Quoine (QASH) tanked harder than any other coin and the future is pretty murky

QASH has been rather stagnant in the last month or so, at least when it comes to its BTC price. It saw the July highs reached on the 5th, when one QASH went for $.0320387/4798 satoshi before it went through a significant drop-off throughout the rest of the month, reaching $0.224695/2909 satoshi on the 31st. August has been somewhat more stable, perhaps suggesting that the currency came close to discovering its bottom. We still saw QASH reach the monthly lows of $0.138483/2256 satoshi before slightly recovering in the last couple of days.

[vcw-full-card symbol=”QASH” color=”black” currency1=”USD” currency2=”BTC” currency3=”ETH” url=”” target=”_self”]

Currently, one QASH can be purchased for a price of $0.165931 (a 0.13% rise in the last 24 hours)/2559 satoshi (a 1.43% rise in the last 24 hours). Daily trade volume is almost non-existent with measly 52 BTC exchanged since yesterday. The currency’s market cap sits at $58,075,869 which makes it the 95th most valuable coin on the market.

QASH is an integral part of the Liquid platform, a liquidity solving solution created by a company called QUOINE. QUOINE is aiming to bring liquidity to cryptocurrency investments through their World Book, Prime Brokerage services, and the QASH token. By combining the order books of exchanges from around the world, QUOINE Liquid platforms ultimate goal is to give the people an opportunity to easily convert any fiat currency to any cryptocurrency and vice versa. In essence QASH works with Quoine in the same way XRP works with Ripple.

And the Liquid platform is apparently ready to go. Quoine’s official Medium page released a handy FAQ which addresses several key points about the upcoming launch of Liquid. Previously teased by the company’s CTO Mario Gomez Lozada, Liquid’s World Book concept promises to deliver unmatched liquidity to various currencies/cryptocurrencies. Liquid launch process will go as follows:

  • Qryptos and Quoinex (The main fiat / crypto exchange of Quoine) accounts will merge to become Liquid
  • Both platforms will go into maintenance during the merge (they recommend that people who own accounts on them don’t deposit/withdraw funds 48 hours before the merge)
  • The platform merge will take about 2 days
  • Accounts and funds will be transferred from Qryptos/Quoinex to Liquid
  • Withdrawals/deposits will go live once Liquid’s functionality is restored

The issue here is the maintenance period. No one likes not being able to access his/hers funds and the 4 (potentially longer) days of the maintenance mean exactly that. Moving your tokens to MyEtherWallet or another ERC-20 compatible wallet for the duration of the merge could be a solution. Soon after the launch, the team will update project’s smart contract and complete the rebrand of QASH to Liquid Token (LQD). The merge will include the creation of new social media channels that will reflect the new exchanges name. For now it’s still unclear when the merge will officially begin but the team has promised to keep the fans and holders properly updated through Twitter, Reddit and other social media. You can check out the complete FAQ here for more information.

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The company seems to be aware of what positive practices are required from a good business, at least on a marketing/promotional level. Their Medium page is quite lively, with regular updates from major team members and a quirky “Tammy’s corner” section where one of the company’s employees takes time to summarize the weekly events around the project. This week saw them announce the launch of QUOINE offices in Ho Shi Minh and the space looks truly impressive. Tammy also presented QUOINE’s token listing committee and spoke of Katherine Ng’s (Head of Marketing) latest visit to Kuala Lumpur. You can read the complete update here.

Company’s CEO, Mike Kayamori, also maintains a weekly blog on the mentioned Medium page. This week he spoke of his Singapore crypto related meetings which made him sure that the country is starting to look at crypto closer and closer. Mike also mentioned his appearance on CNBC where he covered topics ranging from liquidity to the price of Bitcoin. He also added the team is currently dedicated to the Liquid launch preparation and confirmed the release of the previously mentioned FAQ.

Even with the openness and communication that the QUOINE team is currently showing, parts of their community seem a bit annoyed with their overall behavior so far. The launch of the Liquid platform has apparently been delayed several times and important roadmap goals have been missed repeatedly, making many people jaded and… let’s just say unimpressed with the company’s promise fulfilling record. Still, a successful launch of the Liquid platform and some more positive price action will probably put those restless minds at ease.  We should expect further developments around QUOINE and its Liquid project to be revealed in the following weeks.

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Dobrica Blagojevic
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