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Why has Atari Token (ATRI) dropped by over 25% in the present day?

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Whereas the vast majority of the cash are making vital positive factors, Atari Token (ATRI) is nostril diving.

On the time of writing, Atari Token is buying and selling at $0.012993 after hitting a day by day excessive of $0.0183 and a day by day low of $0.01112.

However why is the token worth dropping? On this article, we’ll give attention to all of the attainable causes for the downtrend.

Why is Atari Token worth plummeting?

Earlier than we go into the main points as to why the token is dipping, let’s first perceive what Atari is.

Atari Token is a decentralized cryptocurrency launched on the Ethereum blockchain to determine a common mode of fee within the Atari video gaming area in addition to enable publishers and builders to have a brand new manner of monetizing their merchandise.

Let’s now check out why is the token worth tumbling.

Atari terminates its partnership with ICICB Group

One of many essential causes for the dip is the Atari, the gaming firm, announcement in a information launch that it has terminated its partnership with ICICB Group.

 The 2 firms had teamed as much as launch the crypto and likewise Atari branded lodges throughout the globe.

This was again in 2020 when the lodges had introduced that they are going to be accepting ATR as a mode of fee, the place the gaming model was to obtain a 5% cut-off of all of the revenues from the enterprise enterprise with every venue set to supply immersive online game theme.

This was an enormous blow to the crypto and its holders. Following the information, the token has been on a downtrend.

Nevertheless, it’s not clear what altered the deal, however the covid 19 pandemic may need contributed to some size of their plans to construct extravagant lodging worldwide.

Atari informed the traders that the ICICB group isn’t licensed to signify the Atari model on any of its official web sites, social media channels, or whitepapers.

Reimbursing its holders

Regardless of all that, On Monday afternoon, April 18, 2022, a snapshot of all of the ATRI holders was taken and a brand new trade platform will likely be launched at a later date, due to this fact traders don’t have to fret.

 

The put up Why has Atari Token (ATRI) dropped by over 25% in the present day? appeared first on Coin Journal.

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