someone is in a hurry to get out of SDC. who knows something the rest of us do not?
Not "someone", but the big talkers, the loud mouths on this forum. Since the zk announcement, pookie and longandshort disappeared along with another few aggressive ones. They are steadily dumping.
They appeared only when they thought there will be big gains for them trashing everything in their path and hurting shadow in the process. Zk implementation didn't rise the price for one reason or another so they are dumping. But that's good. This gives the chance to other traders to buy SDC and leads to fair distribution. Once these loud mouths - big holders are gone, only then Shadow will prosper. Shadow needs traders and newcomers.
My respects to all the other members/traders.
There was a rise in SDC's marketcap from the Shadowsend release and there was also a major dump that stopped it.. If you didn't know there was something like 300,000 SDC stolen from the IRC tipbot back in December and those coincide with the dumping from 40k down to sub 20k right after the tipbot went missing in action.
Yes, I know about the incident. I'm a SDC daily trader and I follow the forum. I hold only about 10,000 SDC bought at .16 just in case.
The "problem" is that there is a pattern in trading SDC, which for me is good, but it doesn't help SDC at all.
Any time SDC is rising up to .24.25 or above at the same time a dump is expected and goes back to .17.18.19.20.
The price is not allowed to progressively rise. It is being stopped by the dumpers. So until know SDC's price is a reflection of the big holders-dumpers....nothing more.
It's a rule! It happens all the time, so until now it made me a lot of btc. I can't say the same about other coins.
This one keeps on being traded and the volume is ok but unlike other coins it never passes a certain barrier(very very rarely), which is a pity because the price of this coin should be at least 10 times higher...to start with.
Just to mention. This coin is not being dumped out of fear like other coins. SDC is dumped because of the big holders' need for cash.I'm not in love with any coin, but I can say that SDC has a great potential...better than almost any other coin.
The coin can't take off in style, because there are big holders in need of cash dumping regularly when the price is rising a bit.
Too many big holders !!!!
However I'm sure it will settle in time. Probably some of the big players are almost out of the game and new traders are in.