Tezos (XTZ) Sinks Deeper below ICO Price Amidst Market Slump By Cryptovest

December 7, 2018
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© Reuters. Tezos (XTZ) Sinks Deeper below ICO Price Amidst Market Slump

The slide of Tezos (XTZ) has accelerated, and the asset is now trading significantly below the price of its initial coin offering (ICO). The token sale was conducted at $0.51 per XTZ, and bonuses lowered the effective price to $0.42. The regular ICO price awarded 5,000 XTZ per (BTC). Currently, 5,000 XTZ cost around 0.5 BTC after Tezos dropped from $0.38 to $0.34 on Wednesday at around 7:30 UTC.

In the past month, the asset has unraveled from levels near $1.30, and there are no signs of recovery.

XTZ met with trouble from the start. While speculative trading pushed the price as high as $6.66 on January 7, 2018, the subsequent crash led to a much lower range. Even the official launch of the mainnet did little to stem selling.

One drawback of the ICO participation was the fac…

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