Coinexchange Crashed Because of RegalCoin OR Price Manipulation?
Boy I tell ya.
RegalCoin (REC) is the new copycat deal which touts itself as Bitconnect 2.0. Bitconnect is a lending platform where its members loan coins to an auto trader bot … I think. The members receive a daily percentage return based upon the previous 12 hours bitcoin volatility index.
RegalCoin does …. well I will have to research that later. I just had to get this out to you.
Crazy Stuff Happening with this New ICO and Cryptocurrency, Regalcoin. In the past weeks, there has popped up hundreds of facebook groups. The ICO started out for pennies and they controlled purchases so a few people wouldn’t dominate ownership of the coins. They would open the sale up with 180000 coins, for example, and in a matter of a few short minutes, they sold out.
Members were livid! This has been going on for about a month. So it was difficult to buy. They sold 5million coins from 85cents to just over $1.
Today is the first day it was listed on a public exchange … COINEXCHANGE
The Regal Coin price blew up to around $17. Then it went up to $25 – $27. Suddenly BAM! COINEXCHANGE CRASHED and was taken offline. Not only did it crash, someone or a group of folks just weren’t liking Regalcoin, so they may have contributed to this unfortunate incident.
The site is accessible (your wallet and balances) But you can’t access the MARKETS and thus NO Trading Can happen.
Of course I was not jumping up and down for joy about this because COINEXCHANGE is one of the smaller exchanges where I buy and sell cryptocurrencies. It interrupted what I was doing.
What type of exchange shuts down the markets and tell you they will have it up within 24 hours? Do you know what could happen in 24 hours in the world of cryptocurrencies? SHEESH, LOUISE!
Check this nugget out, though …
I was watching REC’s price party … That is NOT the WHOLE STORY! The Regalcoin (REC) cryptocurrency was quickly DELISTED by COINEXCHANGEBEFORE they closed the MARKETS.
I wonder if they saw some type of anomaly in Regalcoin’s 2000%+ price Increase OR was there some type of price manipulation going on?
WE WILL SEE when COINEXCHANGE cryptocurrency exchange and trading portal comes back online. It could have been a technical difficulty or a temporary delisting.
Nonetheless, I purchased at the final ICO price of about $1. I just wanted the volatile, risky, speculative, potentially lucrative coins!
Faith Sloan “CryptoQueenWiki”