In this video we trace the journey of the Glitzkoin GTN token, one of the very few cryptos to have resisted the crypto market slump of November and December 2018.
The GTN token was launched as part of the Glitzkoin diamond blockchain project. It happens to be the first, diamond blockchain to be promoted by an insider from the glittering multibillion dollar industry. The ICO for this project was conducted from March to June 2018 and the GTN token, was priced between 15 cents to 20 cents during the ICO.
The GTN token was listed on Stellarport in July 2018 and it was immediately evident that, the crypto community would continue its strong support for the project and token – even after the ICO completion.
The price of the token during July to October 2018, hovered around the ICO value which was 20 cents. November and December of the same year, saw a drastic drop in the price of Bitcoin, the king of the crypto world lost as much as 70% of its value.
As crypto markets dropped along with the BTC towards the end of 2018, the Glitzkoin GTN token proved that projects with a strong base were still being favored. The token moved against the tide and reached the 30 cents level – a hefty 50% price appreciation when compared to the 20 cents ICO price. This was also the time when, the number of GTN crypto holders jumped above the 12,000 mark.
Crypto market analysts agree that, reckless speculation would no longer be in the interest of digital currencies. This as cryptos strive to gain a foothold in the real world economy. So what exactly drove crypto enthusiasts to support, the Glitzkoin project and GTN token?
There are a few theories going around that attempt to explain, the GTN price surge towards the end of 2018. Without getting into details, we at GTN feel that – the crypto community has begun to review blockchain and crypto projects in greater detail. Projects that have nothing more than a crypto, are being sidelined. This shows maturity and should be welcomed by true crypto supporters.
The Glitzkoin diamond blockchain is promoted by a second generation diamond veteran, Navneet Goenka. The project is focused on the 90 billion dollar diamond industry. Included in the Glitzkoin project plan is a comprehensive diamond trading platform named, DiaEx. The GTN token is the designated mode of payment on DiaEx. This to fulfill a longstanding wish of diamond traders to have access to a payment mode that, was not entangled in cumbersome and expensive banking procedures.
Crypto world participants continue to strongly support the GTN token as it trades on Stellarport. The implementation of the DiaEx diamond trading platform, will generate another stream of demand for the token. This from diamond traders looking to fulfill their payment commitments, for transactions conducted on DiaEx.
The story of the GTN token would not be complete without, mentioning ongoing efforts to deliver an additional source of demand for the token. Glitzkoin promoters are exploring the possibility of having business houses, accept the GTN token as an optional mode of payment in their operations. Pilot testing for this is expected to commence in the first half of 2019. While it is too early to make predictions about how big, the impact of this would be on the demand for GTN tokens – it does reveal the forward thinking approach of the Glitzkoin management team.