The Electroneum team have reconfirmed that there is going to be a hard cap at $40m US dollars.
Therefore the token sale will almost certainly be closing early, as soon as the value of the Bitcoin and Ethereum raised by the sale of Electroneum exceeds $40m US Dollars.
The value is currently approximately $37m US, as at 9.00 BST
The rationale behind this decision is as follows
To prevent early access to Electroneum purchases. Electroneum has built an incredible momentum in the market. Clearly it is important this continues past the token sale, and into the exchanges upon listing. The management team believe this will pivot into further excitement for the app and for mass user adoption of Electroneum.
The exchanges are likely to list Electroneum quickly, due to pent up demand, which will equate to transactions and new users for the exchange(s) that list Electroneum.
It gives a clear signal to the market that the team are focused on the long term goals and success of Electroneum and not the proceeds of the token sale.
As soon as the $40m US goal is reached we will close the ability to make purchases via the Electroneum token sale manager and make an announcement on Telegram, Facebook, Twitter and the Electroneum website.
We will, of course, follow up with interviews and press releases to the financial and disruptive press.
We’d like to thank everybody who has contributed to the Electroneum Crowd Sale (token sale) and we look forward to moving on to phase 2 and the launch of the full app on November 1st 2017.
Source:
https://electroneum.com/2017/10/19/token-sale-public-announcement/
