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Still small numbers in comparison but around over $100,000 traded in 24 hours. Much higher than normal.
Also interesting to see the decimal place on the percentage increase is correct! LOL.
Bitcoin is 0.02%, COAL is 3.33%.
Pretty certain the COAL volumes are all ours as they aren't dividing it by 100.
Who knows how much the exchange is trading in bitcoin! Could be more that 1/100 of the overall liquidity pool trading volume... could be less...
Wayne - for what ever reason the BoD don't want to tell us the correct volume on the exchange.
Our liquidity partners are doing well though! Getting on for $500m 24 hour volume just on Bitcoin.
Hopefully more than 1% of that is for us!
I've just read some of your past posts Donone. You are very patient!
Will you be checking for a RNS at 7am in the morning next week or have you gone past that?!?
Donni - had they appointed a Lord to the BoD a few years ago?
One thing I know for sure is that we are 1 day closer to a RNS than we were yesterday. The volumes today were woefully low. Could something be brewing?
I'll be on the 7.01am train tomorrow to work checking my phone for the RNS...
Very quiet this morning, the calm before the storm? . . . . .
If you look on the GS20 Exchange Tradingview site it has a bar chart showing the volumes.
The Euros page starts on 31st July 2023.
While the USD starts a lot earlier.
The USD going earlier must be GST's liquidity partners.
I reckon GS20 went live on Euros on 31st July.
The volumes in Euros are relatively low.
It seems likely that the EUR volumes are all for GST. If anyone has time you could add up all the volumes on the bar chart!
Rise this afternoon into RNS tomorrow morning.
Tomorrow midday is officially the end of 'early February'...
I don't believe the COAL volumes on GS20 Exchange are an aggregate of GS20 and their liquidity partners. There are so few exchanges that trade COAL it seems unlikely.
This is backed up as the main page volume is the same as the trading page (ie not 100 times less!).
Current volume on COAL to USD is 19.5 million. That is the most I have ever seen it.
While it only equates to $57,000 if we are getting that on COAL now it could be a sign things are picking up...
We are 1 day closer to the RNS confirming Semnet.
RNS 6th Dec
"Completion is expected to occur two months following the entering into of the Agreement, or earlier as may be agreed between the parties."
RNS 21ST DEC
"Completion is expected to occur in early February 2024, or earlier as may be agreed between the parties."
We went from 2 months to which would have been 6th February to "early February" which is the next couple of days...
Binance 24 hour volume on bitcoin is $2.7 billion. That's exciting.
Worldwide is $32 billion. That's exciting.
GS 20 and their liquidity partners is $464m. That's exciting.
GS 20 pluck a 1% figure from thin air and show their percentage as 1% of the $464m.
GST are in the middle of a FCA approval process and can't provide accurate figures on an exchange they are running. THAT'S DAFT.
Unless their is an ulterior motive.
Sometimes we think people are cleverer than they are. Perhaps the BoD are just as daft as the rest of us.
Just re-read my message.
I give up trying to work out what is going on. Could the exchange volume of $293m be linked to the worldwide $29 billion?!?
Does everyone just divide everything? LOL...
Current bitcoin 24 hour trading volume is $29.36 billion.
GS 20 and liquidity partners 24 trading volume is $293 million.
Anyone's guess is what percentage of that $293 million is GS20.
On their main page they are 'estimating' it at 1%...
It could be more, it could be less!
Lloyd - Tim
I'm still waiting for further clarification.
We need GST to confirm the volumes. I have a feeling deep down in my sunnysideup tummy that they are undercooking it. But I wouldn't base any investment decisions on these figures.
However, if you take the figures on the main webpage as correct (ie 1% take on the overall volume of GS20 and their liquidity partners) and if the last 24 hour volumes were repeated every day over the year the overall commission would equate to:
0.2% COMMISSION $2.6M A YEAR
0.1% COMMISSION $1.3M A YEAR
The lower 0.1% commission estimate, on just 1% of the overall trading volume of GS20 and their partners, justifies our SP based JUST on this element of the business.
Muldoon - good question.
This is the mystery and we need the company to clarify the volumes.
For months now if you multiply the volume of coins traded on the main webpage by 100 you get the $volume traded on the trading view page.
We now have clarification that the BIG volume is GS20 and their liquidity partners.
We just don't know what % of that is GS20.
It could be 1%.
It could be 5%.
It could be 10%.
It could be 0.5%.
On their main webpage for some reason they have decided to show it as 1%.
"looking to grow revenues substantially from these businesses"
Additionally, with the GS20 Exchange we have a regulated, operational, trading platform offering spot trading and over-the-counter trading desk services for popular cryptoassets, although it is much more than a pure cryptocurrency exchange, providing the clearing and settlement needs of both retail and institutional customers with high compliance and security standards.
In the second half of the financial year we are looking to grow revenues substantially from these businesses
Lloyd - you'll like this one.
This is from IR
"The number of 24hr Bitcoin traded on the GS20 main page is an aggregate of GS20’s trading volume and that of its liquidity providers."
I'm still waiting on further clarification.
But I read this is that the volumes on the trading page are the aggregate volumes. You did always say this was to do with the liquidity pool but I think it's the liquidity pool volume.
CURRENTLY $248,906,293 OVER 24 HOUR PERIOD ON BITCOIN ONLY
GS20 STATE 0.2% COMMISSION BUT IT WON'T BE THAT MUCH.
SAY AVERAGE 0.1% COMMISSION THAT IS $248,903 IN 24 HOURS....
WITH OTHER COINS IT'S AT LEAST DOUBLE THAT.
GS20 have then taken the decision to divide the aggregate volume by 100 on the main webpage - presumably to give an indication as to what their own volume is.
So, at least we have unravelled the answer to the 100 multiply times on the trading view page, but we are still no closer to working out the actual trading volumes of the GS20 Exchange.
Remember late November GS20 Exchange volume was much higher. It could be less, it could be more.
Why would the company not be marketing the GS20 Exchange?
Any reason to keep it under the radar while the FCA process plays out?
It is intended that Lord Wellesley will be appointed Chief Executive Officer of Angra Limited in due course, assuming receipt of the required UK Financial Conduct Authority (FCA) approval.
I LOVE THE WORD THEY USED... "REQUIRED".