Is It Significant That DogeCoin Trails Glitzkoin (April 2022)?

It is a fact that hundreds of cryptocurrencies, trade at prices that are lower than that of Glitzkoin. It is also true that hundreds of cryptocurrencies would be trading at prices that, are much higher than that of Glitzkoin. We generally do not comment on price trends but make an exception when it comes DogeCoin. Crypto enthusiasts have for some reason, projected Doge and Glitzkoin GTN as being fierce competitors!

As of mid-April 2022 DogeCoin traded at around $0.15 and Glitzkoin at $0.21. The difference is really not much but what surprises us is that, DogeCoin could not do better even when, a number factors had gone in its favor. Besides being strongly supported by Elon Musk, one of the richest men on the planet, DogeCoin also has a gang of paid price pumpers. Crypto media writers, sought to spread the word that, DogeCoin was likely to focus on crypto payments. As news of Elon Musk’s connection with Twitter spread, crypto analysts tried to present it as, something that would benefit DogeCoin. Everything was supposedly going right for Doge!

And despite all that goodness, DogeCoin could muster up a rather mediocre price level of around $0.15. So what exactly went wrong here? Had investors started losing faith in Doge?

Without making any ‘better than’ comparison with Dogecoin, here are some facts about Glitzkoin. While DogeCoin was launched in the year  2013, Glitzkoin GTN started trading in 2018. You will not find a billionaire or high profile personality, openly cheering Glitzkoin GTN! That is fine because we remain committed to develop the project and the token organically. Nothing that we are planning or doing at this point is influenced by, the price or potential of DogeCoin. Even a casual look at crypto media would show that, Glitzkoin does not resort to high pitched marketing campaigns.

So looking at the profiles of DogeCoin and Glitzkoin GTN, it does seem a bit strange that Doge actually trails the Glitzkoin token. It might be easier to boast about Glitzkoin GTN investor sentiment but, the issue really relates to DogeCoin itself. For reasons unknown it does seem that, Doge investors are not very comfortable with the token even when, some wonderful things are said about it!

The bottom line is that, Glitzkoin GTN, Cardano, DogeCoin or any other cryptocurrency for that matter, would reflect a price level that is defined by the mood of investors. Prices could move up and down, so there is nothing that is fixed. The information in this report refers to a time frame that is around mid-April 2022. While Glitzkoin does not consider itself to be superior to DogeCoin, we are grateful to our investors and stakeholders. We would never have made it this far without your steadfast support.

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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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