Latest Rates On 17 November 2021 Bitcoin Dogecoin XRP Cardano And Ethereum Cryptocurrency This Cryptocurrency Made Rs. 2.37 Crore Of Rs. 1000 In 1 Day

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Cryptocurrencies are known for their rapid growth in a short period of time. Among these, micro tokens are becoming famous for their strange tricks. 

Such tokens can deliver ultra-multibagger returns in just a day or two, despite having a low market capitalization and extremely low liquidity. 

However, not all investors can make money from such tokens. 

Because it is very difficult to predict them in advance. Squid Games-based Squid and Cocoswap are prime examples. 

Now another such cryptocurrency has come to the fore, which has broken the record of giving highest returns in 24 hours.

2.35 lakh percent return

The latest addition to the list is Ethereum Meta (ETHM), which has gained over 2.35 lakh percent in the last 24 hours, according to data from Coinmarketcap. 

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This digital token grew by 2,37,000 percent in a matter of hours. 

The price of this token rose from just $0.00000005033 to $0.0001194 during this period. 

Although it was trading at $0.000006449 at 11.30 am.

what is the market capital

The total market cap of this token stood at a little over $8.5 million. 

Its trading volume has jumped over 160 percent in the last one day. 

And the total supply is 99,000,000,000, which is the maximum limit for this token. 

While 50.01 billion ETHM tokens remained in circulation. 

Ethereum Meta was trading on some decentralized exchanges with a 24-hour trading volume of around $150,000.

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caution is necessary

Experts say that where volume or liquidity is low, there can be a possibility of extreme volatility. 

Investors should keep such things in mind before investing money in this new coin. 

Ethereum meta is not a new name in the crypto world. This coin is almost three years old. 

Ethereum Meta shows a major weakness in Ethereum and that is the lack of privacy.

What is lack of privacy

This enables smart contracts where no one can see what has been bought or for how much. 

After implementing Zero-Knowledge Snarks an upgrade called Smart Contract Mixer will be added to the Ethereum platform. 

This will make the system more efficient. 

In addition, the Ethereum Meta Token is also the foundation of an anonymous e-marketplace that is accessible through the Tor browser and provides a completely anonymous experience.

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no real profit

However, analysts call it another scam, where there is a price rise on the charts and no investor sees any real gains in their accounts. 

The price of the coin is only increasing because $4,659 has been added to increase liquidity. So technically buying $5,000 would increase volatility. 

Also, 99 percent of the tokens are in the same wallet. People buying or promoting these types of tokens just by looking at the growth on the charts are not being considered correct. 

Market experts say it is easy enough for someone to launch a token and then create buzz for it. 

But investors should not fall into such trap and put their money at risk.

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