What is reasoning behind current price pump? It is nice to see, but with lack of any news it worries me that it is just artificial. I picked up a decent amount during last few days. I do not really plan on selling for a while, until at least some of the tech has been released.
It is obvious, arbitrage difference between YuanBao and Bittrex has closed, so what has happened is that somebody got the opportunity to arbitrage trade between the two exchanges, thus resulting in a new price on both exchanges that is the middlepoint in the previous gap. So now new fundamentals, just a more liquid market.
I think you are absolutely correct. Easy to see. Wish I woulda been the one to do the arb - ha ha. Been picking off a few arbs on HitBTC. Nothing to write home about. I passed the info you shared on the HitBTC trollbox, and some idiot told me to stop FUDing. While, yeah, I wouldn't mind grabbing even more at a lower price, I am certainly wanting the price to go up, not down :-). That news is definitely not FUD. It is actually the opposite. I was trying to ease their minds that it wasn't a typical pump and dump. I don't believe any major dump is going to happen. Due to the Yuanbao arb being the main reason for the increase. Glad we finally got our coins after the password fiasco. The devs and CEO kept their words. So I am staying the long haul.
You might be right/wrong, this project hate to be valued below $2 and everyone knows this. Many interested investors are being made to hold because of bounty talks and believe that bounty participants would dump so they kind of waiting on bounty dump before they start buying but it might backfire; For the same reason your arb comment sounds like a FUD because you make it look like it's impossible for this coin to do 35% overnight? maybe you have no idea what we have here, but to me and a many others, this is not a pump neither is it arb effect; it's a normal demand interest.
I agree mostly. However, the arb was obvious. And yeah, a lot of investors scrambled to buy, before the price leveled off. Totally agree, it is still way undervalued. I definitely know this coin can do well over 35% overnight, even without a deliberate pump. I was just saying, as timvim stated, it was totally obvious that someone figured out a way to arb Yuanbao. This is still positive in my opinion. I did not FUD, that is for certain. I was just as happy as most to wake up to the nice surprise this morning :-). I have enough DCT to not need to buy more. I want price to go up not down.
