noise, Telegram and Twitter posts by crypto enthusiasts revealed a positive mood for GTN.
A number of factors could have collectively triggered this Glitzkoin GTN bull phase. The important point is that bulls remained active for more than 2 months. Crypto investors expected GTN to pick pace in 2022 but, this early price rise did attract much attention from the crypto community. Little doubt that 2021 has been a good year for Glitzkoin, this after we faced a number of challenges during the 2020 global health crisis.
To briefly roundup the positive developments for Glitzkoin and GTN in 2021, here is a quick recap. We started 2021 with the GTN token listed on just 2 crypto exchanges, the number of exchange listings has now crossed 10. The launch of the DiaEx diamond trading platform with, Glitzkoin GTN as the mode of payment, was preponed from 2022 to October 2021. While pleasing GTN investors, this move also increased GTN trading activity.
Technical work related to development and testing, for implementing the MyTicket-Glitzkoin partnership has now been completed. As the world seems to be better equipped to handle the ongoing pandemic, 2022 could see the launch of the partnership with leading online ticketing giant MyTicket.Asia. The partnership will enable visitors to the ticketing portal, to use the GTN token to pay for their purchases.
While talking about the positive sentiment for Glitzkoin GTN in 2021, mention must be made about the massive market slump during April – May 2021. Triggered by a big Bitcoin sell off by one major crypto investor, markets crashed across the board and affected almost every cryptocurrency. Glitzkoin braved the crash and went against the trend. Yahoo Finance singled out GTN as one of the 5 cryptocurrencies, to withstand the terrible crypto market crash.
Some important observations when trying to profile the Glitzkoin investor. While the investor base has widened and grown, there appear to be mix of professional crypto investors and investors from other sectors. That investors continue to have confidence in the project and the token, can be seen from the fact that GTN prices did not crash as they came down to settle at around $1.50. The general impression has been that, Glitzkoin would perform even better in 2022.
The Glitzkoin GTN selling that happened, as the token hit $2, seemed to have been triggered more by a time element than anything else. It has been a common practice among conventional stock and gold investors, to en-cash some or all of their investments towards the year end. While this could be better assessed in 2022 it does seem that, investors from other sectors have started investing in Glitzkoin GTN. Besides being a good sign for Glitzkoin, this is also a good happening for Altcoins in general.
As we post this report, the GTN token maintains an impressive 500% ROI, moving from $0.20 in January 2021 to over $1.50 in December 2021.
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.