A week after Binance trading started with a bang, QTUM market prices are showing weakness again.
The QTUM project has all the potential signs of success, and yet its price continues to exhibit weakness. QTUM slid by more than 23% in the past week, down to $14.60. The asset is down 9% in the past day. What is more, trading volumes have dwindled to new, lower levels after the incentive of the Binance competition stopped affecting the price.
The other pressing problem for QTUM is the renewed support by the Exodus wallet. QTUM was part of the Exodus portfolio, while it was in the token stage. But after the launch of the main net, the technology caused logistical issues, and there is no set date for support.
The Exodus wallet recently expanded to a wider range of assets, and in the case of QTUM may increase visibility. More owners would get on board through the Shapeshift built-in option.
Right now, QTUM is mostly getting its price levels from trading in Asia, and remains a lesser-known platform.
QTUM Getting its ICOs
The one advantage of QTUM is that it is slowly gaining an ecosystem of projects, and is used in token sales. The Vanywhere (VANY) paltform for hiring experts will be using the QTUM network.
The QTUM network itself has completed its funding, but in the coming years would increase the supply of tokens. A few million tokens were released in the past months, with the potential to be sold on the open market.
QTUM was seen as one of the most promising platforms, easily reaching the levels of NEO. At one point, QTUM indeed traded around $70, but has slid dramatically since then. Now, the project will have to show its real-life utility, and possibly needs more time to regain higher price levels.
After the January and February corrections, QTUM has, in effect, traveled back in time, at least in terms of dollar prices. For months, QTUM drifted a bit above $10. Still, QTUM has lept its levels in BTC prices. QTUM has no fiat-based price discovery, beyond a pairing with Tether (USDT). The most active trading remains against BTC, and that defines the dollar price.
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