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What is the issuance price of LOOM coins?
The LOOM coin's issuance price during its 2017 ICO was $0.10, with the ICO raising approximately $7 million.
Nov 28, 2024 at 12:57 pm
What is the Issuance Price of LOOM Coins?
Introduction
For those unfamiliar with the term, an issuance price refers to the initial price at which a newly issued asset, such as a stock or cryptocurrency, is offered to the public. In the context of LOOM coins, understanding their issuance price is crucial for gauging their market value and potential return on investment. This article delves into the details of LOOM's issuance price, providing comprehensive information for investors and enthusiasts alike.
LOOM Network and LOOM Coin
Launched in 2018, LOOM Network is a blockchain platform that enables developers to build and deploy scalable decentralized applications (dApps) on Ethereum. The platform's native token, LOOM, serves multiple purposes within the ecosystem, including staking, governance, and transaction fees.
Initial Coin Offering (ICO)
LOOM coins were initially distributed through an ICO conducted in December 2017. The ICO offered 1 billion LOOM coins at a price of $0.10 per coin. The ICO raised approximately $7 million, with participants able to purchase LOOM coins using Bitcoin (BTC) or Ethereum (ETH).
Post-ICO Token Distribution
Following the ICO, the remaining LOOM coins were distributed as follows:
- 20% to the LOOM Foundation for ecosystem development
- 20% to the team and advisors
- 10% to early investors
- 50% reserved for future use
Current Market Price
As of June 8, 2023, the market price of LOOM coin is approximately $0.25. This represents a significant increase from its issuance price of $0.10, indicating a positive return on investment for early ICO participants.
Factors Influencing Issuance Price
Several factors influence the issuance price of a cryptocurrency, including:
- Market demand: The level of interest and anticipation surrounding the project can drive up the issuance price.
- Token utility: The perceived value and functionality of the token within the ecosystem can also impact its price.
- Market conditions: Overall market trends, such as bull or bear markets, can affect the issuance price.
- Token supply: The total number of tokens issued can influence the initial price.
Significance of Issuance Price
The issuance price of a cryptocurrency serves as a benchmark for future performance and can provide insights into investor sentiment and market expectations. It is a crucial factor to consider when evaluating the potential return on investment.
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