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Home / Altcoin / DAO Loses Crucial Ethereum Support

DAO Loses Crucial Ethereum Support

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The world of altcoins is constantly changing and while few coins remain in long term operation against the likes of Bitcoin, the DAO project was successful under the Jaxx platform led by one of the original founders of the Ethereum project/currency. Sadly it has withdrawn support for the token after months of distance between founder and wallet.

Jaxx DAO

“We will be removing #The_DAO_Project in the coming weeks. Please transfer them out of your wallet as soon as you can!”

The DAO went through much success being hailed as Bitcoin 2.0. Surrounded by much hype and a dedicated development team, the coin grew to have a huge $150 million capitalization after huge adoption rates since it essentially had ethereum backing. Reasons behind the delisting remain unclear as Di lorio remained vague behind the event. The Jaxx platform remained one of the most popular platforms for new users to the DAO token run by Di Lorio who was one of the first pioneers of the token.

 

To conclude, the world of altcoins may seem volatile but with the likes of Litecoin and Ethereum itself, investors have a wide range of projects to support. Considering the current success of Ethereum, it seems as if the currency has a long future ahead as market capitalizations reach over $800 million. The fact DAO has ceased operations may seem harmful to an already disruptive market. While Apple has considered previously at integrating the cryptocurrencies, providing some hope for the token, a recent hack costing over $50 million has hardly added any credilibty for the project in investor’s eyes. No alternative has yet been suggested since the closure of the Jaxx project but poloniex remains the go to exchange as suggested by Jaxx although one must note no support is currently provided as of the time of writing.

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