The launching of the Glitzkoin GTN token on the LaToken exchange, has now turned the focus on future happenings lined up for the GTN token. The importance of getting a crypto tracked on the reputed CoinMarketCap portal, is known to most crypto enthusiasts.
No wonder then that one of the frequently asked questions, relates to GTN on CoinMarketCap. So when will Glitzkoin see its cryptocurrency tracked on CoinMarketCap. Before we get into details, let us briefly summarize the connection between GTN and CoinMarketCap.
Trading since July 2018 the GTN token, was listed on the CoinMarketCap portal, towards the end of that year. The time taken by CoinMarketCap to review, the Glitzkoin project and GTN token is totally understandable. Let’s not forget that, GTN was the first multifaceted cryptocurrency to be actively trading at that time.
It was in early 2019 that, CoinMarketCap completed the verification process to arrive at, the volume of GTN tokens circulating in the markets. Crypto analysts and seasoned investors, relied on CoinMarketCap data to evaluate the Glitzkoin GTN token.
DobiTrade happened to be one of the exchanges that, handled a significant trade volume for GTN. Diamond traders who helped with the pilot run, of the Diaex diamond trading platform, also seemed to prefer this crypto exchange for their transactions.
It was in April 2020 when the COVID-19 pandemic was at its peak that, the Chinese authorities ordered the closure of the DobiTrade exchange. This severely slowed down GTN trade. Business closures, lockdowns and travel restrictions, made the process of scouting new exchanges extremely challenging.
CoinMarketCap which was tracking the GTN token until then, requested that additional exchange listings be done for the token. It was at this point that the portal paused, GTN tracking.
The easing of the health crisis in 2021, allowed the Glitzkoin team to finalize a deal with LaToken. The GTN token started trading on LaToken on 14 April 2021. While more exchange listings are lined up for 2021, the LaToken listing should satisfy the requirement of CoinMarketCap.
It is quite normal for CoinMarketCap and other reputed portals, to review a cryptocurrency for a month or two before re-tracking it. Given this scenario, we expect the Glitzkoin GTN token to be tracked on both CoinMarketCap and CoinGecko, within the second quarter of 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.
Related Resources: [Project Updates]