Pump and dump schemes have become relatively popular in the cryptocurrency industry these days. It has become so common for coins to bounce for no reason and then crash the next day. In particular, 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 coin has jumped over 30%, making it one of its best days.
Prosper is a very small cryptocurrency. Data from CoinGecko shows that it has a market cap of just $1.1 million, making it the 1,820th largest cryptocurrency in the world.
Prosper, which is backed by Clover, Ava Labs, Chainlink and Bonded Finance, is a blockchain project in prediction markets. It is built using the BNB chain. It helps cryptocurrency traders and analysts to make money by predicting the direction of the asset’s trend.
It is like a betting platform which is backed by smart contract technology. One of its top features is that it has a prediction insurance that uses PROS coins. Still, with no major catalysts, there is a possibility that the price will bounce back soon.
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Quant is another cryptocurrency that is going to hit the market later this week. The coin’s price has risen by more than 25% in the past 24 hours, taking its total market cap to over $1.1 billion. It is the 51st largest cryptocurrency in the world.
Quant is a blockchain project that aims to bring interoperable ecosystems and real-world solutions to the majority of people. The project is mostly geared towards enterprise clients such as banks and insurance companies.
These firms can use their technology to build their own payment networks, digital currencies, capital markets solutions and compliance products. For example, it is possible to create a stablecoin using this product. The price is likely to increase due to the recently launched Overledger 2.10.
BurgerCity is one of the most popular cryptocurrencies among those involved in pump and dump schemes. It is a cryptocurrency that is worth over $150 million. It is a blockchain gaming product that helps people play multiple games in the metaverse.
On Saturday, the price of burgers has jumped by more than 25 percent. This rally is mostly due to the recent integration with iZUMi into its protocol. This is part of the network’s development of its DeFi protocol which includes collaborations with PancakeSwap, Biswap and BakerySwap.
Apart from BurgerCities, Quant and Prosper, the other cryptocurrencies being pumped are MFT, Wing, FIDA and Unifi.