With the weekend behind us, the time has come to look at what is going on with Creditbit once again. It seems very little has changed over the weekend. More specifically, not much has changed on the development front, but that isn’t surprising. The price is slowly recovering as well after taking a massive beating the past few days. Right now, CRB is valued at US$0.42, which is still well below its actual value.
It is evident the Summer holidays are a troublesome time for cryptocurrency. Just a few days ago, we saw massive price declines for all currencies and tokens. Even CRB got caught up in the mess, resulting in some significant value declines. It now appears things are slowly getting back on track, which is a positive sign. It will take some time until things fully recover, though.
Creditbit Continues to Truck Along Nicely
With no real development progress to speak of, things are virtually at a standstill for Creditbit right now. That is not necessarily a bad thing, though. One can’t simply advance development of a project overnight either. Moreover, it is of the utmost importance to successfully complete whatever the team is working on. A half-assed project will only create more negative pressure on the market, to say the least.
Speaking of negative market pressure for CRB, the currency lost a fair bit of value this weekend. Then again so did most other currencies and tokens. The past 24 hours saw a nice recovery of over 8%, despite falling in value compared to Ethereum. The one value most people care about is the USD price, which now sits at US$0.42. That is quite low for Creditbit, as most people know the project has a lot of potential.
For the time being, we are in an accumulation period for CRB. That is both positive and negative, depending on how impatient you are. Accumulation allows more investors to get interested in the Creditbit project. At the same time, it also means the CRB price will remain fairly low for the time being. Things will eventually pick up, though ,and patience is a virtue right now.