{"id":246729,"date":"2021-05-11T00:30:00","date_gmt":"2021-05-10T21:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/2-reasons-why-casper-cspr-iou-token-rallied-2300-in-one-week\/"},"modified":"2021-05-11T00:30:00","modified_gmt":"2021-05-10T21:30:00","slug":"2-reasons-why-casper-cspr-iou-token-rallied-2300-in-one-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/2-reasons-why-casper-cspr-iou-token-rallied-2300-in-one-week\/","title":{"rendered":"# 2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ab1e3525db\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ab1e3525db\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/2-reasons-why-casper-cspr-iou-token-rallied-2300-in-one-week\/#Major_exchange_listings_spark_a_frenzy\" >Major exchange listings spark a frenzy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/2-reasons-why-casper-cspr-iou-token-rallied-2300-in-one-week\/#Partnerships_point_to_significant_use-case_potential\" >Partnerships point to significant use-case potential<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move can make it a challenge for promising new projects that are looking to catch the momentum before the cycle plays itself out.<\/p>\n<p>This reality has led to some projects listed on exchanges in the form of token IOUs so that interested parties can get in on the trading action before the token is officially released. Polkadot (DOT) is one of the most well-known examples of a token that went through this process. <\/p>\n<p>Casper (CSPR), a proof-of-stake blockchain platform, is a relatively new project that has benefited from this IOU process, and its token value has made significant gains since the end of its initial coin offering on April 7 when early investors were able to acquire the altcoin for $0.03. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/2dffb2a1-42ca-4e0a-9891-c3de62107500.png\"><figcaption style=\"text-align: center;\"><em>CSPR\/USD 1-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/casper\/\"><em>CoinMarketCap<\/em><\/a><\/figcaption><\/figure>\n<p>Data from CoinMarketCap shows that the price of CSPR has vaulted 2,300% higher since May 6, jumping from a low of $1.15 to a record high at $28 on May 10 as excitement and trading volume surged. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_exchange_listings_spark_a_frenzy\"><\/span>Major exchange listings spark a frenzy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The CSPR IOU token was listed shortly after the completion of its ICO on some of the more obscure, low-volume exchanges like BitZ where it traded in the sub $3 range until early May. <\/p>\n<p>Price action for the token started to pick up on May 7 as trading volumes began to increase ahead of the May 9 announcement that CSPR would be listed on Huobi, the sixth-largest cryptocurrency exchange, a development that was registered by the Cointelegraph Markets Pro\u00a0&#8216;<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>Quakes&#8217; system ahead of the price rally.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/db5524fc-9291-40d2-b262-1f1cb3acbd91.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>NewsQuakes\u2122. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>Trading volume on exchanges that list CSPR increased six-fold following the announcement and this propelled the token price 933 times higher than its ICO price just a little over a month before. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Partnerships_point_to_significant_use-case_potential\"><\/span>Partnerships point to significant use-case potential<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A scroll through the project&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> feed shows that there is more than just speculative hype behind the token&#8217;s rising value as multiple partnerships and protocol developments indicate Casper has a strong foundation and significant growth potential. <\/p>\n<p>Following Casper\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1377278949827489794\">mainnet launch<\/a> on March 31, the protocol announced multiple collaborations including partnerships with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1382186820826505218\">Terra Virtua<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1382334117015121922\">BIGtoken<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1382678718280253440\">WISeKey<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1387069181959491584\">Lead Ventures<\/a>. The team also initiated\u00a0the launch of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1378457558688657408\">DEVvDAO<\/a>, a platform that issues grants for open source development on the Casper network. <\/p>\n<p>The protocol has also benefited from its focus on development and expansion into Africa and the Middle East, two areas of the world that remain relatively unt<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed as far as the true potential for growth that they offer the blockchain sector. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Meet Saeed Hareb Al Darmaki, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CasperLabs?src=hash&amp;ref_src=twsrc%5Etfw\">#CasperLabs<\/a> Managing Director of the Middle East and North Africa.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Yd8dCDk26l\">https:\/\/t.co\/Yd8dCDk26l<\/a><\/p>\n<p>\u2014 Casper (@Casper_Network) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Casper_Network\/status\/1380282730211123200?ref_src=twsrc%5Etfw\">April 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Even though Casper is not widely listed at major exchanges, the hype surrounding the token, and the performance of other IOU listings like DOT prove that investors are interested in the project. <\/p>\n<p>Aside from speculation from traders, the project already has strong relationships with established crypto-firms like BitGo and the fact that there are a variety of use cases suggest that there&#8217;s more than the hype surrounding the recent price surge.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/2-reasons-why-casper-cspr-iou-token-rallied-2-300-in-one-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week &#8221; Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move can make it a challenge for promising new projects that are looking to catch the momentum&#8230;<\/p>\n","protected":false},"author":1,"featured_media":246730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMTk5ZmJhNjYtMjFlYi00MmYzLWI2ZTUtOGU5M2Q1NGI5ZjJlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74860,75591,75036,94976,75168,74876,74892,73785,25460],"class_list":["post-246729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-huobi","tag-ico","tag-ido","tag-polkadot","tag-proof-of-stake","tag-tokens","tag-markets","tag-middle-east"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/246729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=246729"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/246729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/246730"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=246729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=246729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=246729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}