The crypto market is famous for many things online. For one, it was popular for creating overnight millionaires, as the prices for specific tokens started to skyrocket. This happened in 2017, when Bitcoin made its first splash and was able to reach a price of $25,000. As a result, many people who owned cryptocurrencies at the time were able to turn into multi-millionaires overnight. That single rise in popularity is possibly the biggest reason why cryptocurrencies have been able to grow so much.
Another thing that the crypto market is famous for is how so many different cryptocurrencies are able to rise to tremendous success at the drop of a hat. And in the case of the most recent cryptocurrency, it was able to increase by a total of 70,000% in as little as 24 hours. It goes without saying that this incredible rise has shaken the market to its core. The cryptocurrency in question here happens to be the Kokoswap crypto, which saw its prices rise by an almost absurd degree.
Within a day, the coin was able to jump from a price of just $0.0099 to a little over $7 is quite a remarkable rise. And while it did eventually fall to a price of $5.85 after the day ended, it still left the cryptocurrency in a much better state than when it started.
The Kokoswap cryptocurrency made its move from the ether network to the binance crypto chain, which was a change that no one had ever heard of. Ether has always been the perfect place to make applications or platforms related to crypto. So after hearing about Ether possibly having some competition, people quickly made their way to Kokoswap to show their support by investing in it.
The power of these types of rallies which spread on the internet can be very powerful. The only other time that a rally like this has managed to work was when TikTok decided to collectively invest in Dogecoin. Since Dogecoin was not even worth a penny, people had nothing to lose just be investing a single dollar into it. And when the movement managed to reach critical acclaim, Dogecoin was able to easily make it as one of the top 10 cryptocurrency firms according to market cap.
Kokoswap will be taking the NFT video game market forward, as it tries to jump into the play to earn trend that has started to emerge in recent years. Furthermore, games that included blockchain or cryptocurrencies were seeing their sales skyrocket, showing that there was a place for them in the market as well.