Cuprum Coin s.l.l.c. introduced its commodity-backed cryptocurrency on August 16/22, 2022, with ultrafine copper powder as its underlying asset, with a value of more than US$60 Billion.
After the Cuprum Coin corporation completed a successful pre-sale in October/November 2021, at which time all 250,000 CUCs intended for sale were purchased at a price of $10 for 1 CUC, the initial exchange offering (IEO) took place on the Bitforex exchange on August 8, 2022. Due to the launch delay, the team has decided to list the CUC IEO on only one trade at 15 USDT and with a placement of 7 days, till August 15.
The next day, on August 16, it was listed on the secondary Bitforex exchange, and on August 22, it was listed on the WhiteBIT exchange. Due to the influx of IEO offer purchasers into the placement and pre-sale customers two days later, the price decreased to 10 USDT and then to 5 USDT over the next few days.
Over the previous few days, the exchange rate for CUC has been around the 5 USDT mark. Since one CUC is backed by an asset worth as much as 200 USDT, the Cuprum Coin team thinks it’s a great long-term investment at its current price of only 3% of that value.
It doesn’t surprise me that pre-sale buyers who bought CUC at $10 in October/November 2021 when Bitcoin and Ethereum were at their ATH (All-time-high) levels are now selling off their holdings. Due to the decline of over 65%, some of them may wish to reinvest in Bitcoin and Ethereum. According to the data we have, I anticipate that as much as 10% of our pre-sale customers who are viewing this investment as a short term one will sell CUC at these levels. Most investors still view CUC as a viable option for medium- to long-term holding.
Even though there was an attempt to manipulate the price through arbitrage trading on August 28th, our and the MM team’s swift reaction prevented any more damage. Once that happened, “we stopped trading on the WhiteBIT exchange for three days while we investigate all the intricacies of the third-party manipulation,” explains Mario Urli, CEO and founder of Cuprum Coin.
After debuting on Bitforex and WhiteBIT, the company claims they were inundated with demands to join 14 additional exchanges, all of which are ranked among the top 20 in terms of trading volume.
Although we are thinking about listing CUC on those other exchanges, Binance is our primary focus at this time. Since it had been nine months since our previous listing application, we resubmitted it on August 23. As the CEO and creator of Cuprum Coin puts it, “it’s not simple to get on Binance, but we believe that CUC deserves it because it’s unique in the world among tens of thousands of comparable, i.e. copied, cryptocurrencies in terms of its specs, qualities, and genuine worth.”
Cuprum Token is an alternative coin (altcoin) that was developed on the modified Tezos blockchain and is used as a payment system. Including an explorer, it utilizes a native blockchain that is completely decentralized. There are major technical advantages when comparing it to Bitcoin and Ethereum. All the way from transaction per second (TPS) to low transaction fees and energy usage. To be sure, CUC is the true cryptocurrency of the future.
To learn more about Cuprum Coin, check out their dedicated press site.
