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CRB Tries to Hold its own During Cryptocurrency Market Volatility

by on July 19, 2017
 

It appears this will be a rather stale week for Creditbit, as not much is happening as we speak. There have been no development updates so far, and the price continues to hover around the US$0.42 mark. That latter part is rather remarkable, considering both Bitcoin and Ethereum are gaining in value. Unfortunately, CRB is losing value in both markets as we speak.

A lot of people are still waiting for the final release of the CreditDAO. This project will have a significant impact on the Creditbit community as a whole. Although this project was supposed to be finalized about a week ago, it seems the team is still working on the final touches. When the CreditDAO launches, is anybody’s guess for the time being. Moreover, we’re still awaiting for the team to reveal their real identities as well.

Another Slow Day for CRB Traders

All of this creates a bit of tension in the Creditbit community, although not the negative kind. People are patiently waiting for updates and more information. Sadly, these delays have a negative effect on the CRB price as we speak. One CRB is now valued at US$0.42, which is another 4.6% decline over the past 24 hours. Considering both Bitcoin and Ethereum are gaining value, one would expect Creditbit to see similar results. So far, that is not the case.

To be more specific, Creditbit loses value against both currencies at the same time. There’s a 4.95% loss against Bitcoin and a 16.1% decline against Ethereum. With the Bitcoin price recovering after a terrible weekend, other markets tend to follow automatically. So far, Creditbit is one of the few tokens not following this pattern. Then again, markets can recover fairly quickly, and there is no reason to despair just yet.

With a US$270,000 trading volume, things are still looking quite solid for Creditbit. DABTC has become the largest trading market once again, whereas Bittrex is now in third place. Chinese investors remain pretty bullish on CRB, which is good to see. Cryptocurrency markets are still in a vulnerable position right now and Creditbit is no exception. Things will turn around eventually, but it is clear CRB is a long hold right now. Patience is a virtue, especially where digital tokens are concerned.

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