Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture.
Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha
Lol. The price wont go down below 0.01eth. Not now. Period.
Bancor allocated around 120k eth as a buy back wall at ico price 0.01eth.
It wont go down below 0.01eth
https://blog.bancor.network/the-community-of-the-currency-9770087fde17'we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:
20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.
80% will be locked for two years in a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget, and after a 2-year period, any remaining ETH will be allocated pro-rata according to the “Use of Proceeds” chart in our Token Creation Terms.
