If you’ve read my posts before, you know that I’m generally trying to find promising ICO’s before they launch because it’s better to catch coins early. But I’m going in a bit of a different direction today. There’s a coin that’s been making a lot of noise over the last week that I think is going places. The more research I do on them, the more I’m starting to think that I’ve found a gem that’s been flying under the radar.
The coin is called IOST and I don't understand why there isn’t more hype about them. They’re backed by Sequoia Capital which is the equivalent of being backed by Y-Combinator in terms of connections and money. We all know how useful that type of backing has been for some cryptocurrencies but I’ve been seeing some pretty weak, random arguments from jealous competitors trying to make you unnecessarily worry.
Anyway, they made an announcement that they would be releasing their GitHub on April 9th. Then IOST said that they would also be having a surprise announcement the same day. Remember back when Ripple first launched and people were fearful about them? They announced a coin lockup in order to reassure the crypto community that they were legitimate actors who intended to build something meaningful in the longterm. They did that with a buildup post, kind of similar to what IOST is doing right now.
I think the big announcement they’re going to make this week is that they’re doing a massive coin lockup. I’m honestly not sure how much that will effect the price right now because the market is just so depressing. But in theory, it’s the type of news that should really boost a coin’s price. It lowers the circulating supply dramatically and for that reason I think this will be a good trade in the short-mid term.
