With around 80K members on their TG channel, QuarkChain has been one of the latest most hype ICO projects out there. A large and confident team promising to alter the crypto world with their technology things were promising a lot lately.
They had so many requests to invest that they had to make a lottery which was not only based on KYC but provided people with a test based on all the available information on QuarkChain to filter out. Only those with an almost perfect score were able to participate in the lottery.
This also happened due to QuarkChain attracting so much interest from private investors who provided the project with all the needed funds before ICO. As you can see above, they had a hard-cap of "only" 20 M, from which 16 M sold on the private sale. Only 4 M is theoretically available for trading now, which makes this a easily manipulated coin. The liquidity coming from the private sale may not hit the open market for a long time, no one knows what the conditions are for those buying with preferred statuses, e.g., lock-up period.
Another closer look at their sale makes us realize that there is too much hype but low liquidity. If you see the graphic, you can recognize that only the USD 4 MM in Quarkchain is theoretically available today for trading. This is a highly volatile token we may agree.
A stunning 35% of the token availability will be off-the-market for minimum two years until advisors, team, and foundation can trade them. To that, add the big tickets sold in the private sale, which the lock-up period was not disclosed, but assume a minimum of six months to one year.
The hype is so big that is expected that any exchange taking the risk of listing this coin will create an artificial market price. So far is being traded on IDEX were many speculators (no better word for someone selling on day one) claimed to have made profits as high as X12 from ICO price.
The chart above belongs to IDEX were the price, by press time, is up at around 109% intraday (0.00034501 ETH). Also, the volume has risen to about 3500 ETH, or just USD 2.124 M, which is nothing compared to the daily amount of any other coin on the top 100 from CMC. Still considerable for being their first listing day.
Today, Binance announced early on that was listing QuarkChain on Binance, and then the moon story began. A quick look at their TG channel gives you an excellent perspective on how things are for those people. From Moon and Lambo kids to FUDsters, you can see it all in there. That is only if you can cope to reading ten messages a second if not more, for a chat of 80K users is hard to keep up the pace.
Still, Binance walked back on their decision and announced later that due to the low liquidity of Quarkchain coins they would need to postpone the lunch until further notice. The channels to fund the Binance acc. with Quarkchain are still open, so if you are planning on trading through Binance you can even do it, and wait until there are enough funds.
Idex, though not as popular as Binance is a decentralized exchange for ERC20 tokens, a reason for which is not that important to have enough fundings of the coin, since the trade happens c2c.
An excellent question to do, what is the next step? After that amount of Hype, the FOMO is too high for everyone, but considering that a large chunk of the supply is locked from one to two years, you may want for water to settle down a little before pressing that buy button. The price looks to be now at 89% above open, but there may be a lot of room for a correction, as other traders realize the price may stagnate until further news come out of Binance.
We will keep a close look at this new kid on the block. See if the hype has any relation to deliverables or is pure crypto speculation.
There are still a few days until the 
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