"A decentralized messaging app called Status — built on the Ethereum blockchain — raises over $60 million dollars during its first coin offering campaign. but, as soon as the sale initialized the network became chokeed, and the Status team was not able to immediately provide everybody with their promised coins."
A trustnodes.com article covered :
"The sale was planned to last until 4th of July, but the cap of 300,000 eth was quickly reached during a frenzy period which broke down ethereum’s network, creating much congestion, backlog and some shenanigans."
"Ethereum’s Network Overload Causes Service Suspensions; Its Transaction Price Also up"
They tweeted,
"Ethereum’s Price Begins to decrease; Ecosystem Greed, and Healing the Network"
"I don't know when Ethereum will come back and healthy online, but the importance of the mad rush for ICO speculation have been severe. According to Coinmarketcap stats, the price of Ethereum has begun a plunge. It is down at 12.04% and still going down, at the time of writing the article."
"What Do you think about Status? will it recover? Will Ethereum continue spiraling downward? Share your thoughts below!"
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