Why did UTC drop after hitting cryptsy?

[$40]

I can't figure it out. After such a strong showing over the last few days and a devoted following determined to get it on cryptsy, why would it drop? Is it stabilizing in anticipation of a jump? Seems likely actually. Anyone have any theories?

[kalus]

coin was dumped when it hit an open exchange.  whoever dumped their stockpile used the "devoted following" as free labour.  

this is not unique to utc:  the announcement forum is a huge pump-and-dump altcoin graveyard of the same stories. 

[cryptohunter]

didn't look like it had great origins to be honest.... we paid 40 btc to clone TIX kind of thing was always a red flag.

[XbladeX]

I can't figure it out. After such a strong showing over the last few days and a devoted following determined to get it on Cryptsy, why would it drop? Is it stabilizing in anticipation of a jump? Seems likely actually. Anyone have any theories?

Ahh those x% premine for "promotion" probably founder tried make discount to 1sat when all buy orders were filled.
So main founder made his promotion and sell all to 1sat.
Cryptsy probably won't support scams.

[feomat]

cause cryptsy is a coin killer..

[$40]

Thanks for the insight. I bought $200 worth of UTC halfway through the pump when it was around 150%+

 Should I get rid of it or maintain it?

[warlogna]

Thanks for the insight. I bought $200 worth of UTC halfway through the pump when it was around 150%+

 Should I get rid of it or maintain it?

If you're up, I'd dump it now.
I see no long-term value in UTC. The reason it went up is because A) It was already going up and B) It was about to hit Cryptsy.
Neither are true anymore.