TENX PAY why the huge price drop after it listed on exchanges? My theory.

in tenx •  2 years ago

tenx.jpg So you probably clicked on this link to find out why TENX tanked in price once it came onto Bittrex.
Now we have all heard that the initial ICO sale was a huge success which sold out in minutes.

TENX raised 200,000 ETH yes thats right 200k Ether!

A very successful fund raising exercise.
Investors could not get enough. I'm sure many missed out.

So what happen when the tokens reached the first exchange Bittrex.
The price skyrocketed to roughly $70 and then came crashing down to $1
I personally did not buy the ICO but looks like someone made a pretty penny on opening.
Though I do wonder who was able to sell at this price. If that is you congratulations

So why did it drop?
Was it because of of hitbtc exchange selling their own IOU ICO tokens before the ICO tokens hit major exchanges at crazy prices and people who missed out on the initial ICO had a serious case of FOMO (fear of missing out). This would explain the initial madness of the price drop once people realised they could buy it on Bittrex at less than a $1

So if you did buy into the ICO through TENX I wouldn't get to upset.
Many people thought the Company was selling their own tokens to profit. But this makes no sense unless it was a scam business which it clearly is not.

So everyone relax a little unless you were one who bought at $20 $50 $70 on HITBTC. Hopefully you will be able to make your loss back but it may take a few years.

I'd like to know what your thoughts are? Comment Below.

I'm considering writing on the thoughts of the future of TENX.
If this is something you and interested in please follow and comment

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FYI:
1 Ether = 350 Pay Token during the ICO, partly 20 rebate so even 420 Pay Token
Doing the math 1 Pay Token was worth 1/350 Ether respectively 1/420, so less than a dollar.
Nobody participatingthe ICO has lost big time.

The TenX team is awesome. This project WILL rock. Highly advise to invest.

finally someone not talking trash. I gave you an upvote :) i HODL PAY!

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I think TENX will run into some stiff competition in the near future for the old big end of town aka VISA etc