Can you imagine it? In a filing dated October 6, this company moved the listing date from October 8 to October 12, and the closing date from October 7 to October 9. This administrative step pushed two dates back, but by different amounts: the closing moved by two days, the listing by four, and the gap in between grew from one day to three.
The sticking point lies in the type of procedure. For this company, it was an administrative delay, with the gap filled in by the person drafting the documents; another kind of postponement leaves no gap to fill, because the clock is reset to zero.
As I count it, the three postponements in this week each landed in a different place on the timeline: the account mandate amendment was originally set to take effect on October 5, but because the approval among the 35 validators fell below the 80% threshold, it was pushed to October 8; the batch transaction item was originally set for September 29, and likewise fell below the threshold, so the countdown was reset and it was scheduled for October 9. The threshold must hold for two consecutive weeks; if it slips even once, it starts again from zero.
In the tally on October 3, 30 of the 35 validators approved, or 85.71%, so the timer started running again; if it slips again, the two-week count has to begin all over.
There is no corresponding trace of this move in that day’s figures. XRP was down 5.25% that day, with trading volume of $39.1683 million; Stellar was down 5.69%, with $4.8706 million; Algorand was down 4.12%, with $169,600; Hedera was down 7.13%, with $3.3022 million. The declines ranged from 4.12% to 7.13%, while trading volumes stretched from $169,600 to $39.1683 million, spanning two orders of magnitude. The two columns were ordered independently, and they do not line up with those two date changes.
What changed this time was the calendar; the ledger entry did not change along with it. You cannot find it in the four lines of figures; the changes were made in two procedures—administrative processing gained a few days, and the voting threshold reset to two weeks. There is only one scenario that would invalidate this interpretation: if the reserves disclosed after the listing do not match the earlier total of 473 million coins, then the delay affected the books and this reading is void; if the total stays unchanged and only the dates moved, then it stands. To check the figures for that day, the XRP line on Binance and the day’s highs and lows for the other three lines can all be found, and the execution price is there too. This article is a record of opinion and does not constitute investment advice.$MET
$GTC
$SAND
#evernorth推迟纳斯达克上市至10月12日
The sticking point lies in the type of procedure. For this company, it was an administrative delay, with the gap filled in by the person drafting the documents; another kind of postponement leaves no gap to fill, because the clock is reset to zero.
As I count it, the three postponements in this week each landed in a different place on the timeline: the account mandate amendment was originally set to take effect on October 5, but because the approval among the 35 validators fell below the 80% threshold, it was pushed to October 8; the batch transaction item was originally set for September 29, and likewise fell below the threshold, so the countdown was reset and it was scheduled for October 9. The threshold must hold for two consecutive weeks; if it slips even once, it starts again from zero.
In the tally on October 3, 30 of the 35 validators approved, or 85.71%, so the timer started running again; if it slips again, the two-week count has to begin all over.
There is no corresponding trace of this move in that day’s figures. XRP was down 5.25% that day, with trading volume of $39.1683 million; Stellar was down 5.69%, with $4.8706 million; Algorand was down 4.12%, with $169,600; Hedera was down 7.13%, with $3.3022 million. The declines ranged from 4.12% to 7.13%, while trading volumes stretched from $169,600 to $39.1683 million, spanning two orders of magnitude. The two columns were ordered independently, and they do not line up with those two date changes.
What changed this time was the calendar; the ledger entry did not change along with it. You cannot find it in the four lines of figures; the changes were made in two procedures—administrative processing gained a few days, and the voting threshold reset to two weeks. There is only one scenario that would invalidate this interpretation: if the reserves disclosed after the listing do not match the earlier total of 473 million coins, then the delay affected the books and this reading is void; if the total stays unchanged and only the dates moved, then it stands. To check the figures for that day, the XRP line on Binance and the day’s highs and lows for the other three lines can all be found, and the execution price is there too. This article is a record of opinion and does not constitute investment advice.$MET
$GTC
$SAND
#evernorth推迟纳斯达克上市至10月12日