It has been over a month since the last trading in the Nijiyan market was conducted.
On July 19, the prices of Nijiyas coins plummeted to less than $1 USD, and have remained there.
On the other hand, on July 22, the Nijiyas price spiked to $9.50 USD.
The price of the Niyas coins have remained stable at around $1.10 USD since the beginning of August.
The Nijiys are the second largest coin exchange in the world.
With nearly $8 billion in market cap, Nijiyuas market has been an active market for a long time.
On October 15, 2017, the exchange announced that it will shut down for good at the end of the month.
However, the situation is not over yet.
According to Niji yas CEO, Gao, Nijiya market will continue to trade in the near future.
“We will be shutting down the Niiya market at the same time.
We will make sure the Niwas price stays at the $1 price,” Gao said.
According, the market has a large number of traders and traders do not understand how the Nixyas market works.
“There are a lot of Nijyas users who are waiting for the price to drop to $1,” Gaiyan, another trader, told CoinDesk.
He added, the only way to ensure the market stays stable is to open the market again.
“People don’t understand the importance of Niyya’s market, they think it is only a coin exchange,” he said.
The market is currently the largest in the market and traders can easily buy or sell the Nijais coins.
“But the Niya market is a very volatile market, we have seen some big spikes and some small ones.
People think it’s a coin market that can be sold and bought, but it’s not,” said Gaiya.
The markets volatility and volatility caused by the volatility of Niwats market can be seen every day on the exchanges website.
Accordingly, many traders are looking for ways to mitigate the volatility.
“We are working on a solution to ensure that the Njiyas price doesn’t go to zero anytime soon.
So, it would help to keep the Nisha market stable,” Gajen, another market trader, added.
Market watchers are not sure how long the Nikais market will stay stable at the current price, but expect that the market will be able to continue trading in 2018.
“Nijiya is the largest coin in the Japanese market and the market is not only a market but a currency,” said one market watcher.