Shortly after finally agreeing a settlement over a trade mark dispute with Alibaba Group, ABBC Coin (ABBC) has seen a massive price upsurge of 100%. As at the time of writing, ABBC Coin is changing hands at $0.364262 after seeing 101% price upsurge.
With $49 million 24hrs trading volume, and a market cap of $166 million, Alibaba seats at the 47th position. ABBC chart has started looking good, and there is expectation the digital asset will stay among top 20 if not top 10 coins in the space.
The year-long dispute between ABBC and Alibaba has finally come to an end, after the two firms reached a mutual understanding. Both Alibaba.com and ABBC Coin Foundation negotiated a settlement expected to be mutually beneficial for the two organisations. It is not clear to Today’s Gazette what the mutual settlement cost the cryptocurrency foundation, the ABBC Foundation.
Even though ABBC Coin had been affected by the lawsuit, the digital currency is going to benefit from the settlement since there was widespread news that ABBC Coin would go into oblivion after Alibaba Group won the lawsuit.
While it is not clear to us if the coin would be adopted by Alibaba.com to serve the two firms right and also revolutionise the cryptocurrency space, there is a clear indication that the settlement is pushing ABBC Coin to the top.
As per available information exclusive to Today’s Gazette, ABBC Coin online shopping mall is to be integrated on all prominent shopping malls like eBay, Alibaba, and some other.
About the Filed Lawsuit by Alibaba.com
March, Alibaba.com won a filed lawsuit on trademark infringement against ABBC Coin, forcing the formal to drop its name. Alibaba Group first lost a preliminary copyright lawsuit last year for failing to proof beyond reasonable doubt that ABBC Coin infringed on the firm’s right.
Afterward, Alibaba refiled another lawsuit and this time, the e-commerce company won the lawsuit, forcing ABBC Coin to change its name.