If you have been in the cryptocurrency space for the past year I’m sure you have heard of ICOs. These are investment vehicles utilizing crypto that pulled in hundreds of millions of dollars worth of funding for various projects. The biggest problem with ICOs was the unregulated nature of the offerings which subsequently resulted in many scams and failures. As a result, a new trend is emerging called STOs or Security Token Offerings.
Just like with ICOs, STOs allow interested investors to contribute to a project. However, the biggest difference is that STOs are highly regulated and the platforms that issue those securities must adhere to rigorous rules set in place. Furthermore, not everyone can participate in an STO, usually the person must be an accredited investor and also must pass KYC verification prior to contributing funds.
As with ICOs there are various issuance platforms for STOs, some of the more notable ones include Polymath, TokenIQ, Securitize, Swarm and much more. This is where MOBU comes in. MOBU is a security token issuance platform that will allow companies looking to run an STO to be able to execute it up to regulatory standards. The best thing about MOBU is that they plug into the already successful ERC20 token standard. According to their whitepaper:
“The MOBU abstract smart contract will contain the code that is required by the STOs to conform to the MOBU ERC20 platform and the MOB20 standard protocol to adapt to the ideas and requirements of MOBU.”
The twist when it comes to MOBU is that the security token issuance platform is running an STO of their own – STOception! By contributing to their STO, one is essentially betting on the platform’s success. When investing in the STO, one will get MOBU tokens in return. According to the whitepaper, the token’s revenue will come from various fees the platform will charge for listing STOs and transactions on the platform. Furthermore, there are already five confirmed issuers that have signed up on MOBU.
One does have to be an accredited investor in order to participate and one also has to pass KYC verification as with most other STOs. The minimum investment requirement is 1 ETH which is quite low compared to some other STOs. The STO started on February 1st, 2019 and will commence until April 30th 2019.
Substratum CIO asks clarification, CZ hints the day-trading of ICO funds
Binance’s CEO, Changpeng Zhao responds to Substratum CIO’s dissatisfied questions, hinting that they have been day-trading their ICO funds.
Following the delisting announcement made by Binance just a couple of days ago, the Substratum team posted on their Twitter account that they have reached out to the exchange for a clarification.
Read more: Binance purges five more projects from exchange including WINGS and SALT
Substratum became aware of our Binance delisting Feb 15. We have reached out to Binance for explanation. As soon as we have more information we will make it available. Development of Substratum continues and we are moving forward with monetization, security, and usability.
— Substratum (@SubstratumNet) February 15, 2019
The tweet received many responses, including from Binance’s CEO, Changpeng Zhao, which ended up in engaging a “conversation” with Substratum’s CIO.
Initially, CZ was only giving a thumb 👍 to a comment made by a user, @CHalexov2016, who said, “Again guys! Working product made price and not exchange! Btw i hodl some $sub and lost with your product! But not becouse of @binance delist but becouse of project team and founders! 🤝👍🏼”
His response triggered the “dissatisfied” Substratum’s CIO, Abram Cookson, who “demanded” explanations on the delisting decision.
Project? Team? Founders? I Don’t like my dev team thrown into the fire with a single emoji. They work hard daily and commit to the public repo. Was it me? Did I make false claims? Just curious.
— abramcookson (@abramcookson) February 16, 2019
CZ’s response to the question hinting that Substratum has been using the funds raised from ICO for trading.
“Maybe stop trading the funds you raised that was intended for product dev?” he tweeted, followed by a statement that he will not respond again and observe Cunningham’s law, instead.
The Substratum team responded by claiming that it never happened and that they’ll be more than willing to provide “more granular level detail” to Binance to clarify.
Never happened, happy to provide more granular level detail directly to Binance within exchange wallets if it clarifies things:https://t.co/uTEfzKgLov
— Substratum (@SubstratumNet) February 16, 2019
And that’s not all, Cookson replied again appreciating CZ’s response, while also saying that he doesn’t control their funds or marketing and expecting transparent dialog and open source to “regain trust”.
Defying his previous comment, CZ replied back by saying that Binance couldn’t give early warnings for delisting, since he said, “Some teams (not you) may dump their own coins if they have early news.”
alright, constructive conversation, will respond. On our side, please understand we can't give early warnings for delisting. Some teams (not you) may dump their own coins if they have early news. Need to control info leakage. No easy way about it. keep building, good luck!
