Crypto-Users

No matter a short-term trader or a long-term one, the cryptocurrency industry is unpredictable and full of surprises for both. Although the cryptocurrency industry has gained much growth and adoption rate from the mainstream sector, yet it is a highly volatile market.

The high volatility factor is the major reason why cryptocurrencies are full of risks. This factor makes cryptocurrencies a huge challenge for investors and traders alike. Even the new projects in the cryptocurrency sector have to go through this cycle and have to be stabilized.

In the case of cryptocurrencies, the stability factor is the volatility that is currently being experienced in the cryptocurrency sector. In order to tackle and overcome this challenge, several cryptocurrency startup projects proceed with get themselves enlisted as token IOUs.

The new crypto startups do this in order to let the traders have an understanding and taste of the new cryptocurrencies before they are even officially released. This process allows the investors and traders to get a hang of the trading experience of such cryptocurrencies.

At present, the best example to demonstrate the token IOUs process is one of the top cryptocurrency assets, Polkadot (DOT). DOT was enlisted on exchanges even before it was officially launched into the market. However, the users on the cryptocurrency exchanges got to know about it and started performing pre-launch trades for DOT.

Casper (CSPR) is a new cryptocurrency project that has followed the footsteps of Polkadot (DOT) in dealing with the volatility problem. Casper (CSPR) is a blockchain platform that runs on the proof of stake consensus protocol.

Casper (CSPR) is reportedly one of the most successful (PoS) consensus protocols that have benefited significantly from the token IOUs process. The project had launched its initial coin offering (ICO) back on April 7, 2021.

At the time when Casper (CSPR) offered its initial coin offering (ICO), the investors/traders managed to acquire it at a price of $0.03. Since then, the price of Casper (CSPR) has grown higher and has been gaining on its price since then.

Although Casper (CSPR) price experienced gradual growth since the start, yet it really picked up the pace from May 6 until May 10. In a matter of 5 days, the price of Casper (CSPR) has experienced a 1780% increase. On May 6, the price of Casper (CSPR) was an all-time low of $1.49 per token and by May 10, its prices were at an all-time high of $28.01 per token.

One reason for Casper’s success is its listing on some of the most prominent and major cryptocurrency exchanges such as Huobi. At Huobi, the digital asset experienced great adoption and its trading volume went up right after the ICO.

The second reason is the protocol’s partnerships with several prominent names in the cryptocurrency industry. Some of the major firms CSPR collaborated with include Lead Ventures, WISeKey, BIGtoken, and Terra Virtua. These firms have also helped Casper gain trust from the investors and traders.

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