As the weeks go by, traders on the Ethertote will develop their own strategies for selecting particular cryptos. Some traders will incorporate technical and statistical analysis when making their selections. Others will factor in fundamentals, community sentiment, monitor crypto news stories, etc.
What we would like to explore is a benefit of owning TOTE tokens when trading on the Ethertote.
Now everyone can trade on the Ethertote during the “standard trading” period, which represents the vast majority of time that the game is open each week. Standard trading is open for 154 hours for every game.
However TOTE token holders are also able to trade during the “extended trading” period, which is an additional 4 hour period immediately after the “standard trading” period closes.
It doesn’t seem like much time to make a real difference, but let me offer you a real example of how it can make a significant difference.
During testing a couple of days ago, we noticed something really interesting on the Ethertote. Various cryptos were vying for the lead in terms of overall % gain, and then all of a sudden a few news stories broke out regarding the SEC’s postponement of making a decision on a crypto ETF.
(full story here: https://www.cnbc.com/2018/08/08/bitcoin-price-falls-after-sec-postpones-key-etf-decision.html)
Anyway, as soon as this new story dropped, the price of Bitcoin started tanking, and as anyone who is involved in crypto knows, if Bitcoin starts tanking, ALL the crypto’s start tanking!
…but not Tether.
Tether is considered a “stable coin” as it is tied to the value of the $USD. So whilst the crypto’s began plummeting, Tether didn’t really move.
So what effect did this have on the Ethertote? Well all of a sudden every single crypto (with the exception of Tether) bombed, and almost immediately Tether moved into the lead as the “current leading crypto” on the Ethertote.
Now imagine if that news story had broken out during the 4-hour “extended trading” period?
Food for thought.
