Sia got hit harder than most alts... even though the entire crypto market took a nosedive. Some coins are straight up shitcoins but Sia has good long term potential and a solid team behind it. So I was really surprised that it would get hit so brutally.
There was a bit of panic around the Obelisk uncertainty and funding but it seems to have been sorted out.
They have 1200 Obelisk pre-orders and they will move forward with the production (people who ordered will get an estimated 250GH/s now)
The received a $400K grant from Li Xiaolai, a well-known billionaire in the crypto space who believes in Sia's future
NBlockchain provided the grant so that the Sia team can focus on development and not on fundraising. "Don't worry about money, just have things well done,” said Li Xiaolai, founder of INBlockchain.So, the price drop did hurt me a lot... but I'm also more confident that it will recover. What worries me the most is if BTC rallys to $5000-$10,000, shouldn't the ratio of SC/BTC drop even more? Otherwise, I really do think SC has been oversold, especially since some of the uncertainty has been relieved and the team can fully focus on development for the next year. But I do have a bad feeling that the downtrend isn't over yet... and SC could potentially drop as low as 150 sats.