Bitcoin Forum

So I spotted this project originating from New Zeeland, ICO totally under the radar with veiled token metrics. Nobody in their right mind would enter.

This week it pops up listed on SingularX, a DEX owned by guess who.....Centrality!

Now, since this exchange is basically not trading any volume on anything, to my big surprise I see CENNZ trading with some volume.

Not only that, but it's trading at 10x ICO price (ICO was 11500 CENNZ to 1 ETH)! Now how is that possible for a totally unknown coin released in bear market?

Well, let's take a look at the order book. https://ex.singularx.com/exchange/CENNZ/ETH

Hmm, some large positions on the sell side of the book, and buy side thin as a leaf but somehow traded to 10x (it opened around the same price and never really moved, how often does that happen?). How on earth did it even make it to 10x?

Who ever is making this market doesn't risk very much by putting in a few ETH on the buy side to prop up the price. They are making the book on their own project on their own exchange!

Looking at the flow of executed trades gives further clues, the large trades are all on the buy side taking the ask from sellers, while the people selling to bidders are small. This indicates that buyers are taking their own sell orders (to make it look like they are prepared to pay 10-11x ICO), just circulating their own money.

Look out for these scams peeps. When this comes out on a larger exchange they will try to establish the price level based on the above to suck people into their rich quick scheme. There is nothing fundamental in this project that motivates this price level, artificially inflated by an unethical project. Always DYOR and invest in projects that are fundamentally good and doesn't use tricks like this.
 

you are on here now https://www.cryptopia.co.nz/Exchange/?market=CENNZ_BTC

Yes, but be careful in pointing out, as it is unfair to the company. The company has over 100 working members of the support and various partnerships. Just based on price build up it would be silly to judge whether the company is a scam or not. Agree, always do your own research, but do it good as Centrality (CENNZ) is solid as for now. I did some research and my summary would be that they are truly working on blockchain adoption which in favour.

I am not saying that this project is market manipulated , but manipulated the market is not a new thing and it had been done before a lot specially on DEX exchanges like Etherdelta where the manipulation is very easy . Most project that doing this is just project seeking to get listed on Coinmarketcap . So whether what you are saying is correct or not it is not a new thing .

11500 per eth? thats incredible. Everyone gets like 5500 per eth right now if it was sold on the exchange.

Centrality (CENNZ) (https://coincodex.com/crypto/centrality/) is now available on CoinCodex, you can add it to your portfolio!

https://i.gyazo.com/5d55fad66b0adb20566086dcbc358114.png (https://coincodex.com/crypto/centrality/)

Any coin traded only at its own platform have posibility to be manipulated so dont ever buy that coin before get listed at other exchanger. Too many coin manipulation now. And if still want to buy it make sure the coin price notabove 2x ico price. Look at aurora token its also only traded on their platform. Better to avoid such token / coin

this thread is so quiet, where can i contact dev for this coin, and where is the community?

I'm curious too. So strange for a CMC 65th ranked coin. Volume is extremely low too for such an high ranked coin. Any info anybody?

Hello Centrality believers,

Our aim is to add value to the whole crypto community by giving the best user experience to analyse cryptocurrencies.

It would be really great help from your side if you can spend 60 seconds of your time and give us your valuable feedback for our two recent updates 1) Snapshot and 2) Colourful interface of Centrality at: https://cointopper.com/coin/centrality

Constructive criticisms are always welcome at CoinTopper (https://cointopper.com/).  Thank you!!

Hello, I just noticed that Centrality is officially in partnership with amazon : https://twitter.com/centralityai/status/1009659064404492289
No wonder that the coin is rising so hard since yesterday.

This is not a big deal, certainly not worth tweeting about. There are hundreds of thousands of AWS partners. It pretty much means you use AWS cloud products, which in itself removes the integrity of an app being decentralized as a centralized organization would need to pay for usage. I worked for Centrality briefly and I believe they are a long, long way short of having the expertise to deliver what they believe they will. Tweeting about a working product or feedback from early adopters, that could be worth a tweet for investors but being an AWS partner?

Sorry for resurecting this topic.

I was casually checking on this project ( I am NZ based).

I just realized the project is #44 on coinmarket cap, I'm like WTF !!

Then i looked at the charts. And during the last week of September the daily volume was between $80 (yes $80!!) and $2,000 per day. And the total market cap about $14,000,000.

Then one week later, the daily volume is  $150,000 to $1,000,000 and the market cap jumped to $85,000,000.


Basically the price of a token was 1.6cents on the 29th of September and jumped to 10cents on the 4th of october.


I couldn't find any special news about it.
It looks like they are quite big in japan. But nothing special. 

Out of the 1,2 billions token, 500 millions are being staked (red flag to me).


Food for thoughts