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Past-ICO Review: Restart Energy

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  • Eric Eissler
    ⭐ Features

    Another power company on the crypto bus, revenues are good, but third-party support is out of the question

Past-ICO Review: Restart Energy
Cover image via u.today

The definition of success in the crypto world still has not really been clearly defined: is it token price, market cap, actual revenues, or number of followers on social media? For the cryptosphere the judges still seem to be out on that verdict. However, when a company is growing and taking in revenue then that is a tell-tale sign of a something being done right, and dare I say it, a success?! Well, let me not mislead you dear readers, Restart Energy is an already existing power company that has jumped on the bandwagon and launched a cryptocurrency to garner attention, capital, and well-taking advantage of the crypto wave to promote itself.

Financials

The ICO raised $30 mln in one day, Jan. 23. While the token is a utility token there has not really been much swing in price as it debuted at $0.06, spiked at $0.07 and is now trading at $0.02. As a utility token, this is to be expected and it’s a down market on top of that. The market cap is at $9.9 mln and there are 422 mln tokens in circulation out of 485 mln, so there is no more room left for more tokens to be released.

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Team

Armand Doru Domuta- CEO & Owner

Domuta is also the president of the Romanian Blockchain Association. Before getting into Blockchain his career has been focused on the energy industry, which has led him to where he is now at the convergence of energy and Blockchain.

Renato Doicaru- Co-founder

Doicaru has been a successful leader in the power generation industry, where he has held several jobs in plant management.

Andrei Avram- CTO

Avram has a passion to merge the business world with the tech world and to create a greater business engine to drive the economy. He has had much professional experience in tech and business. He is part of the Romanian Blockchain association and he also founded a school to teach to the younger generations.

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Lights down low

Since U.Today has been able to review several power generation companies in the cryptosphere, there is concern that could be legal problems relating to the tokens in the future, because they may be considered a security, given that token holders are receiving energy as a reward for holding the tokens.

WePower uses a similar model of rewarding token holders with energy and so far. European regulators are happy with this, but things shift quickly in the crypto world and there is some concern that regulators might change their minds on this.

Another potential issue is that Restart Energy is not allowing any third party apps on the RED Platform, however, they are open to possibly allowing third parties in the future. Power Ledger is allowing third-party apps, which could help reduce the level of resistance they feel from existing players in energy markets.

Without the third-party app support, it might be challenging to for Restart energy to further expand and compete in the market.

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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.

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XRP Liquidity Index Surges Past 9 Bln, Leaving Previous All-Time High Behind

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  • Yuri Molchan
    📰 News

    The Liquidity Index for XRP paired with MXN reaches another all-time high of 9 mln, taking the XRP adoption in this sector to a new level

The XRP liquidity index on Mexican exchange Bitso exceeds 9 bln
Cover image via 123rf.com

The Ripple-invested Mexican Bitso exchange is a partner of Ripple and MoneyGram in the Mexican On-Demand Liquidity corridor launched this year. Bitso is the largest Mexican exchange and its participation in the Ripple and MoneyGram’s project has been successful.

The Liquidity Index for XRP in Mexico adds another million

The Liquidity Index for the XRP/MXN pair is growing fast, leaving behind one all-time high after another.

Today, on December 14, this index has taken a new level and got over the 9-mln mark with the daily progress being 92 percent.

The highest liquidity mark achieved previously was slightly under 8,568,000.

Another active ODL corridor leads to the Philippines through the local Coin.Ph exchange and its liquidity index has also risen for the first time recently.

XRP gets mentioned by the US government

As reported by U.Today, the US governmental agency, the Consumer Financial Protection Bureau (CFPB), has for the first time mentioned XRP in its document, describing the asset as a reliable remittance method which makes the process much faster and cheaper for companies that have a limit on conducting money wires each year.

The document called Ripple and XRP a safe harbor. It also called Ripple one of disruptors of the remittance industry, as well as the new SWIFT’s GPI system, a rival of Ripple.

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Large XRP transactions keep pestering the community

Recently, a large XRP transaction was spotted by the Whale Alert Twitter account when a whopping 150 mln XRP was sent from one anonymous account to another.

Many in the XRP community often criticize those who do them, with Ripple getting the largest portion of criticism, when every month it releases 1 bln XRP from its escrow account. The community believes that these dumps keep the coin’s price low.

There may be a grain of truth in this, since the XRP price has been unable to cross the $0.30 threshold for a long time and recently, after dropping below $0.22, it has been floating in the $0,21 area.

Even the much-expected SWELL conference, annually conducted by Ripple, did not push the XRP price to the North, breaking expectations of many investors.

XRP price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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