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Blackcoin Ecosystem Going Through Liquidity Issues

Avatar Yashu Gola 5 years ago

There is a colossal need for “improving and maintaining liquidity in the Blackcoin ecosystem”, according to Grittenald, the caretaker of Blackcoin’s International Public Relations department.

The words, which many in the community would agree with, comes after discussions with the world’s leading cryptocurrency exchange like OKCoin, Huobi, BTC China, BTC-e and CAVirtex. Reportedly, they all agreed to integrate Blackcoin trades to their respective platforms only if the coin’s liquidity improves. Grittenald consequently reached out to the community and presented a carefully constructed plan to achieve some developments in the coming weeks.

At first, the Blackcoin moderator urged the community to trade on Exco.in as it will allow them to increase the overall trading volume.

“The fee pressure from Exco.in profits will create even more buy pressure on Blackcoin,” he added.

Secondly, Grittenald requested the community to “start mining Blackcoin Pool again”. He emphasized on increasing the buy pressure by mining even on a bad day. In his last appeal, Grittenald asked the community to raise their fees between “1 BLK – 5 BLK” to promote staking and distribution. He further insisted people to use social media platforms to promote Blackcoin.

“Once we achieve this volume as required by exchanges and sustain it, we will see Blackcoin larger than anything else,” Grittenald concluded while highlighting Blackcoin’s achievements since the time of its launch.

It is too soon to comment on the feasibility of the aforementioned plan, as it requires to be implemented on a much larger landscape. But from the look of it, it seems achievable if the Blackcoin team comes up with a more elaborated marketing framework.

Source: Reddit

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN...

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