Chinese Crypto Insider: Most Qtum-Based Crypto Tokens Fail to Hold Their ICO Price
As mainstream cryptocurrencies are back from the brink and the leading cryptocurrency bitcoin is on the rise above $7,000 again, the rally comes as a relief to crypto holders after the three months sluggish.
While for those who hold cryptocoins issued on Quantum, they are still nervous about their holdings and want to get out of the trap eagerly.
“It’s impossible (to get out of the trap) in my rest life,” said an investor hopelessly, who had participate in the ICO of SPC (SpaceChain, a cryptocoin issued on Quantum).
Going through the ups and downs in the crypto world, there’re currently two basic consensuses reached by Chinese investors in the fluctuating crypto sector,
- cryptocurrencies listed on ZB exchange are “seriously declining” in quality
- crypto tokens issued on Quantum chain are “seriously broken”
Over the past year, Qtum has left the impression that it is a gathering place of “broken cryptocoins”- BOT, INK, SPC, HLC, OC, AWR. All these tokens issued on Quantum failed to hold their ICO price after listed on exchanges, some of which even drop close to zero.
2018 is touted to be the year of public blockchain. A plurality of public chains continue to emerge, among which, Quantum shot up as one of the most potential Chinese blockchain projects. In 2017, Qtum seized the timing to launch its public chain and then had many big names in the community to promote it. According to coinmarketcap.com, Qtum is currently traded at $8.41, ranked 22th by market cap.
Nevertheless, a majority of tokens issued on Quantum blockchain turn out to be failures. Why? “Because they are too imaginative and unpractical. To get a sense how crazy they are – HalalChain (HLC), aiming to reshape the Islamic world with solutions to halal food traceability, and it was allegedly backed by Dubai royal family; and the ambitious SpaceChain (SPC) …” industry sources concluded.
“Look at their names, full of fantasy! How could that be real?”
According to data from Qtum’s official website, there are currently 173 tokens issued on it, among which, 136 tokens are little-known, held merely by several individuals, and only 21 tokens have holders in 4-digit numbers.
As for tokens with a large number of investors, their prices are falling, hardly to hold their ICO price, and some even drop towards zero.
Some failed tokens issued on Quantum (their ICO forms are varied, ICO prices are all presented in RMB)
Most tokens are issued on Ethereum, many blockchain start-ups are hesitant to issue token on their fellow Chinese public chains like Qtum, fearing to be “infected” by those “broken” tokens.