• Market Cap
    $1,646.193B 5.04%
  • POW Market Cap
    $1,167.241B 2.64%
  • POS Market Cap
    $143.075B 2.64%
  • Masternodes Market Cap
    $3.319B -0.91%

Midas is evolving

By Rafał - 2019-05-14

Midas.Investments, a company whose profits are mostly generated through masternodes has announced that it is facing difficult times in the face of the recent resurgence in the price of Bitcoin leading to upward movement for most altcoins.
The company bemoaned the situation in which investors have suddenly lost interest in masternodes due to the green coin market. According to the release, the company said that the masternode is “almost dead” because there are no new investors. Of course, alts are not performing great last days if we compare it to BTC, but this statement is way too drastic.
First of all, the masternode market is almost dead. There are no new investors, no new good coins, low volumes on all exchanges. The recent BTC rise is manipulated and will make masternodes only bleed harder. - Trevor, CEO of Midas.Investments
The release which stated that there is no masternode coin performing well in the current market situation also alluded to the fact that the trading volume as seen on Crypto-bridge attests to this.
Interestingly, the report said that the recent Bitcoin price surge is a result of manipulation with the resultant effect of bleeding masternode coins which generally give lower returns than could be obtainable from hodling. With the price of Bitcoin on the rise, most investors naturally gravitate towards Bitcoin which still has dominance of more than 55%.
The Midas Investments release also said that the team is working hard at getting a few big investors to help snowball the platform’s fline bot, even though they seem to have an understanding that this approach to turning things around for the company wouldn’t happen overnight.
There is a hint that the business model may change since it has become obvious that the slow passive income market may just be the focus going forward. The platform is considering that the outflow of investments from masternode coins may not be unconnected with the many scam masternodes in the industry.
The release said that the platform will keep on developing and improving on its services but that their overall goal may change.
Among the changes that should be expected from the Midas platform is the delisting of all shit masternodes coins while creating a system that would incentivize the survival of masternodes listed on the platform.
The company whose vision was to operate an exchange for masternode mining and staking announced that it is missing some of the big coins such as Dash and PundiX and plans to upgrade its platform to attract the big masternode players. The essence is to enable users to mine and trade.
The team has planned a live stream coming up soon, so community members were asked to keep a date with the follow-up announcements.