I bought a small amount on Poloniex some time ago. The BitX environment strikes me as innovative and forward-focused.

However, the volume of BitCNY on Polo is dire. Amazingly, today there has been volume of almost 1 BTC. Usually it is about 0.2 BTC.

Can anyone please tell me what is going on? Why is this coin so under-appreciated? Many thanks!

There are so many Alts that are on Poloniex, only a few will actually be sucessful, some might be good ideas but too late to the party, others are just scams or trying to get involved in the boom.

I don't know about BitCNY (rubbish name by the way) but unless something serious happens, with less than 1 btc volume per day, it will be hard to see a big price increase coming.

Thank you for the explanation. My impression then is that there is no "rational" or "logical" reason why BitCNY or BitUSD should be cited on Poloniex. In terms of the "big increase", I would note that, according to Poloniex, the monthly price range from 13,333 to 244,394 (with two spikes) which shows some kind of actionable price increase. You can see this if you look at March 18 and March 20. I'm curious as to why (if there is an obvious reason) these spikes occurred? Thanks again!

The point though is to try and keep the price of 1 bitCNY at 1 CNY?

So at 2700 CNY per bitcoin, $400 a btc, a person can spend 1 btc and buy, very roughly, 2700 bitCNY?

And if the price of btc doubles to 5400 CNY then the price of bitCNY, in btc, will drop 50%?

It looks like somebody figured out a way to use "assets" to con noobies.

1) A person buys 0.1 btc worth of bitCNY when btc is at 2700CNY or 400USD.

2) The price of bitcoin doubles to 5400CNY or 800USD.

3) The person's 0.1 btc investment is now worth roughly 0.05 btc, they have lost 50% of their bitcoin.

It's a shiny suit and tie scam to suck money from people who don't understand what they are buying.

"See. That wasn't so hard to learn now was it?"

BitAssets (bitUSD, bitCNY, ... bitGold) are designed to track the price of those "real world" assets without counterparty risk on the blockchain.

So think of them as financial tools.  You can switch your exposure to price movements in 3 seconds by trading between them.

Think of BitShares as a special purpose currency factory that offers a way to create a variety of useful hybrid "smart coins" that breed desirable features from multiple currency strains.  Some are trustless.  Some engineer blockchain-assisted trust.  Some represent real assets mapped onto the blockchain by trust alone. Others are stable with respect to external assets that may or may not be stable themselves.  Some are deterministically self-contained mathematical constructs.  Others extract order from the unpredictable external consensus of generally clueless people.  Our industry is generating a Cambrian Explosion of new coin species. 

So, when you evaluate any particular coin, you shouldn't be comparing it to some preconceived idea of what your ideal one-size-fits-all universal coin should be.  That's like saying everyone should standardize on a single retirement mutual fund.   The blockchain world has moved waaaaaay beyond that.

I get the cynicism.  At the end of the day someone must buy these tokens at stated face value.  
"deterministically self-contained mathematical constructs"
The determination is self contain IF AND ONLY IF large lots of these pegged tokens can move large lots of value at stated value.

But crypto really, honestly needs these pegs.
"So think of them as..."
Yes tools.  You can trust your $usd in a bank account, a MtGox account, BitAssets account, or a Nubits ledger.  But your going to need to trust someone until you convert your $money into physical gold or silver.  Everything else is credit, so was once said.

These virtual gold, silver, CNY, USD, EUROs are need in crypto to port value.
So yes again, they are important tools.

Hold them like a hot potato, pass them quickly for someone else to hold.

I personally would use them to move fiat value from exchange to exchange.  And opening a fiat/crypto pairing can thus be accomplished with these virtual products.

Long term there will be a DAC or DAO, depending on their motives, that becomes widely trusted with these kinds of products.  There will likely be depositor insurance, and small interest yields, and function just like a bank account less the overhead.

But for long term storage of commodity money.  A greater revolution is needed.  These virtual gold, silver, CNY, USD issuers are going to have to actually hold in a vault the real physical product.  Which is a legal stick icky spot to stand.  But some one will build it, and they will come.

no coins (even BTC) lack the precision to move fixed amounts
but agree on the past marketing
personal experience with PTS or whatever it was; was not pleasant 

Thank you for these helpful links.
I believed them and participated in the airdrop, but now I think it's just another SCAM
  They didn't even announce it here on the forum

A coin can be undervalued for several reasons:
the first and foremost is that the organizers of the project do not have any authoritative past, because of this people do not trust this project.