Electroneum is a brand new British cryptocurrency launched via an Initial Coin Offering (ICO) which started on September 14th.
Electroneum have nearly reached the $40m US dollars that they aimed to reach. Electroneum have raised $38m as of today. They have had over a quarter of a million users join the Electroneum Token Sale! It must be one of the largest tokens sales by user number in history – if not THE biggest. Bancor raised 140m+ on just 10,000 contributors. Tezos raised $240m on 22,000 contributors. Electroneum have more than 110,000 contributors who’ve made over 160,000 transactions from over 250,000 users who have registered on the token sale manager.
The Electroneum team have reconfirmed that there is going to be a hard cap at $40m US dollars.
Therefore the token sale will almost certainly be closing early, as soon as the value of the Bitcoin and Ethereum raised by the sale of Electroneum exceeds $40m US Dollars.
The rationale behind this decision is as follows
1. To prevent early access to Electroneum purchases. Electroneum has built an incredible momentum in the market. Clearly it is important this continues past the token sale, and into the exchanges upon listing. The management team believe this will pivot into further excitement for the app and for mass user adoption of Electroneum.
2. The exchanges are likely to list Electroneum quickly, due to pent up demand, which will equate to transactions and new users for the exchange(s) that list Electroneum.
3. It gives a clear signal to the market that the team are focused on the long term goals and success of Electroneum and not the proceeds of the token sale.
As soon as the $40m US goal is reached they will close the ability to make purchases via the Electroneum token sale manager and make an announcement on Telegram, Facebook, Twitter and the Electroneum website.
Richard Ells, The Founder of Electroneum said:
“We’d like to thank everybody who has contributed to the Electroneum Crowd Sale (token sale) and we look forward to moving on to phase 2 and the launch of the full app on November 1st 2017”.
Electroneum Ltd will never sell Electroneum coins again once they get Electroneum listed on Exchanges. The entire market will consist of trading with existing Electroneum owners.
If you still want a chance to buy some Electroneum you have a very limited time left. Visit their website to make your purchase.
So go and get yours now!!
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Tags: Cryptocurrency, Electroneum