Six months ago, BRhodium’s MainNet launched, mere weeks before the “SV attack” yielded the last, vicious phase of the crypto bear market. At the time, it’s hash rate struggled to rise above 1.0 TH/s – at times, falling below 0.1 TH/s. Not that fast transaction speeds matter much in a pure store-of-value coin, of course.
However, considering that XRC’s network hash rate is consistently around 5.0 TH/s – having surged from 4.0 two weeks ago, when the Chinese FatBTC exchange launched XRC trading; it’s amazing to consider how far the project has advanced. This, as the crypto bear market continued until February, when prices finally started moving higher.
Given XRC’s nascency; and at times, low liquidity; it has had high volatility during this period – rising to .008 BTC in December .006 in March, and .01 in April; and in between, declining to .001 for a day, and then .002. On average, the BRhodium price has been around .002-.003 BTC, with the aforementioned price spikes ALWAYS on high volume; and the declines, ALWAYS on low volume…nearly always on weekends.
BRhodium’s list of fundamental achievements over this period is long, and broad – from stabilization of the mining network, to record high hash rate; public code release; listing on five exchanges; Trezor code acceptance, coinmarketcap.com listing, the first Strong Hands dividend distribution (and conversion of the program from annual to quarterly); and translation of the website into Chinese, Russian, and Turkish. This, as record numbers joined XRC’s Discord community, and a new crypto bull market commenced. And I assure you, many other catalysts are on the very near-term horizon – like new mining pools, Trezor’s firmware update (enabling XRC storage), and privacy features, and the upcoming quarterly Strong Hands snapshot.
Following the April 14th surge to .01 BTC, or roughly $50/XRC, the price has several times declined – again, on low volume – back to .002 BTC; i.e., the trading “battlefield” representing the low point of XRC’s average trading range since MainNet launch. The past two weeks, intense defenses of this level have occurred – both times, on weekends. This, atop the aforementioned fundamental accomplishments (with numerous other positive catalysts on the near-term horizon), led me to suggest yesterday a permanent floor is being, or has been, established at this level; i.e., a $10 million market cap using Wall Street accounting - and likely, $6-$7 million using coinmarketcap.com’s “crypto accounting” (thy will update this aspect of XRC’s listing shortly, thus enabling market cap ranking).
https://twitter.com/Andy_Hoffman_CG/status/1124274971633565697
As I wrote yesterday, given that in my view, BRhodium has a brighter fundamental outlook than 95% of altcoins – as a niche store-of-value coin; I find it difficult to believe 17 months of work building code, community, and this amazing, unique coin – can be worth less than $10 million.
I mean, at .002 BTC/XRC, huge amounts of an extremely scarce resource can be bought for tiny amounts of BTC; and conversely, very little BTC can be procured from selling huge amounts of XRC. Keeping in mind, of course, that investors wealthy enough to have acquired large XRC positions are the last likely to be dumping them; let alone, when nothing’s wrong - and its extreme undervaluation, amidst a burgeoning crypto bull market. Heck, there are HUGE bids on all three exchanges at .001 BTC/XRC, which is barely lower than the current market of .002-.0025.
https://twitter.com/Andy_Hoffman_CG/status/1124353543505244160
Markets can do anything – but in XRC’s case, it’s risk/reward profile appears to be as strong as anything in crypto. I believe strongly .002 is the bottom – and those paying attention on yet another low-liquidity weekend; at least, for now; have an opportunity to acquire a lot of a high quality asset, for a little!
BRhodium currently trades on p2pbp2.io, Trade Satoshi, Fat BTC and Bisq. If you have questions about anything XRC-related, including OTC trading, please email me at ahoffman@cryptogoldcentral.com, or DM/PM me on Twitter or Discord.