10 Things You May Not Know About COE
Since arriving on the Blockchain scene in 2017, Coeval has inspired among many no shortage of fascination. The following is historical factual what-went-there-then account of 10 facts you may not know about the token known simply as COE:
1. The first COE sale ever took place on around June 22, 2017, shortly after the token was created on Waves DEX, and was for around $10 per COE. It generated about 2 bitcoin which was used to fund the listing of the Monkey Capital ICO. It’s not clear who spent the money on an unknown token on a decentralised exchange.
2. COE is the fastest-rising token in the history of cryptocurrencies, starting at $1 (0.0001 BTC @ $2,549.50) on July 7 and rising to $1,455.56 by July 23. The consequent 145,456% gain in the price of COE in just over a fortnight meant that by the end of the first summer month, an investment of $5,000 was worth $7.3 million. To put this number in perspective, this is 15% of Bitcoin’s total 10-year gain in just over 10 days!
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3. Despite huge early gains, trading volumes were not accommodating more than around $500,000 of buy and sell orders combined a day, causing the digital asset to collapse almost as fast as it had risen. By September 26, COE posted the last trade recognised by CoinMarketCap, at $5.13. It had fallen back to where it started.
4. During its short but intensive surge, COE managed to make the Top 100 most valuable coins on CoinMarketcap for a little over a week, peaking in 39th place with $62,055,300 of market cap.
5. Although by comparison MNY’s historical market cap looks much lighter at about 10% of the COE peak total, there was a moment on August 3 when MNY overtook COE in market cap when MNY leaped up over $50 million in value to 75th place as COE began to lounge at around 90th place. However chaotic at the time, the history does give both COE and MNY the unique distinction of occupying the coveted acclaim of both having been Front Page CoinMarketCap coins.
6. The day COE’s euphoric rise ended on July 24, a Thai investment club purchased 700 ETH worth of the digital asset in an over-the-counter sale. It was never discovered whether they or someone else contributed to the sell-off.
7. COE was initially never intended to be sold. Instead, it was designed as a discount token representing an 80% discount to the MNY ICO and was handed to colleagues on the initial management team such as Maecenas’ Marcello Garcia-Casil and Peercoin’s Peerchemist. However, when it was accidentally introduced to the general chat room of the Monkey Capital Slack, it found favour with investors due to very limited supply of 100,000 tokens. It was decided at that point by the project managers that COE had to be sold effectively for the ICO to stand a chance at achieving success. “It may have been an innocent mistake that it got out there but now the success of this whole ICO hinges on COE,” one of the project managers told the Monkey Capital founder at the time.
8. COE traded more volumes in Waves tokens that in Bitcoin overall. Around 75% of all volumes on Waves DEX in COE from July are Waves tokens based. At it’s peak approximately 100,000 Waves tokens at any one time were on the buy side of the COE order book.
9. COE was originally going to be given a supply of 1,000,000 tokens but this was decided against at the last minute since it would make the token too similar to DASH, which then had roughly a 6m token supply.
10. COE still has a listing on CoinMarketCap and it requires just $1,000 a day of volume to reactivate it. COE also now has a Waves DEX WCOE fungible replacement for trading on Waves which is under the Asset ID Gye5KtnAe5Rv5hM8Yd1eVQWaCf5w2BcFSq4vMSjvG9XT. You can obtain this COE by using the Waves gateway details of which are at https://pentagram.partners
Note: Coeval is now in smart contract form and can be found at https://etherscan.io/address/coe.dunaton.com. Further details can be found at https://monkey.capital. The token’s community can be found at https://t.me/monkeycapital.
