VeChain Founder Says 99% of Cryptocurrency Price Is Speculation

Nearly all of cryptocurrency valuation is tied to speculation, according to the founder of VeChain, differentiating the space from adoption-focused projects such as Dash. As reported by Cointelegraph, blockchain project VeChain’s founder and CEO Sonny Lu recently opined at BlockShow Asia 2019 that most projects in the space show very little usage outside of speculative trading, resulting in excessive focus on generating funding rather than on delivering and applying viable products: “99% of a [cryptocurrency’s value] is linked to speculation, and not to the value that solution can bring to society. This causes many startups to waste a lot of time producing and ‘selling’ the token, failing to develop solutions for where they were initially focused.”


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