Feb 24, 2018: SCC network and trading officially started today. SCC is trading on Shuzibi, a Singapore based new trading platform.
MacroSQL’s investment firm said just the day before that it is sure to have a market maker. But fail to sign up any market maker or fund to support SCC trade just before the trade started. Those accumulated ICO coin buyers in the last four months, are rushing to sell at almost the same time. Causing the number of sellers far out pace the buyers when trading start. The first batch of sellers sold for less than one cent and the price recovered to about 20 cents since then. MacroSQL CEO also apologize for not preparing more than one market maker.
Just as the graphic, the number of seller (in blue) will decrease with time; while more people will know SCC and the number of buyers(in red) will increase with time. Once there are more buyers than sellers, price will increase. In the meantime, the speed, cost and security advantage of SCC will also attract more fund managers.
MacroSQL advise customers have some patience and avoid all trying to sell at the same time, when the exchange are too new to have any buyers coming. In the meantime, MacroSQL is also working hard with exchange to increase the marketing while waiting for joining other more mature exchanges.