CAIx Bounces Back After KnC Titan Delivery Creates Buy Pressure on Exchanges

It has been a while since we last saw an important announcement from the CAIx team, and as a result, the price has gone down by quite a bit. Of course, the MintPal fiasco didn’t help matters much either, so there’s that. There is some good news though, as the long awaited KnC Titan ASIC miner has finally been delivered!

When the CAIX team announced their Profit Sharing Program with the world, a lot of investors were over the moon about the potential profit margins coming to CAIx. After all, the original plan was to receive three KnC Titan ASIC miners, all of which would be pointed to the CAIX multipool, in order to create buy pressure on the exchanges.

Ever since that announcement however, things started to fall apart, as it later turned out there would only be one KnC Titan, instead of three as originally announced. This lead to some disgruntlement from the investors, and a few people sold off their CAIX.

While KnC kept delaying their shipment dates until the last possible date (according to their ToS, the end of September was the final day on which at least a handful of miners would have to be shipped to customers), things also went south with MintPal , which I’m sure all of you know about by now.

To cut a long story short, things have been rough for CAIx holders over the past few months, but there is a light at the end of the tunnel. With the KnC Titan being delivered, and currently hashing away on the CAIx multipool, there is a certain buy pressure on the Bittrex exchange. And as usual, there will be people trying to play the daytrading game, so don’t be shocked when you see some massive sell orders as well.

It will be interesting to see how the CAIX markets will react to this constant buy pressure over the next few weeks. But there is more good news, as there will be a new wallet coming which includes a much better UI, as well as better features. No official ETA has been provided at this point in time, but we will keep an eye out for further information.

Source : https://bitcointalk.org/index.php?topic=513613.msg9647505#msg964750