IOST Forms Rising – Big March 10th
After having raised $31.3 million in its January 2018 crowdsale, the team at IOST have not shared much development news for almost a year — much to the dismay of its supporters.
However, the company recently revealed through their Medium blog that their testnet would be launched by December 2018 and their mainnet by February 2019. However, the mainnet launch was then delayed to March 10, 2019.
IOST Forms Rising Wedge Before Big March
The announcement was followed by a surge of activity in trading volumes across all leading IOST market pairs. Leading up to its initial mainnet launch date, the charting patterns showed an exponential growth that sometimes pushed past +48% within 24 hours.
The initial excitement in the community was enough to propel the market capitalization up to 100 million US dollars. However, when the first deadline for the mainnet launch was missed, the IOST markets instant lost nearly 25 million US dollars of market capitalization, so this is somewhat of a recovery.
Since the massive dip, a bearish rising wedge leading up to the mainnet launch date can be observed. Traders are expecting another drop in prices after the launch but this time it should be much more gradual.
Unless some additional adoption news is followed by the mainnet launch, the market capitalization may slide back down to $45 million, with IOST form prices potentially collapsing down to $0.0037 – a value not seen since late last year.
— IOStoken (@IOStoken) February 26, 2019
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