XCM Liquidity & Growth
by Kaimil S
Wow, what an end to 2020 and what a brand new start in 2021 for us.
CoinMetro has grown 60x in January 2021 compared to January 2020. In addition to this you’re probably already aware that we’ve also sold out our CoinMetro Bond offering and raised €2.5M to further fuel our growth.
Now as XCM, our platform token is what fuels our platform, naturally the demand for XCM is rising rapidly as well. XCM has moved from €0.03 to hitting €0.19 in January 2021.
Therefore, CoinMetro is happy to announce the XCM floor price has been moved to €0.12!
It’s a big day for our loyal ICO contributors! This reflects the final price from our Initial Coin Offering back in 2017 when we started this exciting company. All of our original supporters are now at least break even, or see profit, from their initial investment into CoinMetro & XCM.
We’ve got so much more in the works and some massive updates happening this year. 2021 is the year of XCM.
Over 7,000,000 XCM tokens have been locked on CoinMetro already, and growing on a daily basis!
We’ve got overwhelming support from our investors and we’re working together with them and the community to boost our growth even further. We have big plans for this year, we are looking forward to the bright future right ahead of us!
After seeing the price of XCM rise well beyond the ICO tiers and reach a new high of €0.199 recently, confidence in our utility token is growing as well. New users have come onto the exchange and found their new favorite token. As well as their new favorite place to trade cryptocurrency! This has kept the price above €0.12 for 20 days now!
The order book has become very robust, with high levels of liquidity. With this tremendous improvement, the price has naturally found a new floor at this level.
What does this mean exactly? Traders will no longer be able to place any buy or sell limit orders below €0.12. In addition, our incredibly supportive investors have placed €500,000 in buy orders above this new floor level to underwrite the price.
All clients with buy limit orders under €0.12 have been contacted and provided with 48 hours notice to remove/amend their buy orders to the new floor price or higher.
During a 48 hour window starting from 16:00 UTC on Monday 1st of February , users will still be able to place sell orders (market/limit) under €0.12. This is to ensure that any XCM holders who need to sell are able to exit the market even at the lower price. At 16:00 UTC on Wednesday 3rd of February, any remaining buy orders under €0.12 will be cancelled by CoinMetro.
XCM Staking will create the opportunity for passive income and will remove even more XCM from circulation with hard-locking. There will be multiple levels of XCM staking rewards available based on our existing tiered system, with the hard-locked XCM being optionally available for use as collateral on the Margin Trading platform.
We are always looking to protect our clients and ensure there is a healthy trading environment. Over time the limits will be increased further with a long term vision to remove all limits as liquidity and volume grows.
We’re excited to be on this journey with all of you and look forward to what this year brings.
Onwards to build the future of finance!
The CoinMetro Team
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