Community post
The Power Down continues
Two weeks ago, we have initiated a power down of the underlying account @ctpsb. The reason was that the market maker was running out of liquidity because a lot of people were selling the tokens. This tendency has continued over the last week, and the market maker doesn't have much more liquidity than before. For this reason, the power down will continue for at least one more week but probably more than one week.
There is very little demand on the market for the CTPSB token at the moment and therefore the imbalance on the market in favor of people selling will probably continue. This isn't a big problem as such. The only thing that we need, because of the structure of this project, is time for the power downs to take effect.
Here the numbers of this week
| Assets | Amount | Increase over last week |
|---|---|---|
| Hive Power | 36116 | -209 |
| Tokens in circulation | 9046 | -75 |
| Burnt tokens | 2452 | +75 |
| Token value | 3.992 | +0.01 |
| APR | 13.1% | -0.1% |
Learn more about the CTP Swarm Booster:
Replies (5)
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STOPIt's too bad that there are so many people selling, but I think everything will be fine in your hands. You are ensuring the liquidity is there for them.
Not good if most holders are selling. Is there a way to increase demand and interest in CTPSB?
It's normal that sometimes people need to sell. It's built like that. It just takes some time.
I think that there are some people just need the money and get out of tokens. It's normal that trust in HE tokens has decreased, even if I believe that this token is probably among the better bets :-)