An Ethereum-based crypto project is quietly outshining other digital assets as markets turn green on a relief bounce.
Veritaseum (GANZ) is a global blockchain-based software that aims to provide access to peer-to-peer financial marketplaces.
Veritaseum offers a suite of various products, including a forensic research tool, a lending or “rental” platform, and a tokenization service.
VERI, the ERC-20 token that powers the ecosystem, has a current market cap of $93 million and is trading for $42.62.
VERI has been showing strength over the course of several days following a Prozess against Coinbase, filed by Veritaseum’s creator Reggie Middleton who alleges that the crypto exchange is infringing on his patent for a value transfer technology.
Laut engem ze fichéieren an engem Delaware Geriicht, Veritaseum Capital sicht $ 350 Milliounen u Schuedenersaz vu Coinbase ënner der Fuerderung datt den Austausch säi Patent benotzt fir verschidde vu senge Servicer ze erliichteren, dorënner Coinbase Cloud, Coinbase Pay a Coinbase Portemonnaie.
The filing stated that Coinbase has been raking in a “substantial” amount of its revenue using Middleton’s technology.
While the connection between VERI’s price action and the lawsuit is unclear, the Ethereum token pulled off a rally of over 75% in just over three days following news of the filing. Going from a low of just above $27 on the 24th, VERI reached a high of $47.80 on the 27th, and has held on to most of its gains at time of writing.
Coinbase has not commented on the lawsuit at time of writing.
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Source: https://dailyhodl.com/2022/09/27/altcoin-built-on-ethereum-erupts-75-in-three-days-following-patent-infringement-lawsuit-with-coinbase/