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TEZOS Pressured by Class Action Lawsuit, Community Still Hopes on Official Launch

TEZOS Pressured by Class Action Lawsuit, Community Still Hopes on Official Launch

TEZOS, one of the most promising ICOs in 2017, is still not over roadblocks and hurdles. The mainnet launch, still expected to happen, has been delayed by squabbles, lawsuits, then a rearrangement of the Tezos Foundation, which is also taking a long time.
The tokens, known as “tezzies”, have appreciated gradually in the past month from recent lows, almost doubling in price. XTZ tokens trade at $4.76, relying on HitBTC and Gate.io exchanges. For a large-scale, high-publicity project, TEZOS trading is extremely low, to the tune of $600,000 per 24 hours.

This has caused ICO backers to lose patience, for being turned into inadvertent holders. For others, however, the forced HODL policy was an inadvertent skin in the game, so the community ended up defending Tezos against a bout of lawsuits:

Unfortunately, it was precisely the presence of a Swiss-based Foundation to ensure legality that is hampering loops in development. For TEZOS, this turned into dead weight, not allowing the speed needed in the cryptocurrency world.
It is unknown whether this would lead to a faster mainnet launch, but at least it shows the project has a strong community. In the case of TEZOS, a launch may finally mean a rapid appreciation of the digital asset, with some seeing the price easily reach $100.

For now, the rumors of a launch at the end of May seem to be unconfirmed. The talk of a rogue launch by TEZOS code owner Kathleen Breitman has also subsided – and her Twitter has no updates on the project.
One thing is sure – if TEZOS makes it, it has chances of making it big, but otherwise, it will continue testing the community’s patience.This article appeared first on Cryptovest

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