Gram Asia, a company from South Korea, is in the latest cryptocurrency news for selling rights to its Gram holdings at $4.00 per token starting from July 10. As a report by Bloomberg notes on July 13, the proposed sale price is three times the original $1.33 sale price at Gram’s second initial coin offering (ICO) round in March 2018.
The sale on July 10 by Gram Asia will happen exclusively through the Japanese cryptocurrency exchange Liquid, as the website notes. Liquid also hosted the Gram ICO in March when Telegram raised $850 million, bringing its total valuation up to $1.7 billion.
An email from the exchange Gram Asia reports that users who buy Gram with the exchange’s native token, QASH, will get a $0.50 discount per token. The future price estimates for the Gram token vary but generally fall between $2.10 and $8 according to research from the Russian research agency Aton.
Even though Liquid initially announced on June 11 that it would be hosting the sale, a source that is close to Telegram was in the news – telling some best cryptocurrency news sites that there is no relationship between the two entities. The source further noted that the June 11 press release was the first time they had heard of Gram Asia.
On top of this, a Telegram investor commented that no one has the rights to sell Gram tokens before their launch. Per a token purchase contract, the buyer will agree to not:
“ENTER INTO ANY swap or other AGREEMENT THAT TRANSFERS, in whole or in part, ANY OF THE ECONOMIC CONSEQUENCES OF OWNERSHIP OF THE INVESTMENT CONTRACT represented by this Purchase Agreement or any Tokens.”
Gram is the yet to be released native token for the Telegram Open Network (TON), the coming altcoin news show. This would be a decentralized network project by the open source, encrypted messenger app Telegram. The service is used by more than 200 million people and is planning to launch its Gram tokens by the end of Q3 2019.
As we previously reported, Gram Asia is the largest holder of the Gram token in Asia. Additionally, the exchange Liquid has a deal with Gram Asia – but not Telegram. Liquid has also hinted at being an incubator for TON (Telegram Open Network).
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