So was the "launch" of the exchange the last-ditch effort to create some hype to dump the rest of the premine? Sure seems like that looking at the price-action over at Cryptsy...
Game over for this coin?
https://bitcointalk.org/index.php?topic=267301.0Two statements were made in your post, and both were made ignorant of facts.
This exchange was announced pretty much immediately upon the coin being released. The exchange has been in alpha testing for awhile, and has just recently moved into beta.
The price at cryptsy dropped so hard, because middlecoin.com mined the hell out of PXC yesterday as it shot to the top of coinchoose. middlecoin.com then dumped every PXC it mined yesterday, massively driving the price down.
The drop in price of PXC has nothing to do with PXC or the fundamentals of PXC. The drop was a result of it being the most profitable coin to mine yesterday, one particular pool amassing a ton of PXC and then dumping them all immediately.