I see it as a long term investment too but this project has had a large reward for bounties and bounty hunters like to dump quickly to get paid (not sure why really, holding is probably more profitable in the long run). Besides that, the orderbook is paper thin. You could marketbuy it up with just a few grand and cause a +50% spike in the price. I also noticed liquid won't let you set out of range bids, so I can't for example set sell orders for 1 BTC, only within current trading range, thought that would be worth mentioning. But yeah as DarkClaw says, the price is a bit illusive right now as there's not enough liquidity for it to really mean anything.
I guess some advice for any future investments you make in crypto is to DCA, I already learned this lesson the hard way on another coin. When there's a relatively large bounty its best to not pour all the money in directly at ICO but to wait for an exchange listing and buy the bounty dump so to speak.
Concerning adoption, the project has a mainnet released and already has a rather large game(SM) signed up and I think a few more under NDA, so if there was a ranking for ''shit done'' XAYA would probably rank itself in the top 5%. Also, it would not be the smartest thing to start a large marketing campaign just to please investors as its a huge money drain.
Most coins don't really take of untill months after their ICO. Take HOLO for example which is quickly climbing right now on CMC, it took from around may to just about january this year for it to start pumping, that's a good 6-7 months or something? Bull market was a little different because there was a good amount of buyers willing to FOMO into something. Things are a tad slower now.
It's best to just wait for Soccer Manager and take it from there. General sentiment in the market is that people want to see some real stuff, some real adoption, some real utility and that's still lacking with a lot of projects. People want to speculate on something that has some tangible results. But prepare to be waiting for what seems like an eternity, I know we all want to see some juicy price action.