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Polychain Capital has invested into 0xproject and own a significant amount of ZRX tokens. According to Olafs messages, Polychain Capital has been dumping quite alot of ZRX into the market, 6.6% at the time of his Slack message. His wording tells me that they plan on dumping more, and according to their wallet, they are.
The wallet on Poloniex belonging to Polychain Capital is this one https://etherscan.io/token/ZRX?a=0xead6be34ce315940264519f250d8160f369fa5cd
It still has over 116 million ZRX tokens, and is actively trading as seen in the event log. Sell walls keep popping up everytime an uptrend is present which I think Polychain is responsible for. I wonder if they will continue to sell the remaining 10 million tokens. It seems very unlogical to liquidate that much of their holdings in such a short timeframe, especially with the hype that ZRX is generating.
Anyone is able to shed more light on to this?
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>>3428631
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>>3428631
Elaborate PnD shitcoin. Look at its buddy, DNT. DNT is a platform that relies on people, unironically, wanting to build on it. Its success solely relies on this, and nothing is ever going to happen. It got pumped to $0.25 and finally corrected to $0.04 now.
Same thing happened with the stock GTAT. Their CEO sold his stocks before the news about their bankruptcy was to be announced to the general public.
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At least now I know why there have been absolutely insane sell walls since the second week. Literally never broke 0.0009 ETH since then, because the walls were fucking insane
You can look at Liqui and at any given time, there will always be at least 400 ETH, minimum. We haven't broken it since the second week because whales are accumulating - at least now I know which colossal faggot is the reason it's stagnating
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>>3428631
What happens when dipshits invest in tokens that have crypto VCs involved.
Crypto VCs will buy major chunks of the token incredibly cheap and fuck the fish raw.
That is rule 1 of ICOs, stay the fuck away from ICOs that give "early" investors a large chunk of shit on the cheap.
Look at Kin for example. 50 million worth of tokens at 30% discount. Fucking atrocious.
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>>3429916
>stagnating
Get a hold of yourself. The protocol isn't being used, it's literally in its infant stages of development. It's not "stagnating", it's simply in development. There are several large-scale platforms that intend to use 0x as the backbone of their exchanges, but it's going to take time to develop that functionality as the protocol has only been available to utilize for a month or two.
Polychain capital is doing us a service, allowing us to accumulate at low prices, while we follow the news and watch developments. Long term, the name of the game is steady, sustainable growth; if the value of the token explodes too early, it will inhibit adoption from other platforms as it will cost too much money to buy into a significant governance stake in the token.
Sit down, strap in, and just wait for the gains, or go put your money on OMG or some other dev platform that relies on PnD growth to garner it attention.
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