Status ICO Generates Over $60 Million, Fails to Deliver, Triggers Ethereum Overload
"A decentralized messaging app called Status — built on the Ethereum blockchain — raises over $60 million dollars during its first coin offering campaign. but, as soon as the sale initialized the network became chokeed, and the Status team was not able to immediately provide everybody with their promised coins."
A trustnodes.com article covered :
"The sale was planned to last until 4th of July, but the cap of 300,000 eth was quickly reached during a frenzy period which broke down ethereum’s network, creating much congestion, backlog and some shenanigans."
"Ethereum’s Network Overload Causes Service Suspensions; Its Transaction Price Also up"
They tweeted,
"Ethereum’s Price Begins to decrease; Ecosystem Greed, and Healing the Network"
"I don't know when Ethereum will come back and healthy online, but the importance of the mad rush for ICO speculation have been severe. According to Coinmarketcap stats, the price of Ethereum has begun a plunge. It is down at 12.04% and still going down, at the time of writing the article."
"What Do you think about Status? will it recover? Will Ethereum continue spiraling downward? Share your thoughts below!"
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thought about investing not sure if i will now
I think Ethereum blockchain will recover, but it was expected that Status ICO was a suspicious one. I planned to invest some coins into it but after reading some comments on the ICO itself I refused to do so. It seems that was a right decision.
It was hard to not participate, but now I'm glad I was strong enough to resist :D
I am here with you, will see if we were right and ICO wasn't worth it
follow me i will voted every time
done
Followed u
Nice article. upvoted
Good to know. Thanks for the post.
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I was wondering what was causing those rough last couple days towards ETH's value, didnt look into it too much though. But hey, gotta look at it as a flash sale with the certainty of a rebound and further growth!