The Fast and The Furious
TenX’s ICO finished nearly as soon as it started, with the project raising a whopping 200,000 eth in around ten minutes, which will be used towards the further development of a crypto debit card, a new protocol called Commit and to apply for a banking license.
The Gap Down
The popular exchange Hitbtc was trading IOUs of the token at 50-60x the ICO price before the actual assets hit the real exchanges but that quickly got repriced! Tenx hit the Bittrex exchanges at roughly $1.12-1.20 per token, which was only 12-20% higher than the ICO price of $1.
A Growing Trend
This trend of popular ICOs being over hyped and underperforming is starting to because a new trend- one that I have experienced first hand. I was able to get into the ICOs of both Bancor and Status and saw how the IOU prices on HitBTC were nowhere near the actual live exchange prices. I have sense disregarded the pricing of IOUs and strictly wait for free-markets to price the ICOs and so should you!
Questions/Feedback
- Did you want to get into TenX's ICO?
- Is this going to be a growing trend with ICOs going forward? Less and Less 5x-10x initial returns.
- Is TenX a good buy now?
