Yesterday Raiblocks was listed on KuCoin, right under Binance's nose. Raiblocks already has $13,310,500 trading volume for KuCoin's XRB/BTC pair. Clearly everyone went nuts! The price has been moving sideways however.
THE FLOW ON EFFECT
I've been using KuCoin for a while now. They're my favourite exchange when it comes to Altcoins. Therefore, I've been holding KuCoin Shares since 0.40c. Since Christmas KuCoin Shares have moved from that 40c to around $9 at its peak.
When Raiblocks was listed on the 5th, KCS was holding at $6ish. Since? They've rocketed up to $10 in the last 24 hours! What!?
WHAT I THINK HAPPENED
A whole bunch of new customers would've gone to KuCoin and signed up once they knew that Raiblocks was listed. From there they bought their Raiblocks, then stuck around for a while. They probably realised how good the platform is, and then they bought a metric shit tonne of KCS! They want that dividend created from KCS and perhaps want some capital gain on it too.
WHAT THIS MEANS
For me it means I'm making more profit. For you? There's a pattern, or phenomenon I believe we can take from this.
Super hyped coins can have flow on effects. Raiblocks was hyped to all hell! I mean shit, I've never seen such an exuberant run in the whole time I've been in Crypto. If there is a super hyped coin about to be listed on say KuCoin, or Binance (exchanges that provide dividend tokens) then the influx of new users to that platform will increase said dividend token, pretty simple.
Take this onboard when another super hyped coin is about to get listed on either of these platforms. A much more profitable move is to buy the dividend coin before the hyped coin even hits the exchange. If you'd done this with KCS, you'd have made more money than buying Raiblocks!
Binance is yet to officially list Raiblocks. Maybe it's a good time to buy some Binance Coin? Personally, I've locked in my positions for January, but test it out if you can. I think it'll pay off.
Thanks for reading :)