Topic: Small altcoin that is totally dominated by a single exchange (Read 575 times)
Small altcoin that is totally dominated by a single exchange because that altcoin itself is just trad-able there or one or two exchanges and with that people tend to exchange there and some big fish play with it and mask to be a boom coin but when they think it is time to opt-out they will dump it hardly.
Nothing wrong with it. Every coin has got to start somewhere amirite? Unless your project is big and has quite a bit of backing its not gonna end up on Poloniex or Bittrex real quick.
That's a fair statement. You have to start somewhere.
I would bet long term and feel safe(r) if at least 2-3 exchanges are trading it, even if it's the smaller exchanges. I don't want to see the only exchange stop trading, however small the possibility might be.
Nothing wrong with it. Every coin has got to start somewhere amirite? Unless your project is big and has quite a bit of backing its not gonna end up on Poloniex or Bittrex real quick.
Anyone thinking of starting a coin and really wants it to work will treat it like a brand new business, and have a proper starting budget to begin with. You need investment first to make the coin and then another big investment to push it through exchanges.
I would not buy such a coin. Coins where price is made on only one big exchange are not a good investment because price can jump much stronger as when it would be traded on various big exchanges. I made the mistake several times to invest in low volume coins which are traded on one bigger exchange. All have failed in the long term and the I made losses.
This is to make it or Break It point for a lot of coins , many times they are on that not many people use are they are at Exchanges that have so many coins they never get noticed it is up to the developer sometimes in money, to do what he has to do to make the project succeed. that is why a zero budget coin can I have a very limited life cycle
A coin just controlled by one exchange won't really develop. It will always remain as a pump and dump coin.
Lbtc it's completely done in yobit and also there is huge pump happening if you can check the yobit arround more than 6x pump it's mostly traded in yobit.
There is no doubt that the exchanges play games and have a large amount of control over a large number of coins. But, for a new coin or a coin that never had much popularity, this domination doesn't have to take place. If you think about it, most of the exchanges have a paid program for inserting new coins , and while the fees for inserting is going to quite High, if a coin gains popularity , it will generate enough revenue for itself to pay for the inclusion on the other Exchange.
What is your take on certain small(er) altcoins that is dominated by a single exchange.
For example tagcoin's transaction is almost entirely from btc38.
For example tagcoin's transaction is almost entirely from btc38.
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