Someone cue up Slayer’s Raining Blood, the only appropriate soundtrack to the current financial bloodletting currently gripping the entire market. The blood, as they say, is running in the streets. Between the recent bearish inflation numbers and subsequent talk of more aggressive rate hikes by the Federal Reserve last week, and the fear of another cryptocurrency “bank run” in the wake of Celsius freezing all transfers and withdrawals over the weekend, hardly anyone could be blamed for their fear. The equities market was down over 2% on Monday, while Bitcoin plummeted 19%. It was not pretty.
All of this comes on the heels of months of bearish churn. It should surprise precisely no one that the weaker blockchain projects have begun to die off. Those remaining continue to limp along, bleeding liquidity as retail investors capitulate in droves. The reasons for these failures are too many to name, sadly.
For the legitimate projects that struggle, they generally fall into a handful of categories — either the project never had a proper business plan, or the project tried to expand too quickly. Either of these can hobble a project. During a bear cycle, they usually prove fatal.
The Fundamentals Are Your Friend
When a new project launches, most people would agree that establishing the fundamental core value proposition supersedes all other concerns as that project’s top priority. Many projects, even some major ones, never achieve that status.
One of the biggest mistakes new projects can make is to attempt to expand too quickly. They often try to do too much, too soon. This lack of focus becomes one of the major hindrances in any startup space. When you have a group of smart, highly motivated, and excited people working to build something great, such groups commonly tend to allow “mission creep” to dictate development. Instead of identifying and delivering a fundamental solution, some teams end up chasing the newest shiny object.
That problem typically goes hand in hand with not having a solid business plan. Without a blueprint for a successful business, projects end up meandering developmentally. That lack of direction hamstrings the ability to develop and grow a project’s revenue. Because nothing ever quite works as intended, the project fails to deliver a real and reliable solution. That failure demonstrates a lack of commercial viability, and the market punishes them for it.
From Disaster, Hope
Sometimes, projects do manage to succeed, despite market activity. Unlike almost every single project in this space, Ghost Trader launched with a proven solution. For those of you who follow this publication already, you already know how revolutionary the Ghost Trader project is. Not only did the Ghost Trader team launch the project themselves, the team had already proven and demonstrated the fundamental use case of GTR before launch. The team has also continued to prove the strength of the project by delivering consistent rewards to our contributors since inception.
By blazing our own path, Ghost Trader is succeeding month-in, month-out. We have augmented and overhauled our project based on experience and foresight from both the team and the broader GTR community, making us significantly more robust than almost any other project in the space. As you can read here, the team has been working since launch on perfecting our fundamental ecosystem, tweaking and improving it in order to maximize our fundamental value proposition.
More importantly, by remaining focused steadfastly on making sure every new addition or alteration ultimately helps to reinforce our core value proposition, the project is well positioned with a tremendous foundation upon which to expand into new endeavors as the space develops. For now, the team remains focused on delivering our core value proposition consistently, adding new utility as the project and community needs dictate.
The New News
With that, the Ghost Trader Team would like to announce the formal release of our NFT Marketplace. This rollout will allow contributors to buy and sell our NFTs on the secondary market through our DApp. Once the Marketplace is fully live and ready for prime time, the team will then begin preparing for the release of the first tranche of Silver Edition Ghost Trader NFTs. These NFTs, as well as the Genesis Gold Edition NFTs, will be tradable via the marketplace. Over the coming months, the Ghost Trader team will also begin to add to our roadmap. We will also continue releasing pertinent news and announcements about the progression of the overall project.
Be sure to stay tuned to this space moving forward for updates and further deeper explanations of the Ghost Trader project. In the meantime, we invite you to check out our official Ghost Trader website, join us either on Telegram or Discord, and follow us on Twitter and LinkedIn.