price at bittrex is kinda slow moving. i was expecting the usual big dump, then big pump again before a slow decline downwards. i wanted to daytrade since i missed this ICO although the price did not multiply the investments like usual.
they raised 150mil.
with the total supply being around 80mil, that puts the bancor token sale price at the $2 range.
Its already up nicely, I just think Bittrex fucks with people on how they launch the token price confusing people on what price to buy at. At the current price, its 100% up basically.
Who knows where it will go from here on. I personally believe it will drop back down to $2~
Lol you must be new.
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.