QKC's post-mainnet price action leaves the crowd confused, frustrated
Quarkchain’s Mainnet V1.0 “Singularity” has launched at 23:59 PM Beijing time, but QKC’s follow-up price action has proven less than impressive.
According to the project, Singularity is “one of the first public chains that successfully implemented state sharding technology in the world.” If you’re interested, the Quarkchain announcement goes in depth about the mainnet’s design concept, its technical configurations, ecosystem, as well as the future roadmap.
In a recent interview, Quarkchain’s Chief Marketing Officer also claimed the project has already successfully onboarded several enterprise-level clients to the platform:
“The biggest one is already implemented, and we’ll be able to share in a few months after the first readouts.“
All of this, however, has failed to translate to a significant uptrend for Quarkchain’s native coin. In the 12 hours since the announcement, QKC has mostly continued to trend sideways, and is actually down 1.6% for the day.
Not one to temper expectations, the crypto crowd was vocally disappointed:
The hype around the mainnet launch was initially fanned by yesterday’s Quarkchain AMA, hosted on Binance’s main Telegram group.
In fact, we’ve seen occasions in the past where a Binance AMA was reason enough for the project/coin featured to record significant gains shortly thereafter.
For QKC, however, it was not meant to be. The coin has been on a steady downward slope for much of the past month, with its current price levels second only to the all-time-low recorded back in August 2018.
Looking ahead, Quarkchain is set to host a mainnet token swap in the near future, more specifically “after the mainnet runs stable for at least three months.“ Given Singularity’s immediate impact - or lack thereof - on the price of QKC, perhaps the swap will have better luck breaking the coin's downtrend.