Monaco token, which is currently traded at $6.54 and has a market capitalisation of $64,175,249 fell down by 32.71% within last 24 hours.
On november 1 there was made an announcement in the official twitter account of Monaco that asset contract is being removed from Monaco roadmap. The statement was made that Monaco's asset smart contract scheme would no longer feature in its future.
— Monaco Card (@monaco_card) 1 ноября 2017 г.
Kris Marszalek, a chief executive officer, released a video, giving an explanation for such a move and stating that reasons behind this decision are “legal” and “commercial”.
This decision is great for the long-term protection of value for all token holders.
However, members of Reddit.com community did not seem to share the positive attitude to this event, they were more puzzled and confused by such news.
Reddit users comments
At the same time, community members expressed their negative opinion on twitter too.
Monaco token continues to decline being traded at almost $7, while it's highest price was $26 in August 2017.