Bitcoin Forum

https://global.bittrex.com/Market/Index?MarketName=BTC-XTP

Tap recently conducted a Micro Token Offering on the STP platform (https://tokenprotocol.io/) and was then listed on Bittrex. Initially, the trading pair was quite calm, however, shortly after it started experiencing a massive surge that is already in the north of 2000%.

https://medium.com/stp-network/micro-token-offering-mto-6-5ab93f8c022f

The spike was only able to hold at $0.2 and then some dropped again so it was not strong in the pump and finally dropped back to the current price of XTP $0.14 with a decrease of -10%.
Is it just a type of manipulation and with rising prices it doesn't last a single day and XTP has just been listed at Bittrex just not planning on another exchange so it's hard to pump it back up.

Does this really say anything about the long term fundamentals of this token? I doubt it.

All tokens, when they initially get listed on an exchange, especially one the size and influence of Bittrex, will get pumped. Granted, this token got pumped significantly harder than what most people would expect of a new coin, but honestly that is nothing out of the ordinary if you scroll back to some historical data of certain very volatile new coins.

So yeah, don't get too excited just because of this one-off event.

For a minute I thought this was Taproot and thought what they issued a token for it? Thought it was sidechain token haha.

Anyway, I've stopped viewing Bittrex as reliable after their IEO period last year (listed so many IEOs and then delisted maybe half of them suddenly?). That tells me they just asked for payments and then removed them, kinda shady behavior don't you think?

So some random token (micro token what's that?) isn't going to catch my attention!

look at the first listing, and you will know that this coin can hold in *high* price
you just use small TF so you conclude like that, you even dont use high TF, in which high TF is more important to see
at the first, I also doubt if there is any coin can hold high price in early listing, but this coin makes me think different

But lately many tokens when they listing in the market often the price be dump. There are rarely tokens that are Pump moreover, it can reach 2000%. But I want to remind that do not buy when the price of Pump like that, because it is very risky, you can lose your assets in an instant.

XTP is still in the early hype and no need to say a lot .We will see what will be happening to the price of XTP next months. The pattern of XTP is very similar with the pattern that already happened with STPT. I guess the dump will occur when the market will have started to enter the depression trend. That will be happening very soon. STPT was getting pumped 9x from the ico price and then it gets dump just in a month after that below the ico price.

I also expect that XTP will suffer the same fate as STPT maybe at the beginning they will be pumped significantly so that many glances continue to buy it traders think there will be more pumping at this rate, but is that possible and who is the dump in time? 1 month the price went down worse, is this a team manipulation??

20X in a day, that is huge. The main issue is not the initial pump but the long term price action, just go and see quarkchain, it did 23X on day one and now the price was around 35sat. if this coin follow the normal pump and die then it is not different from the usual scam coins in the space