So it’s been one week (ish) since Red Pulse hit the Kucoin exchange. I don’t think it quite lived up to the hype that was expected. But with news of segwit2x on the horizon, and China not lifting the ban on ICO’s/Bitcoin exchanges it was to be expected.
1- Upon hitting the exchange it pumped to around 0.000016 SATS ($0.10-0.11 cents) congrats if you exited your position, this was about 3.6x ICO price (ICO at $0.027 per rpx).
2 -We stabilized around 0.00008-9 SATS ($0.06) during the week.
Today we now sit fairly close to the ICO price as of writing this.
Exchanges
In hindsight this was overhyped, being Neos first ICO! People expected far more when it first hit the exchanges. We all thought it would hit Binance exchange first, as Red Pulse themselves had made it clear they were in close association (later removed). Instead we ended up with Kucoin, a great exchange but its not the Binance we expected. As a result we had less traffic/volume than expected, which inevitably drives price action.
I don’t want to bash on Kucoin exchange to much, overall I think they did a great job. One of the only exchanges willing to invest the time and resources necessary, to implement the brand new NEP-5 standard that is required to list RPX tokens on the exchange!
However the site did crash several times during the launch phase of RPX, if traders wished to exit their RPX positions they were unable to do so. Kucoin later came out with a statement apologising and offered everyone 5 Kucoin coins (KCS) as a good will gesture. I think this is an exchange to watch in the future, they are the first to add Neo/Gas pairs, as well as having some of the lowest trading fees around, and a solid referral programme.
Going forward? New Exchanges? When Moon? When Lambo?
As of now there is still no RPX token wallet, so some people are forced to leave the tokens they have purchased on the exchange. This is hoped to be resolved by the end of the week.
For RPX tokens to be listed on new exchanges, they need to program a new standard into their sites that support NEP-5. This means new listings, might be a slow process… and not every exchange will be willing to invest the resources necessary to host RPX tokens.
On the positive side…
Staking RPX aka POS (proof of stake)
This has me excited, in Q1 2018, red pulse will launch its beta platform that will allow you to stake your tokens. They will mint 10% new RPX tokens each year. Which will be divided among staking RPX holders. Your share of these new minted tokens will be calculated on your stake amount, at the end of each month.
This should drive some demand and hence price for RPX in the future.
If you would like to purchase any Red pulse (RPX) please use my referral below, they are only traded on Kucoin currently.
https://www.kucoin.com/#/signup?r=E3JRU-
Thanks for reading