On a positive note, Chia’s price staying above $20 is surprising.
I hope those hodlers start trading their Chias to spur price increase.
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why is the price of > 20 surprising exactly?
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Anyone buying right now? It’s not cheap enough to make a ‘clearance aisle’ play and the web 3.0 environment is a dumpster fire. Thumbs up to CNI for holding the line and developing and networking this last year but yikes, what a mess this industry is.
CNI?
is that Chia Network Inc?
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Unofficial shorthand, yes!
I actually quoted $20 as the “floor price” for Chia and got it wrong. I guess it’s $30 !
Of course ! With the IPO officially underway it’s a matter of months before it happens and the price surges. The netspace is very strong, Chia is still the number 1 PoST coin, CNI is delivering products to customers.
The only people this bear market is bad for is ICO/NFT grifters
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What is the reason that everyone thinks this IPO will all of a sudden make the price go up? It will def attract investors who will buying shares of common stock and the media coverage will get us a little spike and maybe you can sell off and make something and buy back when it goes back to normal but its not going to magically generate trading volume and increase market cap which is what is needed to start seeing growth. I just don’t see it I really hope you guys are all right about this but I keep hearing about how the ipo will fix the problems and get the price up but I don’t see how it will do that we still have the same root problems which is no recognition or awareness of XCH as far as the general public goes because its absent in all the mainstream exchanges that they all use. They see these news articles and get interested for a minute and then when they cant buy it on coinbase or any of the other exchanges they’re on they forget about it and we end up back where we were. We need trading volume and the IPO isn’t going to do that unless theres an aspect Im not seeing that will be a result of the ipo that could contribute to increasing volume and awareness and get use moving in the right direction. Also submitting the documents to the SEC is not the same as the SEC approving the IPO so we may still be in for a battle between their legal team and the SEC to even get it approved between the added regulations right now and the fact that this will be a unique crypto related IPO since this isnt a mining firm or an exchange or news and analysis crypto company its a company that controls a blockchain and its own cryptocurrency which if approved will make it the first company that i know of who is facilitating the blockchain they created and control a crypto currency and also would be selling stocks and would be involved in securities and would have to operate according to the SEC laws and regulations while managing the XCH blockchain. It sounds like a bad thing to me unless they take the capital they raise with the IPO and dump it into marketing and make it a priority to get the coin listed on all the big platforms and make it known its there so we can get some trading volume to start growing finally. They are delivering products to customers like you said and doing big things with the environmental conservation organizations and all that but those are all things the shareholders who buy in and own the common stock will benefit from. The revenue from those projects and from the ipo capital raised is going to go back to the shareholders and we are not shareholders. There are regulations and the shareholders will be able to vote on every major decision made and the companies first priority will have to be the shareholders by law and because they will have shareholders with voting rights and a board of directors and all those people will vote for things like dividends which will put earnings in the pockets of the shareholders not the miners or the people holding XCH.
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There isn’t even enough of them to move it lol the trading volume is pitiful. OKX though damn I don’t even think I have heard of them or dont remember if i had heard of them why do they have so much volume compared to every other exchange? Are miners using them to trade or liquidate their xch? with all the discussions about where to best transfer the xch to trade or liquidate I have never heard anyone bring them up or say they used them but they have more trading going on than everyone else put together
Even just paying to get an add on kucoin where they always have these promos going would be huge they never do that stuff and the other altcoins run promotions constantly to get people trading
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There are a good number of South East Asian exchanges that are lighter on KYC requirements - it’s not that we have anything to hide, sometimes we just want to seamlessly glide between projects (coins) without getting the “drug dealer” or “insider trader” treatment we get in the US. I’m still annoyed my dopey photo and ID are on file from the last bull run, I’m doing what I can to not get tangled up in that anymore.
IPOs are a way to raise capital, and that’s exactly what will happen. There is nothing magic about it, the marketing of this IPO will make financial markets aware of Chia as a smart contract platform tailored towards financial transactions. I couldn’t read everything else you wrote, it’s just too much text.
Market drives prices not IPO. It’s supply/demand at play. If there’s no trading for Chia coin price won’t move.
So you guys, specially the hodlers waiting for price to go up, should trade your coins (spot or margin trade) so there’s market activity for Chia coin. That’s the only way for the price to go up/down.
Even if there’s an IPO if no one buys or sells Chia coin the price won’t move.
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That’s quite the tautology!