The Giant team is ready to comment on the latest events.
The Giant Coin (GIC) price fall will not affect the development process at all. We believe that crypto projects must not be judged by the price of related digital assets. The current exchange rate of GIC is suffering from volatility and cannot resist the shorting manipulations. It’s something that’s already has become inseparable from the crypto market: the majority of investors want to quickly return investments and become caught in the FOMO cycle out of fear. Some of them have a wide investment portfolio with funds put in many projects - and they can easily withdraw them at any time. Unsurprisingly, such investors don’t have neither time nor qualification to research each project separately.
We would like to tell you about the possible consequences of the Giant Coin price fall that you might be imagining right now.
The holders of cheap coins have only personal goals. When the growth phase returns, they may start to get revenue and sell assets through the buy book instead of layering their orders. This factor may become an additional obstacle for the future bullish trend. This aside, you might assume that the Giant developers may have a lesser motivation to develop the project further.
Let’s immediately see what’s wrong with these two potential outcomes.
When the trading volume is low, rise or fall of the price can occur multiple times after selling or buying an extremely small quantity of assets. The future growth will be driven by the natural demand for the coin. As for the team motivation, we would like to remind you that we have started our work long before the first bits of Giant.Exchange were even published and all along we used our own funds instead of holding an ICO. Since the development launch, our commitment to continue working has only increased. We are not going to abruptly end the project after all that we’ve done, as we still believe in the project potential and our own capabilities to implement it in practice.
What is much more valuable for us is the community dedicated to the project which indeed helps us to receive a feedback and make the product better even before it’s created.
It’s an objective reality, however, that the majority of people don’t read the code, don’t look through the articles and, at best, follow the major announcements on Discord. It’s even understandable, as there are so much other projects around. This means that the marketing of the developed technology/product will be much more efficient.
This aside, we would also like to remind the readers about the history of Dash and PIVX - both these projects have been mere cryptocurrency forks for a long time, but the actual release of their own tech solutions has made them both much more capitalized. And this is exactly the scenario the Giant team pursues. Until then, Giant Coin may still be vulnerable to manipulations and shorting.