The GTN token has been listed on Stellar based exchanges and is putting up an impressive show. The trading price range of $0.16 to $0.22 might not seem much but, this needs to be seen in the right perspective. The crypto world is awash with various cryptocurrencies, probably close to 1,000. More than 80% of these are trading at prices that are half or even lower, than their ICO price. Against this backdrop, you have the GLITZKOIN GTN token with an ICO price of $0.20 and a trading price, that is very close to that.
Listing the GTN token on a host of crypto exchanges would not pose a technical challenge, however the economics of this process is something that is currently being studied. With many crypto exchanges taking a totally commercial angle for listing a token, promoters often require nothing beyond money to get their crypto tokens listed. The question that this raises is whether, projects would be fair to their ICO participants by, splurging funds on exchange listings.
The fundamental purpose of an ICO (Initial Currency Offering) is to attract funds to develop a project. The GLITZKOIN project is focused on improving efficiency, profitability and market scope for the 90 billion dollar diamond industry.
The project involves the development and implementation of a fully functional Diamond Exchange, nicknamed DiaEx. This section of the project requires significant investment, needless to say that, it is being completely financed by funds collected through the ICO. Once implemented, the exchange would allow participants to trade (diamonds) B2B or B2C from any point on the globe. There would be no middlemen and this means that, price would not be inflated with broker fees and middlemen commissions. Diamonds listed on the DiaEx platform, will require an authentication certificate. This to eliminate the possibility of fake diamonds being listed. The certificate will also provide an accurate and unbiased, record of the 4Cs for a specific stone.
Another high utility module that would be developed along with the Diamond Exchange is the, Diamond Price Estimator. Using advanced algorithms, the module estimates the market price of a diamond, this with an accuracy of +/- 15%. The price estimator draws price information and trends, from major diamond centers across the globe. The best thing about the GLITZKOIN diamond price estimator is that, it is available to everyone at no charge. Users of this advanced tool, are not obliged to trade on the DiaEx Diamond Exchange.
And as most of you would be aware, the GTN token will be the only mode of payment to be used on the exchange. Interestingly this move has been welcomed by the diamond community. Cumbersome banking procedures that add cost and result in delays, have been a constant obstacle in the development of international diamond trade. The challenge of working with multiple currencies and the logistics of conversion rates, adds its own complexity. By using the GLITZKOIN cryptocurrency to settle payments, the industry will no longer be dependent on the banking system. The issue of multiple currencies and conversion rates, will no longer hamper marketing efforts.
Back to the GTN token exchange listing, some important information regarding the ranking of the token as compared to other tokens listed on Stellar exchanges. The GLITZKOIN token has consistently ranked in the top 10 tokens – in terms of trading volume.
It is likely that the token would be listed on a few more exchanges in the coming months. Negotiations are in progress and the best deals will be evaluated, based on the benefits that they would bring to all GLITZKOIN stakeholders.
Unlike many promoters who implement a cryptocurrency as the sole highlight of their project, GLITZKOIN leads the new breed of industry specific blockchain projects. While listing on crypto exchanges does interest the crypto community, the cost of the listing needs to be within limits that, can be justified to participants from the diamond industry. It is a balancing act that, we will perform in the best interest of all participants.
So now with the GLITZKOIN GTN token listed on the exchange, what are the prospects of seeing an increase in price. In our opinion, a steady token price is better than a graph that is packed with violent ups and downs. Fortunately we now have a more mature crypto community that, looks beyond reckless speculation. Suffice it to say that, demand for the GTN crypto token would be generated from two healthy sources. While crypto space gurus would keep the token active on the exchanges, the diamond community would buy the tokens to settle payments for transactions made on the DiaEx platform. Given this very likely scenario, it is not difficult to guess in which direction the GTN token would head.