On August 16/22, 2022, Cuprum Coin s.l.l.c. launched its commodity-backed cryptocurrency, with an underlying asset in the form of ultrafine copper powder worth over US$60 Billion.
After a successful pre-sale in October/November 2021, when Cuprum Coin company sold all intended 250,000 CUCs at $10 for 1 CUC, the IEO followed on the Bitforex exchange on August 8. Although it was planned to place the IEO on four exchanges, due to the launch delay, the team decided to list the CUC IEO on only one exchange, at 15 USDT, and with the placement of 7 days, until August 15.
This was followed by a secondary listing on the Bitforex exchange only one day later on August 16 and on the WhiteBIT exchange on August 22nd. Given that buyers from the IEO offer joined the placement and buyers from the pre-sale two days later, the price dropped to 10 USDT, and a few days later even to 5 USDT.
CUC has been trading between 5 and 6 USDT for the past few days. With an asset value of as much as 200 USDT behind one CUC, the Cuprum Coin team sees it as an excellent opportunity to buy and hold for the long term, given that it is trading at only 3% of that value.
“I’m not surprised by the selling pressure from pre-sale buyers who were buying CUC at $10 in Oct/Nov 2021 with Bitcoin and Ethereum at ATH (All-time-high) prices. Some of them probably want to return to BTC and ETH as they have been down more than 65%. According to current statistics, I believe that up to 10% of our pre-sale customers will sell CUC at these levels who look at this investment in the short term. At the same time, CUC is still an opportunity for mid and long-term investment, as most investors see it.
On August 28, we even had an attempt to manipulate the price through arbitrage trading, but our and the MM team’s quick reaction stopped the manipulation attempt. After that, we even stopped trading on the WhiteBIT exchange for 3 days until we investigate all the details of the third-party manipulation”, says the founder and CEO of Cuprum Coin, Mario Urlić.
The company claims that after listing on the Bitforex and WhiteBIT exchanges, they received 14 requests for listing on new exchanges, many of which are in the Top10/20.
“Although we are considering listing CUC on some of those exchanges, our primary target is Binance. Therefore, after 9 months since the last application for listing, our team resubmitted the application on August 23rd. It is not easy to get on Binance, but we believe that CUC deserves it because it is unique in the world among tens of thousands of similar, i.e., copied, cryptocurrencies in terms of its specifications, characteristics, and real value”, claims the founder and CEO of Cuprum Coin.
Cuprum Coin is a cryptocurrency built on the forked Tezos network, a real coin, i.e., an altcoin, classified as a utility coin. It has an independent native blockchain and an explorer. Compared to Bitcoin and Ethereum, it has several significant technical advantages. From TPS (transactions per second) to very low transaction fees and energy consumption. CUC is the real cryptocurrency of the future.
Visit the official Cuprum Coin News and PR website for more information.
