RUTM: the 50,000 dollar token on EOS - The Cryptonomist
Today, November 30th, a new smart contract was launched on the EOS blockchain, called RAM Up The Moon (RUTM), which has the main purpose of boosting the price of RAM to the stars, using a system similar to what was done with the CPU in the EOS blockchain.
What is splashed, however, is the price of the token that is now exceeding $ 50,000. In fact, as we can, 1 RUTM is well worth 15,000 EOS: the order book is really clogged and is something perhaps never seen before on the EOS blockchain.
As mentioned, we are talking about really impressive numbers and we are even in the presence of a token with a price per single unit that beats the bitcoin (BTC) peak in December 2017 of two and a half times.
In these agitated moments we see that the price shows no sign of diminishing and is even breaking the threshold of 50 thousand dollars, reaching just under 53 thousand dollars and it is certain to consider that only a few hours have passed since the activation of this smart contract.
With this smart contract we see how it is possible to interfere and exploit a resource: in fact, as far as the RAM of the EOS blockchain is concerned, it uses a Bancor algorithm that determines the price based on supply and demand and then adjusts to avoid that the price reaches disproportionate prices. What will happen from now on and in the next few hours about the EO blockchain
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