SAN FRANCISCO, Calif., April 2, 2021
Cryptyk, a US based developer of innovative blockchain based cloud storage and security products, has today announced the Phase 2 release of 100 Million new Cryptyk Tokens into the circulating CTK economy. This new release of tokens, combined with the existing circulating supply from the original Phase 1 Token Sale in 2018/2019, has increased the available supply of CTK Tokens to 350 Million CTK. The CTK Token is currently listed on Cointiger exchange and trading at a price regime of US$0.015-0.025 and volume of 2-3M CTK per day. Cryptyk CEO Dr Adam Weigold revealed that “Cryptyk is now offering CTK in large off-exchange purchases that do will affect the exchange price which normally drives up the overall purchase price for large investors. For the minimum 2 Million CTK purchase this equates to US$35,000 at the current traded price of 1.75 cents per token. However escrow conditions apply and Phase 2 purchasers will not be able to sell their CTK on exchanges for a 6 month escrow period while we increase our trading volume and number of exchange listings. At least half of the Phase 2 release will be reserved for trading on new crypto-currency exchanges with several listings planned over the next 6 months. This offer represents a unique large volume purchase opportunity at a fixed market price with a relatively short term maturation period and enormous upside potential over the next 6-12 months.”
Dr Weigold further added that “the primary purpose of the Phase 2 Token Release is to fund several new listings on Top 20 crypto-currency exchanges thereby increasing CTK liquidity and trading volume. The release will also be used to fund the final integration of the CTK economy into our upcoming Cloud Storage product in Q4 2021. This Phase 2 token release was planned 2 years ago in 2019 after our initial token listing on Cointiger. However it has been delayed several times while the CTK trading regime was being restored to the 1-3 cent price level with 2M+ CTK / day in trading volume. This important result took some significant belief by the Cryptyk team and CTK trading community after several years of trading below 0.01 cent during tough bear market conditions. Fortunately the CTK price has now increased by 50x over the last 6 months thereby enabling our critical Phase 2 release to finally proceed. This Phase 2 token release marks the beginning of the CTK Token achieving the necessary liquidity to ultimately be integrated into our future Cloud Storage Product and achieve true token utility. It is an important milestone in the history of Cryptyk and the maturity of the CTK economy. This has been a long time coming but I should point out that our project is 3 years younger than our main competitor in Filecoin, whose price has recently exploded since their November 2020 storage product release. Cryptyk has a faster more scalable storage technology that is scheduled to be released within only a year of the Filecoin release. Hence, by these comparitive metrics we are making good progress in our ultimate goal of launching a crypto-powered cloud storage product by the end of 2021.”
Full details of the Cryptyk Business Strategy White Paper can be downloaded here.
Investor inquiries can be made via email to [email protected]
CRYPTYK is a San Francisco based developer of Decentralized Cloud Storage and Security Auditing technology that provides orders of magnitude better security and privacy over conventional centralized cloud storage providers such as Google, IBM and Amazon. It also provides orders of magnitude faster performance and scalability than blockchain storage providers such as Filecoin, Storj and Sia.