Hey guys, why was this unexpected pump on smart cash. I haven’t been following all news. So I’m a little bit lost. But god job to the team and keep working hard to use this technology the best way possible
It was not a pump but buyers rushing to get their SmartNodes set up. It was launch this week 11th or 12th depending where you live
There is also kind of artificial growth due to wallet maintenance on exchanges. So you are not able to deposit/withdraw to/from these exchanges. The price should go down after maintenance is done.
how much to change the price? and why the pool of lost coins from the balance?
The price went also up because of massive Tether(USDT) invasion into SmartCash Coin, means tether the primary dump/pump coin usually used for BTC; If you look at the graph - its no healthy; be also aware of the amount if circulating coins; ripple had approx 38Billilon, and reached beyond 3$ but not more, so SmartCash may currently with approx 600M coins will maximum approximativ 120€ if it would reach the ripple market cap …
It will be interesting what happens to the price once Cryptopia begins trading again. I noticed after they suspended trading on the 9th the cap lost $70mm and on the 10th another $40mm.
From $311MM on the 8th to $199MM on the 10th.
Once all those coins get dumped on the market we should see a significant price drop.
The dump is alreday in place now