THELOGICALINDIAN - The Kik activity a muchtouted 100 actor ICO that promised to accompany its badge to the masses via a babble app has met an blameworthy end and become one of the crypto bill to absolutely go bottomward to zero
Kik Chat App Discontinued
The Kik project, an ICO captivated by the Canadian babble app producer, fabricated an archetype of itself this Tuesday, as it bootless to use the ICO aerodrome funds and had to abandon its arch product, the Kik babble app.
The startup reportedly appear as abundant as 70 employees, shrinking to a amount aggregation of 19 developers. In the meantime, Kik is still apoplectic in acknowledged procedures with the US Securities and Exchange Commission, and will apparently absorb its funds in a abortive action to prove that the KIN badge was not advised to be an unregistered security.
Adding insult to injury, a Twitter influencer recalled the adventurous predictions of Kik CEO Ted Livingston, accepting the airs to adumbrate Bitcoin’s abortive death:
KIN Token Goes to Zero
In the end, it was the KIN agenda bread that died an abortive death. The KIN bazaar amount bashed to a ridiculously low price, with no end to the freefall. Since the advertisement of closing the Kik app, the KIN badge absent added than 36% of its value, bottomward to $0.000008. And if it’s accessible for an asset to attempt beneath 1 Satoshi, KIN has done it.
The accepted KIN agenda asset trades alone on CoinTiger, unless the amount unraveling leads to accumulation delistings.
Livingston, however, is not the being to accord up. In a blog bombastically blue-blooded “Moving advanced angrily with KIN”, Livingston suggests addition pivot. Even after the Kik app, the CEO believes he can accomplish bodies absolutely buy KIN. Livingston claims the “Kin Ecosystem” is a able-bodied and adorable space, which will accomplish the accepted accessible go and buy an abstruse crypto asset with a basal price.
But the Kin Ecosystem is a little added than acceptance – or bots – beat on ads or added forms of rewards. The KIN badge registers about a actor affairs anniversary day, a absurdity of outpacing best accustomed coins, including BTC. The KIN badge exists on a new blockchain application the Stellar protocol, addition barrier to the added public.
Drunk-Chat from Livingston a Hoax
Livingston and the Kik aggregation refuted claims that the CEO had drunkenly chatted with a CoinDesk reporter, advertence that this was a hoax. Earlier, letters alike that Livingston wrote a abstruse line, that his “tickets are ready”, and that he is not activity to bastille over Kik. The advice was evocative of an avenue scam, which in any case arrives abundant too late, afterwards the KIN bazaar amount has tanked.
The Kik activity still potentially sits on cogent Ethereum (ETH) stores, back it conducted the ICO at a time back ETH prices were about $150. With the accepted $200 levels, the activity may still accept funds larboard for development, admitting the administration is awful uncertain.
What do you anticipate about the abortion of Kik and KIN? Share your thoughts in the comments area below!
Images via Shutterstock, Twitter @Udiwertheimer
