TEZOS Under Pressure By Class Action Lawsuit And Community Hopes On Official Launch
One of the most promising ICOs in 2017, TEZOS, has still not overcome roadblocks and hurdles. The mainnet launch which is still being waited upon has been delayed by squabbles, lawsuits, and a rearrangement of the Tezos Foundation, which is also taking too much time.
The tokens, known as “tezzies”, have appreciated slowly in the past month from the latest lows, almost doubling in price. XTZ tokens trade at $4.76, depending on HitBTC and Gate.io exchanges. For a large-scale, high-publicity project, TEZOS trading is too low, to the tune of $600,000 per 24 hours.
This caused ICO backers to lose patience for being turned into reckless holders. For others, however, the forced HODL policy was a careless skin in the game, so the community ended up defending Tezos against a bout of lawsuits.
Regrettably, it was exactly the presence of a Swiss-based Foundation to ensure legality that is curbing loops in development. For TEZOS, this became dead weight, never allowing the speed needed in the crypto currency world.
It isn’t certain whether this will would result in a faster mainnet launch, but at least it shows the project has a strong community. In the case of TEZOS, a launch may mean a quick appreciation of the digital asset, with some seeing the price reach $100.
At this moment, the rumors of a launch at the end of May appears to be unconfirmed. The talk of a rogue launch by TEZOS code owner Kathleen Breitman has also reduced – and her Twitter has no updates on the project.
One thing is certain – if TEZOS succeeds, it has a chance of making it big but otherwise, it will continue testing the community’s patience.