— CZ Binance (@cz_binance) February 16, 2019
CZ’s last comment responded by the Substratum team that said they will provide access to Binance to their exchange account to clarify the day trading “accusation”.
The other comments vary, some expect it is just “a comedy of unintended errors and misunderstandings and that in the end, all will come right” or that “Binance will give SUB a second chance”. Others affirm CZ’s allegation by saying, “If they have knowledge that the substratum team are trading their ICO funds, I’d argue they have an imperative to delist $sub. This rumor has been around for a while and $sub holders have had a chance to dump their stacks.”
On Reddit, apparently, there has been a post trying to unite Substratum’s ICO investors to file a class action lawsuit against the company.
Does Substratum really day-trade their ICO funds? Will there be any class action lawsuits against Substratum? As always, stick with Chepicap for updates.
EOS Price Prediction 2019: Buying this cryptocurrency might be profitable investment! – Price Analysis – Cryptocurrency News Today – Crypto News Today – Sun Feb 17
Do you wish you got on the bitcoin train far back when 1309 bitcoins cost $1? Investing a dollar then will be worth a million dollar now. Come to think of it, within nine years, you would have become a millionaire. Hindsight though, they say is 20-20. EOS can be the next great investment for you.
There are some bold predictions I have for the cryptocurrency for 2019. I will do well to explain some reasons behind my predictions for EOS. According to Steemit writer ordinaryrich, it is very likely that EOS will be worth about $20 in 2019, purchasing one thousand units of the cryptocurrency will be a profitable investment if this happens. Below is a list of some possible events in 2019.
- Bitcoin and Ethereum’s dominance of the cryptocurrency market will reduce by about 15%. More cryptocurrencies are coming into the market, so this is a possibility.
- The cryptocurrency market will go up by about 4%.
- EOS may see a rise in its market capitalization; about 60% of Ethereum’s. if this happens EOS may rise to about $70.
This is a bold prediction. EOS may hit this price if more cryptocurrencies enter the market, the EOS community continues to grow. Even if all these happen, it is possible for some other factors to somehow contribute adversely or positively to the growth of EOS. This is just a prediction.
What is EOS?
EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.
The journey of EOS cryptocurrency started in mid-2017 by Dan Larimer, founder, and creator of Bitshares and Steem. Unlike most of the crypto coins, the ICO and token distribution period of EOS ran over a year. EOS aims to be the quickest platform for Dapps and can process over 50,000 confirmations per second. Ethereum successfully overcame the transaction issues of Bitcoin. Moreover, the Bitcoin blockchain does not support the excessive development of Dapps and DAOS. EOS has challenged the Ethereum blockchain by allowing much faster transactions. This will also enable EOS to create more advanced Dapps. This will also lead towards a future of tokenized economy globally.
Will Ethereum lose to EOS?
Since the inception of EOS, it has grabbed the attention of cryptocurrency speculators. Ethereum has already proved its worth as the biggest Dapp platform in the cryptocurrency world. But, the cryptocurrency experts say that EOS and its blockchain Block.one have the potential to overtake Ethereum. In fact, the rapid growth of EOS accentuates the prediction.
Pros of EOS
EOS is a Larimer project. Lots you can say about him, but what you can’t say after his inventing DPoS and writing BitShares and Steemit is that he doesn’t produce. AngelShares had the exact same terms as EOS, and it paid out as promised. Graphene, the implementation of DPoS they plan to use for EoS works and has been tested in BitShares for years now. It’s just a matter of implementing smart contract functionality, plus the other extras mentioned, on top of it. It’s not the greatest solution, but goddamnit it will scale if nothing else will.
Why so much FUD then? I think that’s pretty obvious. People want cheaper EOS. You don’t see so much FUD for a REAL scam, maybe a warning post.
What this ICO has taught me is that from now on if I see a downright onslaught of FUD that seems to be trying really hard, I’m going to pop that project to the top of my due diligence list.
A legit project announces a massive ICO and suddenly you have sockpuppets at EVERY. SINGLE. MENTION. of EOS for the entirety of the ICO period bashing it with every argument you can come up with? That’s a clear sign that greedy whales want more EOS.
