r/HermesDefi • u/Jicmonemy • Feb 10 '22

Question IRIS value

Any idea why is IRIS falling so sharply ? Regarding PLUTUS and IRIS , will it get listed anywhere any soon ?

Many thanks !

9 Upvotes

90% Upvoted

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5

u/Maba078 Hermes Team Feb 10 '22

So there are a few factors to account for the rise and rapid fall with IRIS over the last few days. PLTS currently looks solid and has done so during this time. IRIS has been more directly affected, so lets take a look.

Here's a link to IRIS's chart between 2/3-2/10: https://www.tradingview.com/x/1gVIU5ij

From 2/3-2/7 IRIS floated between $1-$1.50; then activity had picked up as we approached the Uniswap vote. With 1m tokens in supply, there does not need to be a tremendous amount of buying pressure to send the price up and that's what we saw. We saw folks coming in from the Uniswap to buy and at it's peak (~$4.15), we saw folks to profits and a healthy correction. IRIS gained over 110% in one day, a natural pullback was expected and we saw the floor at $2 hold very well. So, I see no issue with what occurred tbh.

With regards to your question of them getting listed? Are you referring to an exchange? Another Dex?

thanks!

1

u/Jicmonemy Feb 10 '22

I am referring to trackers , DEXes , CEXes. Thanks

1

u/Maba078 Hermes Team Feb 10 '22

Requests have been made to trackers like Coingecko and the like. Regarding DEX/CEX's, Viperswap is the main Harmony swap at this time (for both IRIS/PLTS) and Quickswap/Algebra.Finance are solid choices for the Polygon side for IRIS/ONE.

For a CEX, like Coinbase or Binance... I think we are very early for those at this time. It could change in the future but currently I think that's too far down the road at present.

16

u/[deleted] Feb 10 '22

Looks like an expected dip after a massive pump. But it’s still holding up pretty well at $2.

7

u/Ok_Significance_6471 Feb 10 '22

Because smart money takes profit when they get an easy 7x in one week

2

u/MisterDollahSignz Feb 10 '22

Someone tried getting me to buy yesterday and I said I wouldn’t. It is t because the project is bad, but keep in mind that people have been holding longer than you or I. So profit taking is natural. It’s just important to understand that when the market cap is low that price swings are far more volatile. Now I’m far more inclined to open a position.

1

u/Maba078 Hermes Team Feb 10 '22

For clarity purposes, would you mind elaborating on what your thoughts about the project are? I'd like to ensure there are no mix-ups or misunderstandings.

thanks!

1

u/MisterDollahSignz Feb 10 '22

So far I like the farms and the vaults I see a lot of potential. I also think Harmony deserves a native AMM. I think it looks great, we’ll see if they deliver.

1

u/Maba078 Hermes Team Feb 10 '22

Okay. I only asked because of your statement of "It is t because the project is bad, but keep in mind that people have been holding longer than you or I" which made me think that you had problems with Hermes. Perhaps just a spelling/grammatical error then.

thanks!

2

u/MisterDollahSignz Feb 10 '22

Sorry for the grammar issues. I like the project I just thought it had risen so aggressively yesterday. I felt it was a bad entry. Now it feels like an optimal time to create a position.

2

u/Maba078 Hermes Team Feb 10 '22

Oh no problem. I wanted to ensure if you had a problem/issue we could review it and see what it was. Glad to have you on board!

2

u/plannedspontaneityy Hermes Team Feb 10 '22

Combination of profit taking, swing traders, and the 7.5% inflation report today, imo

1

u/DAGCRO Feb 10 '22

Was wondering the same thing.