[Xangle Insight] Cosmochain to be Delisted from Coinone Exchange due to Lack of Trade Volume
- 90% of trade volume at Upbit (7% at Coinone)
- Cosmochain now preparing for new listings
- Company announced a profit Q2 last year
https://xangle.io/project/home/COSM/dashboard?link=JiHFIq
[Jan 20, 2020] According to Xangle’s on-chain data, Coinone is responsible for 7% of Cosmochain’s total trade volume, worth around $11K USD at the time of the announcement. Upbit’s trade volume of $147K USD represents 90% of the total trade volume of Cosmochain’s tokens.
Coinone issued a warning about Cosmochain on 29th of November last year, citing lack of trade volume as a risk to investors. Coinone gives projects 2+ weeks to turn things around, and today’s announcement comes following a lack of improvement.
Cosmochain team stated that despite their best efforts to improve the situtiation at Coinone, even airdrops and token swaps did not help turn things around. Cosmochain extended their gratitude to the Coinone team, thanking them for an extended timeline during which the team tried their best.
Meanwhile, Xangle’s data shows that Cosmocoin made a profit of 33,800 USD in the second quarter last year. They are constantly announcing buy-backs and token-burns, with the intention of keeping the price above a certain level.