Kris T Reeder, the world’s leading Trombone Creative quietly launched the ERC 20 standard KrisTReederToken in October 2018. At the time it was unclear what the purpose of it was or whether it would have any utility at all. Billed as a utility token, KrisTReederToken or KTR was relatively static with a very low trading volume.
Until Uniswap emerged.Source: Bloxy.io
After KTR was made available on Uniswap the transaction volume went from 0 in March 2019 to 270 million in April 2019 over 26 transactions marking a massive up turn for the ERC 20 token. This is no surprise really as Kris T Reeder’s general accumulation of Notes tokens on the Choon platform is now at nearly 500,000, placing him among the top group of artists on the platform. Also, he has had a string of top 100 hits on Choon recently re-affirming his status as ‘blockchain’s biggest Jazz artist’.
What will be interested in the coming months is the relationship between KrisTReederToken and Notes which can be exchanged on Uniswap for eachother. If the trading volume of KTR increases adding liquidity to the KTR pool on Uniswap, then there could be a chance that Kris T Reeder could begin to buy back Notes tokens in turn, sending price of Notes up significantly. Factoring in the surge in Ethereum prices, the need few months could mark a significant price breakout for KTR and Notes both as a pairing and separately.
Whatever happens though, the world’s leading Trombone Creative is way ahead of the curve and anyone seriously interested in blockchain music should be taking a keen interest at this pivotal moment in history.
Listen to Kris T Reeder for free on Choon here: https://www.choon.co/tracks/0byzo8mjnnp/time-to-fly-take-2/