Investors Tezos having the opportunity to merge their tokens immediately did. At least, this is evidenced by market data, showing that the wave of selling has occurred immediately after it was released in beta.
Last Monday, the price of the token fell 34 percent to $ 2,00, according to CoinMarketCap, and by Friday she was already decreased by 74% to $1.10 USD. At the time of preparation of the material Tezos recovered to $2,21.
It is noteworthy that the sale coincided with the first token Tezos listing on the stock exchange, meaning that investors quickly took advantage of the access to liquidity.
Last Monday Gate.io, a small exchanger, which occupies 22-e a place on volume of daily trading, announced that will support trade in XTZ. Before the publication of the Gate.io price data were based on proxy servers, tez, commonly called IOU, available for trading on HitBTC.
You may not need to call hard the first week with the collapse of the project, which raised $ 232 million in July 2017 when conducting a record ICO. At the time Tezos drew attention to themselves with their creative solutions to the problems of management in the blockchains.
However, for investors who tez at a price of 0.47 dollar selling remains profitable.
That is why analysts believe that the decline is a temporary setback because of the desire of investors to profit.
Tim Draper, the investor who called himself a “long-term Hodler” tokens of the project, said:
“Apparently, formed a depressed proposal as the starting token for took more time than originally envisioned, and some people probably needed the cash”.
A sudden rush of liquidity into the market Tezos, thanks to the listing at the Gate.io had a strong negative impact.
Although this allowed the investors to sell, probably, has not provided sufficient liquidity because of the relatively small trading volumes on the exchange.
In General, investors in Tezos optimistic even after the sharp decline in prices.
“This sale is great,” said one Reddit user, claiming that the release of “unbelievers” from the Tezos community will only strengthen it. A Twitter user was credited with the sale “weak hands”.
Meanwhile, several users of the forum Tezos boasted that we were able to buy tens of thousands of tokens through OTC instruments.
Mariano Gadea, head of delegation Tezos CeiboXTZ (owners Tezos will soon begin to “delegate” their tokens to the validator whose job it is to maintain the blockchain), went so far as to say:
“I think there’s no drop in prices.”
He explained that the market is experiencing “adjustment” between debt instruments HitBTC and the living token network Tezos, and expressed confidence that the market capitalization Tezos will soon have to compete with Ethereum.
However, in the most stubborn bullish sentiment many expressed hope about stock exchange listings, based on the feeling that the listings on the major exchanges, such as Binance will attract buyers to the market Tezos and support the price.