Thing is about EOS; they might surpass ETH in no time. If you combine BitShares and Steemit. Those two hold way more network activity than ETH and BTC combined. EOS is about block.one, to onboard business onto the blockchain. They have developed real life products with use cases that are currently being used by people who have NO idea its blockchain nor have any clue what cryptocurrenices are.
And that tbh, is the future. When normal people are using blockchain without knowing it.
ETH are a million years away of actually handling daily transactions we see today. To be able to be “the one protocol” it will need to handle several millions tx a second. Currently we are at 30 something a second.
Another funfact is that; EOS already hold more ETH than the Ethereum foundation. and the ICO has just started.
All that being said; The EOS token we see today holds no real value, it has NO purpose as stated in their whitepaper.
Cons of EOS
EOS seems shady, irresponsible, and extremely dangerous to the crypto ecosystem.
I know there is tons of promise around the EOS project and it has a strong team, but I can’t help but question their decision to structure their ICO the way that they did.
https://github.com/eosio/eos-token-sale . The EOS Token sale will be conducted on a continuous distribution model for 1 year. 1,000,000,000 (one billion) EOS tokens will be minted at the start of the sale. These tokens will be split into different rolling windows of availability. The tokens for a window will be split proportional to all contributions made during the window period.
For example 20 EOS are available during the window Bob contributes 4 ETH Alice contributes 1 ETH Bob contributed 80% of the total contributions and gets 16 EOS Alice contributed 20% of the total contributions and gets 4 EOS At the start of the sale, 20% of the total minted tokens (200,000,000 EOS) will become available during a 5 day window.
The remaining 800,000,000 EOS will then be split evenly into 360 one-day windows of 2,222,222.222222 EOS tokens each.
369 days after the creation of this contract the EOS ERC-20 token will be frozen and non transferrable.
This whole structure feels incredibly shady and manipulative to me. Essentially they will be selling an unproven token to the public priced entirely on future promises, and pitting prospective investors against one another to drive the cost of tokens up. The fact that tokens will be traded on exchanges immediately also offers market liquidity, essentially creating a never-ending demand for the tokens once the initial price is set by the initial 5 day window, or the “floor”. As long as EOS continues to feed positive news and hype to the public, there will be no reason for people to sell at below the floor price. Early investors will feel pressured to keep the price above what they paid, and every day will basically be an arbitrage opportunity for people to buy EOS tokens from the contract at a price cheaper than what’s being bid on the exchange to make a profit, which will most likely cause more competition in the smart contract and drive the price up even further.
I’ve done some pretty extensive analysis of past ICOs in order to better my own chances, and I am one of the few who got into the BAT ICO, along with many others. Through all of my efforts I have developed some pretty clear metrics and different data points for determining the approximate demand for a particular token at ICO time. Based on my analysis, I think the EOS ICO already has enough attention and draw to be on a similar level to BAT, which as everyone knows, sold out in the first 3 blocks. BAT was most likely the most hyped and anticipated ICO in the history of ERC-20 tokens, and EOS seems to be in a very favorable position to being the next ICO on that level.
Let’s say for the sake of example, that EOS will have a similar demand to BAT. Based on the raw BAT transaction data I pulled, roughly 709k Ethereum was sent to the BAT token address within the first 10-15 minutes of the ICO start block. 709k ETH at the current price of writing ($283.42) would put the total amount raised for the first window at over $200m. This would set the price of each EOS token at a “floor” of a little over $1 each. Assuming there is continued interest in the token, and people continue to buy into the promise and potential of “the Ethereum killer” (I suspect people will continue diving headfirst into this due to the promises made by their vague and ambitious whitepaper with its many bold claims), they would very likely go on to raise over $1 billion in ETH over the course of the year, putting them at roughly 5x the net worth of the Ethereum Foundation right out of the gate.
If they truly believed in their own idea and its future success, why not do the same thing as what Ethereum or other ICOs did by holding onto a significant portion of your their coins with the belief that they would appreciate over time, rather than selling all or almost all of it and exposing the crypto space to that level of risk just to secure an unreasonable amount of funding up front? Why would ANY crypto project need to raise more than a couple hundred million for initial development and operations up front, let alone over a billion?
