Just a few days after hitting our Hardcap on the 31st January , ING went live on the exchanges yesterday. We wanted to avoid the endless waiting game that some projects do, give our supporters liquidity and of course, welcome Net New buyers who missed the ICO to join us and support the IUNGO mission to build the first truly global, decentralized WiFi Network.
We were given a date by the exchange and had to either accept it or our listing would be “delayed indefinitely”. We listened to the wishes of our 12,000 strong Telegram community and pressed ahead with the 4th February date. Obviously we could not have listed at a worse time — On top of it being Chinese New Years and Super Bowl Sunday it was a perfect storm of a complete market meltdown with Bitcoin and Ethereum down over 40% in the last few days and shocking regulatory news from China among other places.
Iungo is not alone in this suffering. Many strong performers and fantastic projects are in the red. However, we believe that a significant market sell of like we are currently enduring will result in a flight to quality.
Projects like IUNGO that have a real business, an ambitious achievable roadmap, a talented hard working team and a rock solid use case for decentralization and tokenization will rise to the top.
We thank you all for your support and we ask you to stand by us as we build our global network and keep the world updated on our partnerships, alliances, commercial and technological milestones as we cross them of the road map. Sure, the short term speculators have been hurt as they would if they were holding any other crypto asset recently but as our network grows, the network effects and critical mass will allow value to accrue to the platform itself and therefore the holders of the Iungo Tokens.
We look forward to an exciting year ahead, with the team and our ICO participants standing shoulder to shoulder as we spread the IUNGO Network to every continent on earth.
CEO / IUNGO