While Crypto markets have been see-sawing throughout the past week, bleeding red for most of the period and then running up sharply in the past 48 hours, a new pre-ICO option has been posting stellar gains, prompting comments that it may soon become the most valuable form of digital asset by unit price.
COEVAL, a token issued by Monkey Capital ahead of its $1 billion ICO in August, has risen 13,900% in the last 10 days, posting the best performance in the Crypto markets overall.
The token, which began trading at $2.50 a little less than a fortnight ago, is now selling for up to $380 on WavesPlatform’s Digital Exchange after getting green lighted as a verified asset along with MNY tokens, which will be sold at the upcoming ICO.
COEVAL is available for trading right now on Waves Digital Exchange, and will soon be launched on Bittrex and other exchanges. The token gained has wild popularity in recent weeks in a market which has otherwise posted sluggish returns after a huge rise over the first half of 2017.
COEVAL is the brainchild of Daniel M. Harrison, Monkey Capital’s co-Founder. Limited in number to just 49,000 units after the majority of the original 100,000 tokens were burned in order to suppress supply, 1 COEVAL gives the holder the right to 0.01% of the entire ICO’s issuance of MNY tokens, which will be distributed after September 9th, when the ICO closes.
A thriving market in COEVAL is already underway, with several hundred thousand dollars of the tokens traded a day against Bitcoin and Waves. In Bitcoin, COEVAL are selling for 0.1375 BTC and in Waves, for 126.99 Waves.
The big rises combined with the ICO’s complex White Paper have pundits excited.
Radio show host Chris Waltzek invited Harrison back for a second time on Goldseek Radio this week and described the event as “the most important interview we’ve had on this show in over 12 years.” Walktzik, who has interviewed many stars in finance including Jim Rogers and other prominent fund managers, speculated that the tokens will become “the Berkshire Hathaway stock of Crypto, eventually worth more than $150,000 a token.”