As everyone know the price dropped a lot since NXPS ATH and there are a lot of angry ppl within the community bc of it. Probably bought during the hype period for the swap or hodlers since the earlier days but now lost hope. Some of them spreading fud/scam and even aggresive stuff on social media and could potentially ruin the reputation of the project in the long run.
As idea i think it be good if Zac will write a official statement with the reason how it could drop that much. Ofc it was going lower bc of the latest BTC downtrend but it was already before that going lower. Also give them some sort of facts about the project or anything that will make them believe again.
Then the statement on social media, mainly Twitter.
I’m a happy hodler, bought more during the dips till the bottom and reacting on fud/scam related messages. I’m sorry that i have to come with a idea like this but it could help ppl forgive, believe in the project they invested again and they asking for a statement.
Keep up with the good work team and good side of community with the positive info and vibes. In the end, everything will be alright with all sort of things🦾
I dont think it is up to Zac or pundi labs even to speculate on the reason for price drops.
The market conditions are out of their control. For them to offer speculation is purely that, speculation.
We can as a community identify what happened though
- The token swap process on each exchange was not done in a timely manner resulting in market chaos from arbitrage opportunities, as well as investor panic for those that did not read the exchange announcements
- Profit taking from early investors that bought the token during the crypto winter. Diamond hands attitudes are for those who do not have a plan. It must be considered that those that accumulated serious amounts of coin would take profits.
- Upward market cap movement limitations. It must also be considered that the parabolic movements move in both directions. This swing pattern was also timed with a BTC sell off which drove the price down even further.
- Lack of technical understanding by FOMO investors. It could be clearly seen that many of the investors who bought at the top of the growth expected another 20x gain from their position. This is crazy to expect as much after things grew to such levels. Many did not read the redenomination article, or did not understand what it meant in actuality. Many assumed that there would be a 1000x token BURN, not swap. They assumed they would hold millions and millions of tokens, while the supply was culled to current levels, making them instant millionaires.
These are some of the biggest reasons I see myself, and as I stated at the beginning of the post I do not think the company should offer speculation on the price.
The only thing I would like to have seen is a post mortem on any difficulties in convincing the exchanges to operate on a specific time table.
I agree but the problem is that the ppl won’t take the community serious and hold the team responsible for it. We could say it onehundred times but won’t help. I know it’s out of the team’s control what happened. That’s why some sort of statement even it’s not their fault.
Haters gunna hate, Scammers gunna scam; This is but crypto, the truth always shows;
If we all share the good news of this token and our community; Eventually it will stop the FUD;
I can admit the swap was poorly handled but that is ultimately in the hands of the Liquidity Providers; Perhaps we can reinforce this; But also learn from it….
you can come up with 1000 reasons and you may not be partly right with any, “It’s a market” People are allowed to take profit anytime they see fit, the market will return when the next load of believers come, Pundi are a long term real world project working in the real world; they are not going anywhere! building none stop, the last load of buyer’s took it for a short ride; next generation supporters might be more focused on longer term goals as pundi tick off their biggest goals coming into main net the value will always grow organic over the years. I find it disappointing people have no trust or faith because they listen to people that have not done their research, In terms of a growth period the project is not even that old and considering they have incorporated real life working products for the most part you are left wondering if people read anything at all; because to understand this project you know the future is pretty certain. Be responsible for your own decisions pundi is taking the services to be decentralised this means like bitcoin when you work with your crypto your losses are on you, who do you call to blame and cry at when BTC drops 60% “no one right”
Pundi have built a needed world wide service, not a get rich in 5 min meme
the last market rise was just a spark; the following rises will be the fire have faith!