This is one of the reasons why ICOs simply raise what they need to operate- if the project goes well, everyone wins, and they not only add value to their own pockets, but to the entire ecosystem as a whole as well. If they fail, well, they don’t get to walk away with a billion dollars.
I really hope I am wrong, but there are so many red flags with this ICO that I felt like I couldn’t just stand by without posting about it. This whole thing feels a bit devious and nefarious to me, and it makes me sick to my stomach.
EOS is being hyped up as “the Ethereum Killer”, and I agree, it does actually have huge potential to be kill Ethereum, but not by having better tech. Instead it would be by tarnishing the crypto sector so severely when the scam falls through and there is Bernie Madoff level news coverage on this, making new investors not want to touch crypto with a 10 foot pole.
This all sounded pretty good to me so I checked out the Telegram channel, the whitepaper, and then looked into the github. I was surprised to see only 2 real contributors on the repo (Dan himself and Nathan Hourt). With only 152 commits I assumed it was just very early days and that they had a long way to go, but I kept thumbing through commits until I saw the commit msg on this one:
“Remove cruft, rename BitShares -> Eos”
Definitely feels weird.
Then last night I was watching Vlad on Bitcoin Uncensored and Chris DeRose made a passing jab (for whatever that’s worth) about Dan spinning up cryptos, cashing out and leaving the community to clean up the mess.
I don’t think many people realise what they are offering. Block.one (EOS) will not be launching the blockchain. It won’t be Dan Larrimer who will be launching the blockchain. What they are doing is providing software (which they are essentially just copy paste large parts of bitshares, steem by making it open source (they have said the development would only take a couple of months) and selling it via ICO. It’s then up to someone else to want to create the blockchain using the software and they optionally have the right to use the EOS tokens for the first block for which people can claim their tokens back.
As its open source technically anyone could just launch their own token anyway using the code and not have anythign to do with EOS tokens and create their own ICO From their slack channel: When the distribution on ethereum (of 1 billion ERC-20 Tokens, which we are calling EOS), finishes, it will be frozen in place. After that time, any blockchain launched using the EOS.IO software, which is being developed by the block.one team, can use that distribution as the very first block.
Once that first block is launched and the blockchain starts to propagate, people will be able to claim their ownership of the tokens on that blockchain (probably also called EOS, but who knows?), using the private key that held the ERC-20 tokens at the end of the distribution
i would also link to their terms and conditions but appears the link is no longer available but have copied important sections below. Feel free to google
EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES
The EOS Tokens do not have any rights, uses, purpose, attributes , functionalities or features , express or implied, including , without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform. Buyer should not participate in the EOS Token Distribution or purchase EOS Tokens for investment purposes. EOS Tokens are not designed for investment purposes and should not be considered as a type of investment. Within forty eight ( 48 ) hours from the end of the EOS Distribution Period, all EOS Tokens will no longer be transferable and the EOS Token Contract will prevent all further transfers and public key mappings. At this point , the distribution of EOS Tokens will be complete .
Buyer acknowledges, understand s and agrees that Buyer should not expect and there is no guarantee or representation or warranty by Company that: ( a ) the 5 EOS.IO Software will ever be adopted; ( b ) the EOS.IO Software will be adopted as developed by block.one and not in a different or modified form; ( c ) a blockchain utilizing or adopting the EOS.IO Software will ever be launched; and ( d ) a blockchain will ever be launched with or without changes to the EOS.IO Software and with or without a distribution matching the fixed, non transferable EOS Token balances.
Furthermore, EOS Tokens will not have any functionality or rights on the EOS Platform and holding EOS Tokens is not a guarantee, representation or warranty that the holder will be able to use the EOS Platform, or receive any tokens utilized on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software is adopted , of which there is no guarantee , representation or warranty made by Company .!The FOMO on not catching the next episode of crypto blastoff is real, but this one worries me.
