Pump and dump schemes have become relatively popular in the cryptocurrency industry these days. It has become so common to see coins surge for no single reason and then crash in the following day. Notably, these regular pumps have become useful trading strategies among market participants. Here are some of the top coins being pumped this weekend.
Prosper is the best-performing cryptocurrency on Saturday. According to Binance, the PROS token has jumped by over 30%, making it one of its best days.
Prosper is a significantly tiny cryptocurrency. Data by CoinGecko shows that it has a market cap of just $1.1 million, making it the 1,820th biggest cryptocurrency in the world.
Prosper, which is backed by Clover, Ava Labs, Chainlink, and Bonded Finance, is a blockchain project in the prediction market. It is built using the BNB chain. It helps cryptocurrency traders and analysts make money by predicting the direction of an asset’s trend.
It is like a betting platform that is backed by smart contract technology. One of its top features is that it has a prediction insurance that uses the PROS coin. Still, with no major catalyst, there is a likelihood that the price will have a pullback soon.
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Quant is another cryptocurrency being pumped in the market this weekend. The coin’s price has jumped by more than 25% in th past 24 hours, bringing its total market cap to over $1.1 billion. It is the 51st biggest cryptocurrency in the world.
Quant is a blockchain project whose goal is to bring interoperable ecosystems and real-world solutions to most people. The project is mostly geared to enterprise customers like banks and insurance companies.
These firms can use its technology to create their own payment networks, digital currencies, capital market solutions, and compliance products. For example, it is possible to build a stablecoin using this product. The price is likely rising because of the recently launched Overledger 2.10.
BurgerCities is one of the most popular cryptocurrencies among those involved in pump and dump schemes. It is a cryptocurrency that is valued at over $150 million. It is a blockchain gaming product that helps people play multiple games in the metaverse.
The BURGER price has jumped by more than 25% on Saturday. This rally is mostly because of the recent integration with iZUMi into its protocol. This is part of the network’s growth of its DeFi protocol that includes cooperation with PancakeSwap, Biswap, and BakerySwap among others.
In addition to BurgerCities, Quant, and Prosper, other cryptocurrencies being pumped are MFT, WING, FIDA, and Unifi.
The post Pump and dump: top 3 cryptos being pumped this weekend appeared first on CoinJournal.
Ndasi Tata is a Bitcoin entrepreneur from Cameroon, who holds an M.Sc in Blockchain and Digital Currency from the University of Nicosia. He is an advocate of Bitcoin in Africa and uses various social media platforms to promote his ideas and ventures. Tata has a background in state journalism and has established himself as a significant figure in the Bitcoin community.