Bittrex Veriblock (VBK), Sold Out 70 Million Tokens In 10 Seconds. Here’s An Analysis…

On March 11th, Bittrex International, a subsidiary of the European exchange Bittrex, was the first to announce the launch of an innovative trading platform. Subsequently, it announced that it will launch the first project RAID. However, RAID was exploding in the middle of the problem. In desperation, Bittrex had to cancel the on-line RAID’s plan.

After a half-month turn around, Bittrex announced that it will launch a new project, VeriBlock (VBK).

10 seconds sold out of 70 million tokens

Image result for Veriblock

On April 3, Bittrex opened the VBK snap. Like the projects launched by the domestic innovation platform, VBK has attracted many users into it in a short period of time.

The three-day snap-up period was originally expected to be snapped up at the moment of the opening. According to the officially released data, 70 million VBKs were snapped up in 10.4 seconds. A total of 855 users grabbed the quota, of which 142 users grabbed the highest. The quota is 200,000 VBK.

it is worth mentioning that, unlike many domestic exchanges that adopt the platform currency crowdfunding model, Bittrex is crowdfunding through BTC. This model is somewhat similar to the previous 1CO, but it is only carried out on the exchange.

According to the official announcement, VBK’s crowdfunding price is 0.000023BTC, equivalent to the US dollar price of about 0.1 US dollars, and after the end of the snap, VBK once skyrocketed to 0.00013 BTC, about 0.5 US dollars, soared 5 times.


From this point of view, regardless of the domestic or foreign exchange platform, the myth of the innovation platform still exists.

User is not satisfied

“There are no ones who grab the blame and don’t grab the crowd.” This is true for all projects with innovative platforms. User dissatisfaction is common, but Bittrex users are particularly dissatisfied.

After the end of the snap, many users ran to Bittrex’s official Twitter to leave a message, pointing to the Bittrex platform black box operation, robots to brush the list.

“Your trading volume is a joke, 10 seconds is over? I think 2 seconds is over. You are sure that people are snapping up. Is this the most unfair project I have ever seen?” More users said that yours Platform Innovation (1EO) is a joke with us on April Fools’ Day.

Not only that, the users complaining are not a few, many users bluntly say that the robot is in the single, ordinary users simply can not grab.


There are also users who give Bittrex advice and suggest that they modify the snapping rules.

Indeed, Bittrex is slightly more immature than the three mature rules in China. As for the future, it will take time to verify.

But it is worth mentioning that Bittrex CEO Bill Shihara personally stepped down as a consultant to the VBK project and seems to be using action to prove that he is optimistic about VBK.

Source: Re-adapted from Coin World


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