There was the buy wall at ICO price using the balance over the BTC raised in the ANN. The goal was 55 BTC so anything more was placed as a wall for phase two which after the fees was about 7 BTC from what I saw.
It seemed that after it went up, there was dumps into it if you look at the volume, it was not pulled down by anyone manually.
Selling ICO coins like this right after launch can happen for two reasons, one is someone decided they no longer wanted to be involved but since there has been no news yet, may not be the case. The other is that someone may have been trying to cause panic sells and dump coins into the buy wall to cause a major dump for cheaper coins which is more possible.
The benefit with SMAC and how it is structured is there is a very small PoW phase starting soon which still is nothing compared to the ICO coin sell. Also, all coins are traceable from the block explorer so these again are ICO coins that are being used to exit or cause panic dumps from what I can tell. The benefit is that the effort has failed since most coins were eaten by the wall and other buys keeping the price very close to ICO phase. The idea behind this and the high PoS interest was to let people accumulate coins and PoS them at high interest until the backend social accounts started so this seems interesting to watch this attempt.
It seemed that after it went up, there was dumps into it if you look at the volume, it was not pulled down by anyone manually.
Selling ICO coins like this right after launch can happen for two reasons, one is someone decided they no longer wanted to be involved but since there has been no news yet, may not be the case. The other is that someone may have been trying to cause panic sells and dump coins into the buy wall to cause a major dump for cheaper coins which is more possible.
The benefit with SMAC and how it is structured is there is a very small PoW phase starting soon which still is nothing compared to the ICO coin sell. Also, all coins are traceable from the block explorer so these again are ICO coins that are being used to exit or cause panic dumps from what I can tell. The benefit is that the effort has failed since most coins were eaten by the wall and other buys keeping the price very close to ICO phase. The idea behind this and the high PoS interest was to let people accumulate coins and PoS them at high interest until the backend social accounts started so this seems interesting to watch this attempt.
Thank you for your input!
I am staking coins in my wallet atm and will do that for a while. The stronger my hands, the more reward I'll receive. I choose a stable reward vs risky trading (especialy at this phase).
