It would be nice to understand whats behind the selling

Question

It would be nice to understand whats behind the selling

pressure of this coin? Also, how does it make sense that erc20 price is higher than native? Erc20 has 0 use case.

Who is selling these NATIVE coins?

#coti #cryptocurrency #english

0

08.02.2022

5 ответов

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Pep 🇮🇹 Автор вопроса

Volume doesn’t mean higher price. There are bots behind both that keep the price up or down. In the actual situation (only native coins into tresury) you would expect the native coins to overtake the price of Erc20 but it’s not because there is a massive selling pressure on huobi and kucoin.

0

08.02.2022

Zippy Zoro | Resolute Node

Pep 🇮🇹
Volume doesn’t mean higher price. There are bots...

ERC20 is used by traders mostly and that is it's utility. While native is for COTI network usage / staking / paying for fees on ADAPay etc You're right that volume doesn't mean higher prices , however there has always been arbitrage between the 2 while there is money to be made people will use bots to automate the trading of ERC20 vs Native. This is why the bridge closed and Huobi stopped Native withdrawals a while ago "This is why we can't have nice things"

0

08.02.2022

Pep 🇮🇹 Автор вопроса

Zippy Zoro | Resolute Node
ERC20 is used by traders mostly and that is it's u...

What is COTI doing to solve this problem? @shahafbg

0

08.02.2022

Zippy Zoro | Resolute Node

Pep 🇮🇹
What is COTI doing to solve this problem? @shahafb...

No need to ping Shahaf , It's been discussed a lot of times by him and the team, Everyone is aware of the need to have a longer term fix. The hope is that the treasury increases demand for native and closes the gap which removes the need/ability for make money from arbitrage

0

08.02.2022

Zippy Zoro | Resolute Node · Accepted Answer

Zippy Zoro | Resolute Node

ERC20 coin can be listed by anyone while Native takes work on the side of the Exchange. And ERC20 is on major exchanges like Binance/Coinbase etc so they have volume. As for the selling pressure I guess that would be a question for the trading group

0

08.02.2022

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It would be nice to understand whats behind the selling

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