An Ethereum Imposter token jumped 70,000,000% in 24-hours

Utkarsh Gupta
Source: Unsplash

This just in! Ethereum breached $50,000 in the market. All asset holders of more than 20 coins are now millionaires. Sadly, the ticker name is ETX, and it is another scam token named EthereumX. Jokes aside, the facts weren’t inaccurate. The crypto market of 2017 was filled with fallacious projects and 2021 was expected to be different. However, crypto scams and shit coins have remained a constant reminder that the digital asset industry is always full of surprises.

Without further ado, let us analyze the asset which is currently more valuable than Bitcoin.

EthereumX; revolutionary troll project or CMC glitch?

Source: CoinMarketCap

No, the screenshot is not edited and luckily, it remains the same until this following link is clicked. According to statistics, the coin jumped by 66,500,000% over the past 24-hours, rising up to $50,850 from $0.008945. Its current market cap is $4.4 trillion, which is almost thrice of BTC’s current mark cap of $1.2 trillion. The circulating supply is currently $87.2 million and the rest of the market statistics were unknown.

Crypto Twitter was quick to jump on its trail and Crypto Whale, a popular market commenter and trader stated,

The primary deduction? This is definitely a market glitch. Over the past few weeks, these scam tokens have been taking a lot of attention. After Squid Game token, this is the 2nd asset in a week which illustrates an unfathomable valuation. The primary session remains the same for all these scam tokens and glitches, and that this, Do Your Own Research.