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Binance reports QuarkChain (QKC) extreme price volatility

Binance re-opened trading for QKC/BTC and QKC/ETH trading pairs since 2018/06/05 4:00 AM (UTC). Just now the price both in QKC/BTC and QKC/ETH is about $0,24 (12x to ICO price). But there was only 3.61% of the total supply of QKC tokens in circulation at the time of listing. The total supply is 10,000,000,000 QKC. And this is the reason of probable price volatility.

As the team of QuarkChain reports, for a month token circulation supply will double to 7, 71% (770,500,000 tokens). And it will be growing somewhere about 3% a month and will reach 22.93% by December, the 4th. Mainnet is planned to launch in January 2019, and mining rewards will be added to circulation supply than. So it’s hard to say now what part of tokens will be on exchange after that.

Observers stated that QuarkChain moved locked tokens to Binance for mass dump. They said: “Even Quarkchain’s own team believes in Bitcoin more”.

We will see. Be tuned.