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Casper Network (CSPR) Token Launches on Multiple Exchanges, Meets Extreme Volatility

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by Benjamin Godfrey · 3 min read
Casper Network (CSPR) Token Launches on Multiple Exchanges, Meets Extreme Volatility
Photo: CasperLabs / Medium

As observed on various Casper’s social media channels, there is a mixed feeling in the community following the Casper token launch.

The Casper Network native token CSPR has launched on multiple trading platforms including Huobi Global, Gate.io, OKEx, and AscendEx, more than a month after the network Mainnet launched. The CSPR token which was offered to the project’s growing community in a presale that ended on April 7th at $0.015 opened for trading on Gate.io at about $70 saw a massive upsurge to a high of $379 before correcting.

Many have said the digital currency ecosystem is in an altcoin season, implying a burgeoning embrace and corresponding growth in the prices of various altcoins. Taking a cue from Ethereum (ETH), the world’s second-largest cryptocurrency which has grown by over 15x since the start of the year, most altcoins including new projects have seen a corresponding remarkable growth.

From the very low presale price of CSPR coins and its opening price on the exchanges today, the digital currency met with very pervasive volatility, and its price is currently trading at $4.77 on OKEx at the time of writing.

Fundamentals Meet Massive Interest as Casper Network Launches

Many projects have been launched in the past four months as the cryptocurrency ecosystem carried over a growing interest from last year’s DeFi boom. While many tokens have been launched on the leading blockchain networks including Ethereum, Polkadot, and Binance Smart Chain amongst others, the Casper offering carves a new niche for itself with good fundamentals.

The Casper Network is an institutional-grade decentralized finance (DeFi) protocol built as a standalone blockchain of its own. The blockchain seeks to right the wrongs of existing blockchain infrastructures including but not limited to low fees, and scalability. Many analysts have described Casper as a viable substitute for the proposed Proof-of-Stake (PoS) network of the Ethereum blockchain dubbed ETH 2.0.

Casper is also energy-efficient, remarkably up to 136,000% when compared to existing blockchain infrastructures around today. The opportunities the Casper protocol has presented, backed by the backing from its major partners have fueled the massive interest from the broader community. Casper’s major partners include BitGo, Ledger, CoinList, and other prominent names in the blockchain and cryptocurrency ecosystem.

Casper Network Community Expresses Mixed Feelings Following the CSPR Token Launch

As observed on various Casper’s social media channels, there is a mixed feeling in the community following the Casper token launch. While the Presale came with four options and varying lockup periods, those who participated in Option 3 were expecting to start trading their tokens at this time. However, CoinList, the exchange where the presale took place has dampened expectations based on the inability of users to withdraw their tokens for trading.

CoinList noted the Casper presale drew the largest interest that almost broke its servers. While the current situation has caused a remarkable agitation, the promises of the project and the responsive nature of the project executives give an inclination that the Casper network is off to a great start.

Altcoin News, Blockchain News, Cryptocurrency news, News
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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