Death Blow Coming for HaloDex and Halo Platform
As I have been reporting, HaloDex seems to be in it's final convulsions before finally giving up and disappearing altogether. The struggling Decentralized Exchange has had a number of setbacks over the past year, not the least of which was the removal of ALL BTC trading pairs from the site. This was reportedly due to lack of interest from traders. In addition, low volumes caused the owner of the DEX, Scott Morrison, to remove some of the other listed coins from being traded on the DEX.
Here is a screenshot of the DEX this morning showing the ETH/Halo pair...and if you are a Halo hodl'er, it is very disturbing:
If you look at the daily Volume figure at the top of the pic, you'll see that only 8.80391551 ETH was transacted in the last 24 hours for that pair. Looking at the "All Trades" column on the right hand side, you will see that the majority of the volume was from some trader divesting themselves of about 20,000,000 Halo at 15:06:32 - 15:06:58. In other words, in 26 seconds the liquidated enough Halo to fill more than 3 Tier 4 Masternodes...and they did so at market price, causing a drop in coin price of over 30%.
It's clear to anyone who has been following this project, that promises made and not kept will not keep this ship afloat. If you are a Hodl'er, I suggest re-evaluating what this project is actually worth. Keep in mind, the Centralized Exchange was supposed to be launched a year ago. Had they met that timeline, they may have had a chance to survive. Now, the CEX market is saturated with really worthy competitors, which will make traction for Pinnacle virtually impossible to attain.
I am not a financial adviser. Do your own research. Ask difficult questions in their Discord Channel. If they don't "kick or ban" you for asking them, get the answers you are looking for and make your own decisions. I made mine and took the loss and am moving onto other less shady projects. I will continue to keep interested people abreast of the happenings on Halo as it sinks to it's final resting place at the bottom of the heap.
It's like anything else. The smaller and less evil YT alternatives, and twitter alternatives ideally would be better because there would be less shadow banning and real banning but they don't have the 'volume' of tweets or videos.
I have tried to stay on several decentralized exchanges because they don't send the ta.x authorit.ies after you when you trade too much, but low volume is a problem because you can't even quickly buy or sell the big moves. Sad to see any of these safer options fail.
I agree that DEX trading is preferable to using centralized alternatives. Unfortunately, there are so few users on sites like HaloDex that prices are never up to date, and there is virtually no liquidity. It can take days to place and fill a large order, which means the price you close at can be dramatically different than what you expect. HaloDex is a garbage platform.