- The cryptocurrency associated with the famous Atari gaming company has crashed 84% after a botched IEO
- Buyers complained of orders of not being processed, poor support, and the inability to sell the tokens when it hit the exchange
- The token dropped from $0.25 to $0.04 before rebounding to $0.09
The cryptocurrency created by Atari, the legendary videogame maker, has endured a less than legendary start to life, dumping 84% shortly after listing on the Bitcoin.com exchange. The token, which was sold at IEO for $0.25, crashed to $0.04 just hours after listing on the site, following a less than smooth IEO with buyers unable to sell their tokens until after the price had dumped.
ATRI Fails To Live Up to Expectations
The ATRI token was a much-hyped entrant into the congested world of cryptocurrencies given its famous name, but its reputation seems to have counted for nothing, and certainly didn’t help them navigate the IEO without problems.
The Atari token sale was held on the Bitcoin.com platform and went live last Thursday, concluding Sunday and going live on the Bitcoin.com exchange the following day. There were however claims that the token sale was mishandled, with complaints of orders not going through and support failing to respond to issues.
Atari Token Twitter Accounts Goes Dark
There were further complaints that on the listing day there was no way for Atari token presale and IEO buyers to send their coins to the Bitcoin.com exchange to sell them, with the token being listed anyway and enduring huge volatility. By the time presale and IEO buyers were able to sell their tokens on the exchange, the price had dumped to $0.04.
The Atari Token Twitter account, which was very vocal about the token and the IEO in the lead up to its launch, has been noticeably silent since the IEO concluded, posting only one tweet since Monday of an underwhelming partnership with a new gaming and social media platform.