Add 8th decimal to LIFE trading at HitBTC to increase volume and liquidity.
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The trading of LIFE at HitBTC is currently happening only in 10 satoshi increments: you can either sell at 0.0000001 BTC or buy at 0.0000002 BTC. Other exchanges are trading LIFE with 8 decimals, which is opening the token to arbitrage and slowing its growth. Investors are discouraged to enter a market with such a volatility in price, as they should, and LIFE team has already asked for HitBTC to add the 8th decimal since January 17.
The team is starting a new marketing campaign this month together with the beta testing of their wallet and LIFE card. Both of these will probably raise awareness of this token and attract many more investors, and the community wants this issue addressed by HitBTC before more news come in, as we have already started to see the increase in marketing efforts coming from LIFE this month, such as the appointment of David Pugh-Jones (Global Creative Strategy Director & Global Sales Director at Microsoft for nearly 10 years, having also worked with other big brands such as BuzzFeed) as their Global VP of Brand. We will probably see much more, as the team has promised a dramatic marketing campaign is coming up.
This token has already hit a market cap of 96 million dollars and 24h trade volume of 24 million dollars in January. Now its market cap is around 15 million and 24h volume around 200,000 USD, and a lot of this decrease in price and volume is due to this decimal issue that effectively makes LIFE trading at HitBTC much harder and less appealing. Most in the community feel that LIFE is too undervalued to sell at 10 sat or even 20 sat, and so are not trading and not generating revenue to the exchange. Many others placed sell orders at 20 satoshi, creating a sell wall at 20 sat, but would sell at a few satoshi less, possibly melting the 20 sat wall and allowing growth again, which is very likely considering the news the community is expecting for this month and beyond.
Therefore, we ask that HitBTC solve this issue as soon as possible to allow LIFE traders to resume their trading, increasing liquidity and volume while generating more revenue to the exchange.
Disclaimer: This petition has not been endorsed by LIFE team.
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