Zano Price

[ketone 0]

@kwibs said:

I understand people's concerns and hope these insights and comments are valuable:

1. Since Zano is a hybrid PoW/PoS blockchain, users would rather stake their coins instead of trading. This naturally results in thinner liquidity.

2. Not all liquidity is on the order books; as the price moves, new orders appear.

3. Users can sell ZANO for fUSD through the Freedom Dollar website with $5000 USD per sell, and can repeat this as many times as they like. fUSD can be swapped 1:1 for USDT/USDC, also through that same website, or through exchanges they're supported on. https://www.freedomdollar.com/en

4. You can swap a whole 1 BTC for about 6500 ZANO through https://www.wizardswap.io/

As you can see, there are plenty of ways to swap decent sizes of ZANO both ways without moving the price too much. That said, there is plenty of room for improvement, and after HF6 this will happen through listings on DEXes like THORChain where we'll make sure there will be decent liquidity as well.

Thanks for the breakdown. With staking taking so much supply off market, do you think THORChain after HF6 will be enough to solve the liquidity gap or will we still need more CEX listings too?

[kwibs]

@ketone-0 I'm hoping the THORChain pool for native $ZANO, and the Uniswap pool on Ethereum for wrapped $ZANO will both be deep enough to take away any liquidity issues. They should serve as the 'main' liquidity sources. Additionally, we're hoping to get on NEAR Intents with decent liquidity as well, and achieve numerous tier-1 exchange listings via wrapped $ZANO.

All in all, I expect volumes and liquidity to improve significantly after THORChain integration and launch of ZEL.

[petrex 0]

Let's dee how the next few days turns out

[kwibs]

This won't change in the next few days. Hard fork 6 lays the groundwork for the changes we want. THORChain devs need to commit to integrating us, and we need to launch ZEL (Zano Execution Layer) first before $ZANO goes cross-chain.

[barryson]

I wouldn’t call it manipulation just from the price action.

ZANO’s liquidity isn’t exactly deep, so relatively small buy pressure can move the price hard.

[igreks]

@barryson You are right. And I agree mainly because I’ve seen similar thing happen to some tokens in the past months too

[ketone 0]

@kwibs Getting deep liquidity on THORChain for native ZANO and Uniswap for wrapped ZANO would be a massive win.

[ketone 0]

@acf If 1500 ZANO could push price that much at 9 to 10 dollars, and ZANO is now around $8.30, does that mean the books are still just as thin today?

[acf]

@ren888yin Absolutely agree with you. I don’t see how a whale could even buy Zano. You’d sky rocket the price. It’s an immediate deterrent for people with money. Someone rich is like oooo I really like this Zano thing I want to buy $25,000 worth of it. Then they see, I’d raise the price of it from $7 to $8.6, that’s odd let’s do 5,000 instead. And it is odd and makes Zano look bad. $25,000 is only 0.025% of Zano’s market cap yet would raise the price of the coin by over 20%, weird. I’ve looked through other coins at Zano’s market cap others don’t suffer this problem.

And I’m not a Zano hater I just think it’s important we point these things out.

[acf]

@ketone-0 At the moment it appears about $25,000 USD would raise the price of the coin by 20%. Zano’s price acts extremely strangely in the fact that you only need hotbit or MEXC to skyrocket and everybody follows because of the bot volume.

I’ve tested this myself one of the huge spikes back in late July was due to me and I’ll be honest with you it wasn’t $25,000 USD not even 20k and I myself raised the price of Zano by a $1. Well that’s all I’ll take credit for it seemed to go up even more after me.

[acf]

I meant ourbit