Glitzkoin has for the past few months been highlighting the high possibility of, gold and stock investors investing in the Glitzkoin GTN token. This theory was supported by numerous messages that, were received by our support teams from those investment sectors. It goes without saying that, these investors continued to be active in their respective sectors too. Glitzkoin GTN has seen a number of first time crypto trade participants – something that speaks well of the project and the token.
In general the trend for gold investors to get involved in cryptocurrency trade, has shown an upward movement. Altcoins with potential have gained impressive recognition from such investors. Glitzkoin with its close connection to the $90 billion diamond industry, has drawn interest from investors in multiple sectors. The DiaEx diamond platform which, helps diamond traders conduct B2B and B2C trade in diamonds, has been operating since October 2021. Designed and developed by the Glitzkoin team, DiaEx designates the Glitzkoin GTN token as the mode of payment.
The Glitzkoin GTN token surged around October 2021 when, the DiaEx trading platform was launched. The positive impact that this event had on the token was further highlighted by the fact that, the launch was preponed from 2022 to October 2021. The token surged from $0.25 to $1 and then climbed to $2+ before, ending 2021 at around $1. The price level was maintained until mid-Feb 2022 when, the Russia-Ukraine turmoil spilled over. What happened after that, makes an interesting case study.
As the war picked pace, conventional gold and stock traders with investments in Glitzkoin, were taken by surprise. Having traded gold and stock for decades, these first time crypto investors were inclined to divert their crypto funds to those sectors. This was a clear sentiment that, was experienced by a couple of Altcoins – not Glitzkoin GTN alone. We saw the Glitzkoin GTN token slide from a high of $1 to around $0.25. While this would normally ring alarm bells, crypto investors better understood the situation. Dollar volume of Glitzkoin trade, surged even as the price dropped.
A logical explanation was that, seasoned crypto traders were filling in for those large volume gold and stock traders. The Glitzkoin GTN token remained fairly stable at around $0.25 (early March 2022). The important thing to understand is that, the exit of professional gold and stock traders, was not triggered by a distrust in cryptocurrency. It was just that, these first time crypto investors felt more comfortable with funds anchored in investment sectors where, they had been operating for decades.
So the big question that is on many crypto savvy minds. Will these gold and stock investors, come back to the cryptocurrency market. Will Glitzkoin GTN continue to receive their support. While this is a speculative market, logical explanations and reasoning could reveal possible trends. We need to remember that, most of these Glitzkoin GTN investors were first time crypto trade participants. An event like the Russia-Ukraine conflict, upset their investment plans. The exit from Glitzkoin or other cryptocurrencies by such investors, was in no way related to a negative crypto sentiment.
Fair to say that, an easing of the Russia-Ukraine crisis, would bring back these investors to the crypto market. Glitzkoin is of the opinion that, increased crypto exposure and trading experience would in the future, boost the confidence of this investor group. Such extreme selloffs during political or armed turmoil, would gradually get blunted.
Glitzkoin like most of world believes that, war brings nothing positive. It is impossible to find true winners in any armed conflict. Sincerely hope that, we see a quick end to the violent events in Ukraine.
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.