Small status on NuBits.
We were telling you a few weeks ago about this value (NuBits) was an storage alternative when the USDT scandal (and which is not finished yet) was out.
We also stressed the importance of the risk of this one. It is a Ponzi pyramid, for sure, but allowed for a few days to be covered against the USDT.
Now, NuBits is falling!
Instead of staying at a stable value of $1 (at $0.95-$1.05), NuBits is experiencing a drop of about $0.5.
What an irony for a value supposed to be "the most stable on the market"...
So, what's going on?
NuBits, although supposed to guarantee a purchase below a certain threshold and a sale above it, no longer works. Their explanations are unclear. It could be to use that money to get them into the Asian market, but at the same time they lose their stability....
One thing is certain, they have removed their buying and selling walls, making the price of the coin completely at the opposite of the project...
This event could be the end of NuBits. Knowing Bittrex, they have no problem removing values, and that would probably mean the death of NuBits. Otherwise, a return to the $1 could benefit investors who like the risk, but given the difficulty, unless they find big capitals, it seems complicated.
What to do?
You like the risk? You think they're gonna buy the positions back and restore the normal value? All right, but be careful.
You don't like the risk? Then stay away from the coin!
Have a good day