TEZOS Pressured by Class Action Lawsuit, Community Still Hopes on Official Launch
Cryptovest
Published May 21, 2018 07:00AM ET
TEZOS Pressured by Class Action Lawsuit, Community Still Hopes on Official Launch
TEZOS , one of the most promising ICOs in 2017, is still not over roadblocks and hurdles. The mainnet launch, still expected to happen, has been delayed by squabbles, lawsuits, then a rearrangement of the Tezos Foundation, which is also taking a long time.
The tokens, known as “tezzies”, have appreciated gradually in the past month from recent lows, almost doubling in price. XTZ tokens trade at $4.76, relying on HitBTC and Gate.io exchanges. For a large-scale, high-publicity project, TEZOS trading is extremely low, to the tune of $600,000 per 24 hours.
!XTZ!
This has caused ICO backers to lose patience, for being turned into inadvertent holders. For others, however, the forced HODL policy was an inadvertent skin in the game, so the community ended up defending Tezos against a bout of lawsuits:
https://twitter.com/tezosbrigade/status/998238089809223680
Unfortunately, it was precisely the presence of a Swiss-based Foundation to ensure legality that is hampering loops in development. For TEZOS, this turned into dead weight, not allowing the speed needed in the cryptocurrency world.
It is unknown whether this would lead to a faster mainnet launch, but at least it shows the project has a strong community. In the case of TEZOS, a launch may finally mean a rapid appreciation of the digital asset, with some seeing the price easily reach $100.
For now, the rumors of a launch at the end of May seem to be unconfirmed. The talk of a rogue launch by TEZOS code owner Kathleen Breitman has also subsided - and her Twitter has no updates on the project.
One thing is sure - if TEZOS makes it, it has chances of making it big, but otherwise, it will continue testing the community’s patience.
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.