2022-02-04 11:56:36
Dear Conjee Community,
Our price has fallen for the past 10 days due to many reasons. First and foremost is that there is panic selling. Panic selling occurs because holders believe that the market as a whole is going down rapidly and with it so will $CONJ. Because of this reason they decide to sell to get out to the market completely now and buy when the market has reached a bottom. This has a cascading effect because even buyers that believe in $CONJ see the price going down and get concerned and want to FOMO and sell. This causes the price to rapidly go down. This behavior does not help any $CONJ holder because the price for everyone decreases least of all it really hurts the panic seller even more.
This panic selling is happening in all markets mainly the S&P 500, NASDAQ and the entire crypto market. You saw it initially with bitcoin being down from its high of $70k.
This previously happened in a major way in 2008 when all internet stock fell massively.
The Federal Reserve Board held a meeting that stated that they will no longer buy toxic bonds and will increase the interest rate at least 4 times this year which led to another dump in major markets.
So, what is Conjee doing about this?
We are feverishly working to finish our marketplace app so it will be fully operational and artists can mint NFTs. We are incorporating USD Tether minting as well as $CONJ minting in order to give artists a choice of tokens to mint with. We will obviously have lazy minting so artists can display their work without paying anything upfront.
We believe that once the NFT marketplace app is up and running in about 6 weeks’ time that Conjee will reach heights never reached before.
In the meantime, if the market stabilizes, we will definitely list on Pancakeswap and have negotiated with a major Centralized Exchange to list there as well.
We know that in this short time your investment may have decreased in value but ask that you continue with your confidence in this project and stay the course. You will be well rewarded when this project comes to fruition in the next few months.
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