The major mining pool ViaBTC reported that it raised successfully over $30 million on the first ICO on Bitcoin Cash Blockchain. According to ViaBTC, their own token (VIAT) will be used as “gas,” enabling ViaBTC users to transfer value and get access to various privileges.
Over 750 million tokens have been sold in just two hours. ViaBTC plans to release the remaining 250 million tokens as a reward for the miners, using Via BTC’s platform. The total amount of ViaBTC tokens is 2 billion.
Although the ICO market has been slowly decreasing in recent months, ViaBTC’s success gained the ICO scene a new boost. Furthermore, it is the first ICO launched on the Bitcoin Cash Blockchain. Major mining pools also benefit from the control they have over the coins in general.
The ICO news comes just a few days after Bitcoin.com’s CEO and profound Bitcoin Cash (BCH) supporter Roger Ver announced that he is looking into establishing his cryptocurrency exchange platform. Ver’s new undertaking is planning to raise Bitcoin Cash’s liquidity, but also redirect traffic to Bitcoin.com and utilize his portfolio of products and services.
Bitcoin Cash (BCH) is currently ranking at #4 by market capitalization with over $7,8 billion in market cap, and $236 million in daily trading volumes. BCH’s steady price movements are luring more and more users to invest and trade with Bitcoin Cash.