This Cryptocurrency Just Surged Nearly 2,600% Overnight
Well, the days of massive speculative increases in digital assets clearly aren't over. Today, the biggest mover in the cryptocurrency world, by a wide margin, is Gifto (CRYPTO: GFT). This little-known token has surged a whopping 2,593% over the past 24 hours, as of noon ET. That's right, overnight, this little-known crypto has rocketed into a top 50 position in the crypto rankings by market capitalization.
Yesterday, this token traded at below $0.04 apiece at its low. Thus, at its current price of $1.60 per token (and with 1 billion tokens in circulation), this project went from a market capitalization of around $30 million to $1.6 billion in a few hours.
Gifto is purportedly a web3 gifting platform, aimed at becoming a hub for blockchain-based giving. This project has since been adding on new features, pushing what it calls its "megaexpansion plan" involving various staking and charitable initiatives, as well as offering a web3 wallet and a marketplace for content creators to turn their non-fungible tokens (NFTs) and other forms of digital art into GFT tokens.
Source Fool.com
