This cryptocurrency increases over 45,000 percent just in 24 hours
The latest trend these days is for little-known cryptocurrencies to surge and fall thousands of percentage points in a matter of hours. This also reveals the risks and volatility associated with cryptocurrency trading.
Kokoswap, a not-well-known cryptocurrency, recently surged from $0.01005 to $7.22 in just 24 hours on November 10, a massive 71,000 percent increase. Shiba Inu, a recent internet hit, has also seen a spectacular rally.
The most recent addition to this trend is HUSKYX, another cryptocurrency that is relatively unknown among regular investors. According to coin market data, the cryptocurrency has had a tremendous increase of over 45,000 percent in just 24 hours. Jumping from a low of $0.000000004089 to $0.000001878. The coin is now trading at $0.000001828 at 5 p.m. (IST) on Monday.
The token has a $1.8 billion market capitalization.
HUSKYX is a deflationary token, meaning its total supply is always dropping, making it increasingly rare. Each HUSKYX exchange is taxed, and a little part of the coins are burned, however, long-term holding pays out.
The Binance Smart Chain, which combines a rebase function and dividend rewards, is where the HUSKYX token deploys.
Rebase, also known as elastic supply, works by using a function called rebasing to increase or decrease the circulating supply. Tokens may decrease in value as a result of a rebase, but they will remain related to the token’s market cap. And the value of one’s tokens will remain the same.
The rebase will be utilized when there are dips in the chart to counter every dip and keep the graph looking sound.
HUSKYX says it wants to go above and beyond for its community by giving abundant opportunities on the Binance Smart Chain for both investors and degenerates.
The cryptocurrency trend among investors is growing day by day, as more people become aware of its reliability and sustainability.
The total market capitalization of cryptocurrencies as of late outperformed $3 trillion. With Bitcoin driving the way as the most significant digital asset.