The slide of Tezos (XTZ) has accelerated, and the asset is now trading significantly below the price of its initial coin offering (ICO). The token sale was conducted at $0.51 per XTZ, and bonuses lowered the effective price to $0.42. The regular ICO price awarded 5,000 XTZ per Bitcoin (BTC). Currently, 5,000 XTZ cost around 0.5 BTC after Tezos dropped from $0.38 to $0.34 on Wednesday at around 7:30 UTC.

In the past month, the asset has unraveled from levels near $1.30, and there are no signs of recovery.

XTZ met with trouble from the start. While speculative trading pushed the price as high as $6.66 on January 7, 2018, the subsequent crash led to a much lower range. Even the official launch of the mainnet did little to stem selling.

One drawback of the ICO participation was the fac…

This article appeared first on Cryptovest

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