Quiztok, the chatbot token delivering quick content across various messengers, surged 200% in the last 24 hours. So what’s going on?
The token had been trading below its all-time lows since the arrival of the crypto winter. CoinMarketCap shows that the Quiztok price has corrected by 91% from its all-time high.
Quiztok’s Mysterious Surge
Quiztok’s market cap has surged by 29% and now rests at $32 million, accompanied by a 62% pump in its trading volume to about $5 million.
The Reason Behind The Surge is Unclear
While the recent interest in Quiztok has likely riled the community, the reason remains fuzzy. When translated, Quiztok’s most recent tweet hinted at the recent Q Spot giveaway last month.
The following tweet reads, “Get up to 50,000 points at Q Spot with your friends. Download the Quiztok App.”
⚡️퀴즈톡 Q-SPOT 기능 업데이트!
친구와 함께 큐스팟에서 최대 5만 포인트를 받아 가세요!
— 퀴즈톡 (@quiztokkr) June 7, 2023
Founded in Korea in 2017, Quiztok is a quiz mining platform on the blockchain. According to Stoic.ai. Quiztok is a knowledge-sharing platform that collects knowledge across the web and compresses them into a Quiz format.
Quiztok’s native crypto – QTCON – ranks 512th based on the current market capitalization and has so far performed lukewarmly in the price chart.
Quiztok Price History and Analysis
After being launched in 2017, Quiztok peaked across the $0.15 mark, reaching its all-time high before correcting. Bitcoin’s bull rally of 2021 pushed QTCON into another bullish zone, where it surged to the $0.12 mark before correcting steeply to hit its all-time lows.
The tokens’ 2022 performance was bearish, with daily trading volumes barely crossing the $100k mark. Upon entering 2023, QTCON trended as a straight line in the price chart, consolidating around the $0.001 mark.
The trading chart from Gate.io shows that the token is in the overbought zone, and the MACD is positive, indicating a positive sentiment around this asset.
Despite the recent suspicious surge, the community is seemingly unconcerned. Coinmarketcap doesn’t feature anyone discussing the asset, and Twitter is also silent on it.
It may indicate that development might be underway with the blockchain that is known by select individuals.
Since the token is in the oversold zone, it will likely drop in value within the next few days – or even hours.
Quiztok Alternative – BTC20
BTC20 is an Ethereum-based Bitcoin that treads the same steps as Bitcoin and has the same tokenomics but brings it on the Ethereum blockchain.
It means that even though there are block-based rewards, they are tied to staking rather than mining. This stake-to-earn mechanic gives investors an environmentally conducive alternative to investing in Bitcoin.
A total of 21 million BTC20 tokens exits, out of which 6.05 million are being offered in the recent presale, with each token priced at $1. The remaining tokens will be kept under the liquidity lock, released upon the execution of blocks as APY rewards to stakers.
Due to the token’s unique approach to making Bitcoin more environmentally conducive, experts are pegging it as the next big crypto of 2023.
Over $2.4 million has been raised in the first phase of the presale. With the soft cap being $3 million, BTC20 will likely hit cross the first phase within the next couple of days. Interested parties can visit btc20.com to participate.
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