Every day we see new coins in the market, and most of them are giving huge returns in the initial days. One such coin is the CSPR token that has increased 23 times in a week. It has yet to be listed on major exchanges, and the surge shows the potential future of the token. The IOU process that the token went through is one of the reasons that CSPR has increased so much in a few days. In an IOU process, the token is allowed to be traded before getting listed on exchanges and launched officially.
About the CSPR token
CSPR is based on proof of stake blockchain and is a very new project. The coin’s price has increased by 93333% from the ICO price of $0.03 on 7th April. And very recently, the price of the token has taken a huge jump. It was trading at $1.15 on 6th May, and in just 4 days, that’s on 10th May, the price of the token touched $28. The price increase can also be attributed to the fact that many big exchanges are rumored to list the token soon.
The news that the token will be available on Huobi soon led to this incremental price rise of the coin. Huobi is currently the 6th largest crypto exchange globally, and this means that listing on the platform will bring in heavy volume trading of the coin.
Strong fundamentals and partnership
Apart from the hype that has been taking the coin to new levels, there are some other strong reasons for this success. The token has been doing serious partnership and development works for the future of Casper. It has a strong base and has the chance to grow in the future exponentially. Some of the big names that it has already partnered up with are TerraVirtua, BIGtoken, WISeKey, and Lead ventures.
The token has many use cases that make it possible for the future to be really bright for them. They have also been expanding in Africa and the Middle East, where the markets are still under-tapped and have a huge growth chance.
Should you buy CSPR now?
I think it is a little late to purchase the token as it has already pumped so much. But yes, do note that if you can get it in a dip, then sure go for it. The project seems promising, and the partnerships are strong. We can expect more exchanges to list the token soon and the price to go even higher. As of now, the market is in a dip, and it could be a good time to purchase the token.
What are your thoughts on the price increase of the CSPR token? And do you think that it is a good time to invest in the same? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.