Tezos Continues Plummeting as Investors Shy Away
Even after announcing the new platform's genesis block chain, Tezos is showing no positive signs after losing almost 75 percent of its price within a few days. As with any new cryptocurrency, the current U.S. regulations regarding securities managed to avert investor attention, with some even opting to completely drop the token all-together and avoiding the KYC procedure.
After maintaining a market price of four dollars, the yet-to-be-released currency saw a downward spiral towards $1.40 after the secondary main-net's launch was made public. Early Friday saw another drop, with the coin falling to $1.10. Tezos has lost sixty percent of its prince in only one week and it only seems to go on.
A few are optimistic towards the token, saying that the significant drop in price is momentary and Tezos are bound to make a comeback. Many are commenting on the current low value and how it makes a future investment much more profitable. Some are cashing in on the downtime, buying up Tezos for once the tensions clear.
Many investors are still showing optimism and support, holding onto their assets while waiting for the technology to advance and introduce them to the new listings of developing exchanges.
Although Tezos' cap on the market has sunk under the one billion mark at $766M, the community continues to hold high hopes for the coin and even a possibility of it climbing into the leading five cryptocurrencies.
One hindering factor is the mandatory KYC regulations by the U.S and the many investors opting to step out and avoid the procedure overall since it may deny them from purchasing tokens as well as circulating rumors of a tax.