What is reasoning behind current price pump? It is nice to see, but with lack of any news it worries me that it is just artificial. I picked up a decent amount during last few days. I do not really plan on selling for a while, until at least some of the tech has been released.
It is obvious, arbitrage difference between YuanBao and Bittrex has closed, so what has happened is that somebody got the opportunity to arbitrage trade between the two exchanges, thus resulting in a new price on both exchanges that is the middlepoint in the previous gap. So now new fundamentals, just a more liquid market.
I think you are absolutely correct. Easy to see. Wish I woulda been the one to do the arb - ha ha. Been picking off a few arbs on HitBTC. Nothing to write home about. I passed the info you shared on the HitBTC trollbox, and some idiot told me to stop FUDing. While, yeah, I wouldn't mind grabbing even more at a lower price, I am certainly wanting the price to go up, not down :-). That news is definitely not FUD. It is actually the opposite. I was trying to ease their minds that it wasn't a typical pump and dump. I don't believe any major dump is going to happen. Due to the Yuanbao arb being the main reason for the increase. Glad we finally got our coins after the password fiasco. The devs and CEO kept their words. So I am staying the long haul.
You might be right/wrong, this project hate to be valued below $2 and everyone knows this. Many interested investors are being made to hold because of bounty talks and believe that bounty participants would dump so they kind of waiting on bounty dump before they start buying but it might backfire; For the same reason your arb comment sounds like a FUD because you make it look like it's impossible for this coin to do 35% overnight? maybe you have no idea what we have here, but to me and a many others, this is not a pump neither is it arb effect; it's a normal demand interest.
Before launching the main network, by the comments here it seemed that the project was going to be released at $ 10. But even being $ 1 to $ 2 I believe that this project is for HOLD. I wanted to buy some more, but I'll wait for the bounty distribution, the price should fall.
Those $ 10 at start comments were hilarious. It should go there but it goes even more down before that, going up always takes longer then predicted. Untill it's parabolic
