2/19 ANDY HOFFMAN (CryptoGoldCentral.com): As BRhodium’s “Listing Overhang” Melts Away, It’s Amazing Fundamentals Unfold
Last week, I wrote of the (typical for altcoins) decline BRhodium was experiencing after having listed on the Sistemkoin and P2PB2B exchanges in mid-January. The reason being, that many holders of this free, 10/1 XRC/BTC airdrop were waiting for exchange listing to sell – having no knowledge, or desire to use, the OTC markets; and/or expecting an exchange-related pump they could sell into. That “pump” occurred in the OTC markets, however, with XRC rising from $3 to $30 on heavy volume in November and December, only to decline as low as $1 last week as said “overhang effect” occurred.
I was a big buyer on the decline, which I was very vocal about – as it’s truly amazing what this world-class, anonymous development team has created in just a year’s time, amidst the worst possible crypto market conditions. That is, a brand new, perfectly operating blockchain with a strong investor community, unique “Strong Hands” dividend program, web and Electrum wallets, and extremely scarce supply – much of it, held by a handful of Bitcoin “whales” with little incentive, or need, to sell.
From this week’s low of a paltry $1.5 million market cap, just a few thousand XRC (BRhodium’s ticker symbol) was all it took to raise the price back to roughly $10, representing a still microscopic $8 million market cap. This, compared to “comps” I believe it may one day trade higher than – at least, some of them – like BGold, BDiamond, Super BTC, Lightning BTC, and BPrivate; which trade at market caps ranging from $25-$225 million. Given the amazing fundamental developments at BRhodium, I’d be shocked if it shortly isn’t trading within this range…ESPECIALLY if the crypto market has indeed bottomed.
The fundamentals that drove it to $30, or a roughly $25 million market cap, on heavy OTC and Bisq volume in late December until the mid-January exchange launches were real – and have gotten “realer” since. Those saying XRC “needs a better exchange” don’t realize exchanges have little to do with a coin’s success – particularly during bear markets, when essentially all news is deemed a selling opportunity. As it turns out, P2PB2B is an excellent exchange – as I have now used it multiple times, seamlessly. Essentially all of BRhodium’s trading volume has migrated there, and it is proving to be liquid, efficient, and customer friendly. By the way, most exchanges charge exorbitant fees for the “privilege” of listing new altcoins – but in a world where crypto exchange operation is becoming ubiquitous, it won’t be long before no one will care about Binance, Coinbase, or any particular exchange.
As for the hype about listing on CoinMarketCap.com, at some point people have to realize this is about as meaningless as a grain of sand on the beach. CMC.com destroyed its credibility listing over 2,000 useless cryptos during the bubble hype of late 2017 and early 2018 – most of which, have essentially no market cap or trading volume. To wit, even at BRhodium’s tiny $8 million market cap, it would be the 270th largest crypto on CMC.com, out of 2,071 – which CMC or not, will likely be MUCH higher in the coming months.
As for BRhodium’s roadmap, the Strong Hands program is one of its top selling points as we move throughout 2019. Moreover, hardware wallet support is anticipated by the end of March, as well as public release of the source code - and by the end of June, a yet-to-be determined privacy feature. This, and realization that the “listing overhang” is in its final stages, could easily propel BRhodium back to its late December high of $30 – ESPECIALLY if the crypto market in general is supported by a bottomed Bitcoin price.
And one more comment, to Bitcoin maximalists who believe nothing else can prosper in a Bitcoin-dominated world. Even Adam Meister admitted today there will be opportunities for altcoins that discern themselves from the pack, and generate significant profits for investors – so take heart BRODLers, and holders of other coins with the ability to demonstrate viable, defensible long-term use cases!
https://twitter.com/TechBalt/status/1097941090571878401
If you have any questions about BRhodium, or XRC OTC trading, please email me at [email protected], or DM/PM me on Twitter or Discord.