The price of the token of the Casper Network blockchain platform (CSPR) reached $ 40 before the official start of sales in the secondary market and renewed its all-time high.
The CSPR price has increased by 128,000% since the beginning of April, and by 171% over the last 24 hours. At the time of writing, the asset is trading at $ 38.5.
In March, the startup behind the project, Casper Labs, held a CSPR token sale on the Coinlist platform. At the last stage, which ended on April 7, investors bought the asset for $0.03.
CSPRs are traded in the form of debt tokens [I Owe You, IOU], allowing interested parties to conduct trading operations. A similar model was used by Polkadot (DOT).
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After the completion of the token sale, the IOU of the project got to small cryptocurrency exchanges like BitZ. Huobi announced the CSPR listing on May 10.
The token price could be positively affected by the Casper Labs partnership: the startup entered into a partnership with Terra Virtua, BIGtoken, WISeKey, and Lead Ventures.
The company also launched DEVvDAO, a platform designed to fund the development of open source applications on the Casper Network.