Did you ever see “Blind Date” with Bruce Willis and Kim Basinger? That’s about the best analogy I can make for how BRhodium’s long-awaited exchange listing has gone – during which, it lost 65% of its market cap in 24 hours, despite nothing materially “bad” occurring. Certainly, nothing fundamentally significant. In other words, another example of why, during bear markets like the one still raging in cryptocurrency, investing is a minefield of risk…and opportunity.
BRhodium’s development team has performed a Herculean task over the past 13 months – creating a brand new blockchain, for one of the few altcoins offering a viable, defensible use case. Not to mention, a strong community, of both investors and miners. However, the transition from OTC to exchange trading has not been seamless – causing investors to panic, for what will in the big picture be deemed as fundamentally immaterial “reasons.”
In the case of p2pB2b.io, exchange listing was announced December 14th, but delayed several times due to seemingly endless, minor technical integration issues – that shortly, will be resolved. As for Sistemkoin, trading launched on schedule three days ago. However, for the past 24 hours, its BTC wallets were upgraded – prompting panic amongst investors, as deposits and withdrawals were suspended.
This, whilst XRC (BRhodium) transfers were also delayed, due to the need of a minor network upgrade. The reason being, that it was not realized during exchange integration testing that the XRC blockchain had transaction size limits – that were triggered when it experienced the exchange’s multiple-input, batched transactions. Both issues have been since resolved, without issue – however, confidence was shaken, resulting in the significant price decline.
The funny thing is, that once the upgrade was performed, XRC’s mining hash rate returned immediately to its prior, near-record level. In other words, the “panic” in the investment community was not matched by the miners. To that end, the amount of volume that caused the price to fall from .006 BTC to .002 BTC was roughly 500 XRC, compared to the 100,000+ it took to raise it from .002 to .006 over the past months’ time. In other words, an OPPORTUNITY to buy XRC cheaply – that is, if any real size is offered…which as of yet, is tellingly absent.
Another interesting aspect of the “Great BRhodium Panic” is the Strong Hands program – that rewards wallets from the January 1st snapshot at year-end, with in-kind “dividends” ranging from 0.5% to 30% of holdings. The annual XRC dividend is fixed – so the more people sell, the higher the reward for those that “BRODL.” Clearly, a powerful price support tool – but no substitute for incremental buying demand, which vanished in the “panic” of the past 24 hours.
The way I see it, BRhodium’s $10 million market cap makes it the cheapest in all of crypto-land – as nothing fundamentally has changed, at a time when the most important fundamental factor, BTC stability, has improved. Moreover, I assure you the dev team understands, loud and clear, what the market is currently seeking; i.e., more exchanges, of higher quality. Thus, a perfect example of “growing pains plus the crypto bear market yielding a significant buying opportunity.”
If you have any questions about BRhodium, or XRC OTC trading, please email me at ahoffman@cryptogoldcentral.com, or DM/PM me on Twitter or Discord.