The price of the token of the Casper Network blockchain platform (CSPR) reached $ 40 before the official start of sales in the secondary market and renewed its all-time high.
According to CoinMarketCap, the CSPR price has increased by 128,000% since the beginning of April, and by 171% over the last 24 hours. At the time of writing, the asset is trading at $ 38.5.
In March, the startup behind the project, Casper Labs, held a CSPR token sale on the Coinlist platform. At the last stage, which ended on April 7, investors bought the asset at a price of $ 0.03.
CSPRs are traded as debt tokens [I Owe You, IOU]allowing interested parties to conduct trading operations. A similar model was used by Polkadot (DOT).
After the completion of the token sale, the IOU of the project got to small cryptocurrency exchanges like BitZ. On May 10, Huobi announced the listing of CSPR.
The token price could be positively affected by the Casper Labs partnership: the startup entered into a partnership with Terra Virtua, BIGtoken, WISeKey and Lead Ventures.
The company also launched DEVvDAO, a platform designed to fund the development of open source applications on the Casper Network.
The DEVxDAO is represented by the ETA for all legal affairs and both the ETA and the DEVxDAO are completely separated from Casper. Casper is a sponsor of the ETA and the DEVxDAO is its beneficiary
— Casper (@Casper_Network) April 3, 2021
In 2019, Casper Labs hired Vlad Zamfir as a consultant. In the white paper of the project, the name of a well-known developer is mentioned once.
Initially, the startup experimented with Casper’s solution for the Ethereum network, but then focused on developing its own blockchain.
In October 2020, Casper Labs raised $ 14 million following a private token sale.
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