A few days ago, I started looking at the cryptocurrency BlockCAT (CAT).
According to their website, "BlockCAT lets anyone create, manage, and deploy smart contracts on the Ethereum blockchain with just a few clicks. No programming required."
I've heard a number of good things about BlockCAT, and I was impressed with the low Total Supply of just over 9 Million, which is a really nice low number, which is often a good indicator of rarity and value.
In the past 24 to 48 hours, the price appeared stable in the $2.15 to $2.49 range, after having reach $4.79 in the past week!
Then, in the past several hours, the price DROPPED LIKE A ROCK - from $2.15 to $1.59 (at the time of this posting).
So, now, I'm glad I didn't buy in earlier today, when I was considering it.
From reading comments about BlockCAT, and watching a Youtube interview with their CEO, Eric Huang, it looked like a very good project and investment.
But, with today's precipitous price drop, I'm wondering, WTF!?
I've been searching for answers, as to what caused this price drop, but no answers yet.
It appears that BlockCAT is currently only on one exchange - EtherDelta, so that could be one problem - not enough exposure and options for people who don't use EtherDelta.
So, maybe a whale sold off a big chunk of CAT, crashing the price, and nothing to worry about. Or something scared off previous holders and a bunch of them sold off.
Unless there's something bad that caused the price drop, this could be a new opportunity to buy in relatively low.
Whatever the case, I love a good deal - so I'm going to keep an eye on this one, and try to figure out if this is a good opportunity, or if its the end of a dream of those who have invested already.
The BlockCAT website is here:
The Eric Huang interview can be seen here:
The EtherDelta site is: