There are a lot of interesting small projects that can significantly improve a particular field. What is nice about them is that they often have already much to offer even at the early stages. It can be a simple feature like a better search algorithm, a tool to help manage a project or something like a project that we are going to look further into today, which is a detector of changes in price charts or betting odds.
Have you ever got an heart attack and started to panic because your freshly invested coin, which had been doing suspiciously well in the past week was falling down to the lowest bottom possible? Well, you are not alone. Pumping and dumping is a very popular strategy that people with a lot of money use to manipulate the price in order to make profit. For an average Joe holder it can mean that once in a while your investment raise happily and seems to be doing pretty well and then out of nowhere falls, making you most likely lose some money if because of these fluctuations you decide to sell or buy more coins. A group of developers are planning to develop a tool that could warn you before it happens.
What is it?
DETECTOR is a bot that will warn you when there is some suspicious activity in the price movement. It can act as a great help with investing in small and unknown coins or token freshly out of an ICO phase, which are very vulnerable to all kinds of price manipulation. It analyzes price charts to predict some abnormalities that may indicate the coin is going under the Pump and Dump strategy.
Betting and odds detections
The project is not only focused on the sole cryptocurrency chart analysis. It doesn’t only check the tokens price charts but also detects movement in odds set by betting sites. It can help to spot suspicious betting behaviour which may indicate that some people have something more than just a feeling about a particular sport match or game.
We know that with big money being put at stake there are possibilities of matches being sold and the underdog of an event is already set to win. This tool will help you spot all of these abnormalities that you can analyze and conclude your own opinion about particular event or predicted outcome. It also uses algorithms to monitor a live situation and odds movement so that you can place the most perfect and most probable bet at the right time with the highest odds available.
You can set up this bot to send you warnings on your Telegram or Slack, as well as via SMS. This way, you will always know beforehand if anything worth-nothing is going to happen and you never miss any price spikes.
Detector Token will be used as a mean of payment for this service when they decide to switch into subscriber-based, as now it’s in a free accessible test version. As the Detector is also highly involved in checking betting odds and analyze the stakes and placed bets, they also hope to introduce this token into cryptocurrency betting sites as a normal currency. It will be also listed on exchanges in the future.
The ICO phase has started on the 20th of August and will last a month. They want to release 12,000,000 Detector Tokens and their initial price is at around 700 DCTC (Detector Tokens) making for 1 ETH. There is no minimum goal that they aim for. All the raised funds will help in developing the platform.
Potential risks and the future
Well, the platform is actually ready and everyone can check it out, so there is no threat of developers not delivering what they promise. The question an investor can ask himself is just a matter of whether or not he finds this project promising. The tool they are aiming to give to people can on it’s own safe a lot of trouble and put to a good use can bring also some kind of profit if it’s data is used in trading cryptoassets.
Therefore, even if you don’t believe in this project on the technical and development level, it still seems convenient to get a hold of some tokens as their price will surely rise with more and more people using this tool and if it helps to prevent trading or gambling losses and can even bring profit, we can easily expect this project to gather some significant userbase and subscribers.