Ethereum Based Gnosis Triples In Value

Ethereum Based Gnosis Triples In Value

Gnosis trading has opened at Kraken and Poloniex with the token tripling in value, now trading at around $90 up from its ICO sale price of $30. The pr

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Gnosis trading has opened at Kraken and Poloniex with the token tripling in value, now trading at around $90 up from its ICO sale price of $30. The project has reportedly been evaluated of about $300 million.

According to information from coinmarketcap.com, Gnosis (GNO) has a market cap of $125,792,918, a 24-hour volume of $1,555,940 and a total supply of 1,104,590 GNO as of 11 May.

IMAGE: coinmarketcap.com

The token sale has reportedly used a Dutch Auction method in combination with a cap of around $ 12.5 million. In this way, Gnosis holds around 9 million tokens, making it 10 million in total. As they say, these tokens have been locked up for one year, with only near 1 million available on the market now.

“These sales need to slow down considerably and take far more than just ten minutes to complete, but no one knows how. A somewhat intuitive and perhaps obvious method might be to just cap how much any one address/person can buy. Say, at $10,000. Sure, they could get around it (maybe make it IP based?). They could divide that $2 million into 200 $10,000 addresses or get many VPNs, but that must be slower than a one off $2 million, thus perhaps allowing others to get in as well.”, as the report in cryptocoinnews.com commented.

“That’s because there is clearly much demand here and the reason for that demand is probably because these things keep going up and up. Golem, for example, has gone up 4x on top of eth’s own appreciation of some 7x.”, added the author.

These projects are said to create new things like the ICO model. It remains to be seen, if these innovations will fail.

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