XYM on Solana, its liquidity and price are laughable 🤣
I once received a DM asking if I'd like to promote it, but I declined, saying I couldn't because I support the original!
I doubt anyone would buy this, but when I bought some out of curiosity, the price didn't change, probably because no one was trading it, so I neither made nor lost money!
https://pump.fun/coin/8KYuuZPLuaWWT7VmZdWz9Xh6JtgKBHEMEASo8UXGpump
Looking at the exchange's deposit and withdrawal data for the past 30 days, the potential selling pressure seems to have decreased, so that's reassuring.
However, that alone doesn't necessarily mean the price will rise...
There are two types of XYM IDs in Symbol:
Namespace ID: 0xE74B99BA41F4AFEE
XYM Mosaic ID: 0x6BED913FA20223F8
Namespace Name: symbol.xym
Isn't this a trap?
Seeing that the Monacoin chain stopped, it would be a shame to dismiss it as a dead franchise. Why did the chain stop? And what are the problems with PoW?
This is an opportunity to learn about these issues, and the recovery process will also be worth watching.
Please don't dismiss it as a dead franchise; keep an eye on its progress.
Monacoin is still alive as a chain, but the difficulty target was too high, resulting in a situation where miners couldn't mine it.
It seems the hope is that it will recover over time by lowering the difficulty target.
To be honest, I feel that Monacoin's lack of awareness regarding the slow progress of its block creation is a serious concern.
It's truly disappointing that they don't seem to have a sense of urgency!
(By the way, I don't own any Monacoin myself 💦)
If Symbol's chain were to stop, I can imagine a chaotic situation where some members of the community would rise up to try and fix things, while others would just relentlessly criticize it.
(It's hard to imagine the chain stopping, so maybe imagine the finality stopping instead.)
But as for Monacoin... I hope it does well!
Symbol's new mobile wallet appears to be already complete, and from what I can see, it's just waiting to pass the review process on the App Store and Google Play.
The launch of the new mobile wallet is approaching!
The main feature is the ability to bridge XYM to Ethereum!
While this feature won't dramatically change things, I think it's good news for people living in areas where XYM isn't readily available!
https://docs.symboltest.net/en/userbook/intro/
XYM is up a bit 📈
Personally, if MEXC is delisted, I'd like to look for an entry point while observing the subsequent price movements.
It's easy to say "don't buy," but I think what's important is how to approach it with a strategy, taking into account changes in liquidity and the movements of market participants.
I want to make a decision while carefully considering these points.
*This is my personal opinion and not investment advice.
If you're going to buy XYM, Bitbank seems like a good option!
Looking at the order book, it seems like you could manage to buy or sell around 100,000 coins!
However, if you want 1 million coins, it seems like it would take a lot of time to buy or sell.
Please note that the price is determined by multiple factors, so we make a comprehensive judgment that includes not only delisting but also the BTC market price and the overall market sentiment.
Thank you for your feedback.
I don't deny that delisting is a negative factor and will negatively impact holder sentiment and liquidity.
However, what I wanted to convey was my personal view that "at this point, the market environment surrounding Bitcoin has a greater impact on the price than the MEXC delisting."
In fact, I wrote "wait and see" here, and given that BTC has been weakening since August, I believe the possibility of XYM hitting a new all-time low has increased.
In other words, I didn't mean to say that "the impact of delisting is small," but rather that "I believe the impact on the BTC market is greater in terms of price fluctuations."
Of course, I understand that everyone has different views on future prospects, so I hope you will take this as just one opinion.
https://cotrii.com/@shozaojp/note/256
Personally, I think it's still better to wait and see before buying XYM!
I don't think the delisting from MEXC will have much of an impact, but I think the environment surrounding Bitcoin will have a bigger impact!
Since Bitcoin has been falling since August 1st, I think there's a higher chance that XYM will hit a new all-time low.
I posted on X about whether it was time to buy XYM, but it would be amazing if someone actually knew it was a good time to buy, and even if they did, it wouldn't necessarily mean it's a good time to buy lol
All you can do is try to minimize the risk as much as possible lol
Reading Oasys's announcement gave me a lot to think about.
My Crypto Heroes, a title that supported the early days of blockchain games in Japan, has ended its current service, and Oasys is also shifting its focus from "Blockchain for Games" to new areas such as RWA.
This is a challenge to adapt to the changing market environment, and I respect their decision.
On the other hand, what I realized again is the difficulty of a chain that "depends on only one specific field."
If the GameFi market shrinks, the entire chain is easily affected.
Symbol is certainly not without its challenges, but its design, which is based on a wide range of uses including not only games but also payments, proof, token issuance, and metadata, may be one of its strengths.
It is true that both are struggling.
However, this announcement made me reconsider the importance of "not depending on a single market" for blockchain to survive in the long term.
https://x.com/oasys_japan/status/2082414802945659350
These days, it's standard practice to keep a passphrase handy for wallets, so why isn't NEM doing that...?
(Ideally, I'd like both NEM and Symbol wallets to support social login.)
X's algorithm predicts what users are likely to want and displays it on the timeline, so even if you ask for improvements, you'll just get the response, "If it's not on your timeline, it's because you're not looking for that information, right?" So there's nothing you can say!
While X may bear some responsibility, the majority of the blame lies with the users as a whole!
https://www.itmedia.co.jp/news/article/2607/28/2000000249/
From what I've seen in monthly magazines like NEMTUS and XYMPOSIUM, it seems their overseas marketing is focused on KASANE, and they're not actively promoting NEM and Symbol.
I think it's impossible to evaluate KASANE right now without knowing more details.
There are plenty of investors who feel this way, and it's a perfectly reasonable opinion.
However, the technical value and investment value of cryptocurrencies and blockchain are two different things!
Tokens with no utility suddenly skyrocket in value, while things that seem useful don't grow as much as expected... Therefore, I hope people will judge Symbol not just from its investment value, but from its technical value. Whether or not to invest in XYM is a separate issue...
https://cotrii.com/@shozaojp/note/154
One of the great things about Symbol is that it's much easier to develop for, even for individuals, compared to Ethereum-based systems!
With EVM-based systems, you're required to invest at least 0.001 ETH for test tokens, which is just insane!
In that respect, Symbol is great because you can develop for it without any costs!
(Too many NEM nodes only support HTTP!)