Introduction to EOS
EOS іѕ a blосkсhаіn-bаѕеd, dесеntrаlіѕеd ореrаtіng system, dеѕіgnеd tо ѕuрроrt соmmеrсіаl-ѕсаlе dесеntrаlіѕеd applications by providing all оf the nесеѕѕаrу соrе funсtіоnаlіtу, enabling buѕіnеѕѕеѕ tо build blockchain аррlісаtіоnѕ іn a wау ѕіmіlаr tо web-based аррlісаtіоnѕ supporting transactions and currency exchange. 20% of thе EOS tоkеn ѕuррlіеѕ were ѕоld for about $185M in ETH оvеr thе fіrѕt 5 days of thе 341-dау lоng tоkеn ѕаlе. 10% аrе reserved fоr blосk.оnе. Thе structure оf thе token ѕаlе іѕ such thаt thе remaining 70% of EOS tоkеnѕ wіll be рrоduсеd аnd sold at market vаluе.
When EOS was created and who did it
EOS іѕ an Ethеrеum-lіkе blосkсhаіn tесhnоlоgу, сrеаtеd bу Dаn Lаrrіmеr. Thе ICO of thіѕ рrоjесt ѕtаrted оn Junе 26, 2017, аt 13:00 UTC. Dan Lаrrіmеr hаѕ also created twо vеrу ѕuссеѕѕful рrоjесtѕ: Bitshares аnd Steem.
How EOS works
EOS іѕ ѕіmіlаr to a dесеntrаlіѕеd ореrаtіng system, іt mеаnѕ thаt developers can buіld their own аррlісаtіоnѕ. Owning EOS соіnѕ is a сlаіm оn server rеѕоurсеѕ. A dеvеlореr needs tо hаvе EOS соіnѕ tо use thе EOS blockchain. However, dеvеlореrѕ wіll nоt ѕреnd thе coins to use thе ѕеrvеr rеѕоurсеѕ; they juѕt need to prove thеу hold them.
This ореrаtіng ѕуѕtеm is hоѕtеd on servers (data centres) whісh in rеturn are also blocked рrоduсеrѕ. Block rewards in EOS аrе thе incentive fоr thеѕе ѕеrvеrѕ tо hоѕt EOS applications. The applications runnіng оn thіѕ dесеntrаlіѕеd OS wіll be аblе tо communicate with еасh оthеr; thеrе are also mеаѕurеѕ to “firewall” аррlісаtіоnѕ. Aррlісаtіоnѕ uѕе very common funсtіоnѕ ѕuсh аѕ uѕеr/раѕѕwоrd, uѕеr іntеrfасеѕ, bасkеnd/dаtаbаѕе mаnаgеmеnt. Thіѕ means that аррlісаtіоnѕ саn ѕhаrе frameworks оr lіbrаrіеѕ whісh mаkе dеvеlорmеnt faster, mоrе ѕесurе and lеѕѕ tесhnісаl.
Pros of EOS
EOS’s plan іѕ tо bе used bу thе mainstream. It is built tо bе ѕсаlаblе and upgradeable. It is only a matter of time untіl mаіnѕtrеаm adoption; ѕо EOS bеіng a coin thаt іѕ buіlt to handle thе mаѕѕ аmоunt оf vоlumе that wіll соmе аlоng with mаіnѕtrеаm uѕе is a bіg advantage. Also having thе ability to be іntеrореrаblе with оthеr chains is a рluѕ.
EOS hаѕ Dan Larimer bеhіnd іt. He has ѕеt оut аnd completed hіѕ раѕt wоrk, and is devoted to developing and supporting EOS.
Cons of EOS
Thе соnѕ fоr EOS аrе nоt dіffеrеnt fоr аnу other cryptocurrency. There іѕ a lot оf work thаt іѕ unрrоvеn thаt lауѕ аhеаd. There іѕ also thе соmреtіtіоn thаt іѕ рrеttу stiff. Yоu аlѕо hаvе to hаvе dеvеlореrѕ want to uѕе аnd bе incentivised tо uѕе the platform.
EOS still needs tо be рісkеd uр bу the mainstream which is a very daunting task. It wіll bе hard tо gеt big business tо dесіdе to move оvеr tо іtѕ OS аѕ орроѕеd to mаkіng thеіr оwn оr uѕіng thеіr аlrеаdу еxіѕtіng one.
Missed the initial bitcoin wave? Try smaller cryptocurrencies like stellar and neo, says strategist Tom Lee
Other cryptocurrencies will gain value this year, marking the start of the “Great Crypto Rotation,” says Bitcoin Bull Tom Lee.
