Graviex Exchange dropped extra digit out of Telos price

Graviex Exchange dropped extra digit out of Telos price

First, the last four digits on the price of Telos at Graviex were 1030, and then just one hour later, the last four digits were 0105!

What had happened, did the price crash? No, Graviex had just dropped the extra digit from its Telos price, so price actually went up.

Yep. Graviex has this system where it instead of using 8 digits after the full unit has 9 digits. This means that as the 8th digit is commonly called Satoshi, Graviex’s last digit is actually 0.1 Satoshi.

This is good for coins which price goes around 1 Satoshi since people can still make some profit without price reaching even that 1 Satoshi, but for coins with higher price, like Telos, this can be confusing to many who haven’t got used to it as they might look price has become ten times better than before when in reality it is just the same as elsewhere.

But no worry anymore, since Graviex gives an option for Coin developers to request removal of this extra Graviex digit, this is what Pascal did, and now price even in Graviex is based upon 8 digits instead of 9.

Notice, however, that to execute this digit change Graviex had to cancel all active orders. So if you were trying to buy/sell anything, your order has been canceled and you need to place the order again.

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