Something very interesting happened between November and December 2021. Both Bitcoin and Glitzkoin experienced a price surge, this was followed by a price drop – once again for both these cryptocurrencies. While crypto media widely publicized the Bitcoin price rise, Glitzkoin did not indulge in any fancy publicity.
Should mention that the above bull run, pushed both Bitcoin and Glitzkoin to their highest ever price levels. Interestingly both cryptocurrencies, started moving downward at around the same time. The above time frame saw Bitcoin appreciate by around 100% while Glitzkoin, rose by around 400%.
In the final analysis, many Bitcoin sellers booked profits in the 20% to 40% range. A large number of Glitzkoin sellers realized profits in the 100% to 150% range. While we all realize that crypto trade is speculative, Bitcoin investors had reason to be a bit disappointed. Investors were also put off by the fact that, the huge media noise, that applauded the Bitcoin bull run could not, put BTC ahead of Glitzkoin in terms of ROI.
Glitzkoin has repeatedly mentioned that, Bitcoin relies heavily on paid in media publicity. This in a way increases investor expectations and when, reality cannot deliver those expectations – investors feel that they have been let down. Glitzkoin on the other hand, prefers to go low on media noise – the idea being to let things move organically.
In a broader sense, the comparison is really not between Bitcoin and Glitzkoin – there is a much wider scope that includes hundreds of Altcoins. We predict that the Top 500 Altcoins will in 2022, significantly reduce Bitcoin dominance in crypto markets.
The above information is not meant to prove, that Glitzkoin is ‘better’ than Bitcoin or any other cryptocurrency. But it does prove that ROI should be an important parameter when, evaluating investor benefits. At the end of the day, ROI is likely to determine investor satisfaction.
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.