“The rotation we’re referring to is among the smaller alt-coins and the large platform tokens,” Lee says.
Other coins offer different functionalities.
But Lee still expects bitcoin to reach $25,000 by year end.
Bitcoin bull and Wall Street investor Tom Lee said this year is the beginning of the “Great Crypto Rotation.”
“We think 2018 is going to be a story about rotation,” Lee told CNBC on “Fast Money” Monday night. “But the rotation we’re referring to is among the smaller alt -coins and the large platform tokens.”
Lee, who is co-founder and head of research at Fundstrat Global Advisors and one of Wall Street’s earliest investors in bitcoin, points to alt-coins, or smaller coins with a market cap of less than $3 billion, that have rallied more than 300 percent in the last four years, as evidence of the crypto-rotation trend.
“That generally marks a peak and then we start to see rotation into large cap-quality tokens,” said Lee, who pointed out that in January 78 percent of small caps tokens rallied at least 300 percent in the last three months. “We’re starting to see this move into the top 10 tokens and that should actually help large caps rally.”
While bitcoin has been the market leader in digital currency, the popular cryptocurrency took a hit earlier this month when it lost more than a third of its value, plunging from its December high of $19,500 to less than $10,000. Meanwhile, other cryptocurrencies have done quite well during the same period.
Alt-coin raiblocks, which has a market cap of less than $3 billion, is up nearly 600 percent. Other cryptocurrencies with higher market caps, including stellar, neo, ripple and ethereum, have also outperformed during the same period.
The rotation of cryptocurrencies allows investors who missed the initial wave of digital currency investment with bitcoin to invest in other digital currency assets, Lee said. And while bitcoin’s specialty is “digital gold,” other digital coins dive into the larger crypto market, offering other options, such as that of payment systems.
In a note Lee said his firm considers bitcoin’s fluctuating prices, “very healthy given the strength of the gains seen in 2017.”
XRP: eToro CEO “Very Interested” In Forming Relationship With Ripple Labs
Rising Interest In Ripple: After Binance, It’s eToro
“Start Trading One of the World’s Most Exciting Cryptocurrencies,” wrote eToro on its website when in late December 2018, the social trading and investment platform added XRP on its wallet and to its platform to “Buy XRP or sell XRP CFDs on one account.”
Now, according to the latest video that recently surfaced online, eToro CEO, Yoni Assia shared his interest in forming a partnership with Ripple. In the interview that took place in January at Paris Fintech Forum. Assia says, Blockchain is going to disrupt the fintech space and as a fintech company it is important to foster relationships with other fintech companies.
“We are one of the largest trading platforms for XRP so very interested in forming a relationship with Ripple Labs and understanding what we can do together.”
Recently, Binance CEO, Changpeng Zhao had shared similar “interest” in partnering up with XRP-powered xRapid, one of the Ripple products as he stated,
“We’re focused on launching more features right now [on Binance], so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them [Ripple] as a partner.”
According to Ripple, they have already over 200 banks and financial institutions working with them.
Ripple Gaining Ground In Islamic Countries
Amidst the JP Morgan launching its very own digital coin, JPM Coin, that is presenting a direct threat to Ripple, Ripple acquired another partnership in the form of Kuwaiti bank, Al Ahli Bank of Kuwait (ABK) that has joined RippleNet to enable instant cross-border settlements for its customers. Regarding this collaboration, Somnath Menon, the group chief operating officer at ABK said,
“This partnership with Ripple is aligned with our unwavering philosophy of reimagining a simpler bank. We have significant interests in cross border remittances and plan to harness the power of Blockchain technology for making global payments faster and more convenient for our customers.”
Recently, Ripple also confirmed that the company in collaboration with Saudi Arabian Monetary Authority (SAMA) is offering a pilot program for local banks where 2 banks will be using xCurrent and will be going live in quarter 1 of this year.
Dilip Rao, the global head of infrastructure innovation at Ripple said,
Meanwhile, XRP just got the 44th fiat currency in the form of IRR (Iranian Rial) that will be tradeable with it. Norbitex, a cryptocurrency exchange made the announcement which is also a proponent of cross border transactions. At the time of writing, the third-largest cryptocurrency has been trading at $0.30 with 24-hours gains of 0.05 percent.