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Quiztok, the chatbot token providing fast content on different messengers, skyrocketed by 200% in the past 24 hours, sparking curiosity about the driving force behind its impressive surge.
Amid the crypto winter, Quiztok’s token has plummeted to new lows, trading 91% below its all-time high, according to CoinMarketCap data.
Quiztok’s Mysterious 200% Increase
The chatbot token traded around $0.003 at 5:00 am EST, showing a slight upward movement. At 10:00 pm EST, it surged parabolically, surpassing $0.005 and then moving sideways.
Quiztok’s market cap has skyrocketed by 29%, reaching $32 million, alongside a remarkable 62% increase in trading volume, currently standing at $5.05 million.
Reason Behind Surge is Unclear
The recent buzz around Quiztok has piqued the community’s interest, but the exact reason behind it remains unclear. Quiztok’s latest tweet provided only a subtle hint about the Q Spot giveaway held 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!👇퀴즈톡APP 다운로드 받기https://t.co/5gUSUF1MaZ pic.twitter.com/mbsPdydVEw
— 퀴즈톡 (@quiztokkr) June 7, 2023
Established in Korea back in 2017, Quiztok is a blockchain-based quiz-mining platform. Stoic.ai describes Quiztok as a knowledge-sharing platform that gathers information from the web and presents it in a quiz format.
Quiztok’s native cryptocurrency, QTCON, currently holds the 512th position in market capitalization and has shown moderate performance on the price chart.
Quiztok Price History and Analysis
Launched in 2017, Quiztok (QTCON) initially peaked above $0.15, achieving its all-time high. During Bitcoin’s bull rally in 2021, QTCON entered another bullish zone, surging to around $0.12 before experiencing a significant correction and hitting all-time lows.
Throughout 2022, QTCON’s performance was bearish, showing daily trading volumes barely exceeding $100k. As 2023 began, the token’s price chart displayed a consistent trend, with QTCON consolidating around the $0.001 level.
Gate.io’s trading chart indicates the token is in the overbought zone with a positive MACD, signaling a positive sentiment surrounding the asset.
Despite the recent suspicious surge, the community remains unconcerned, with no discussions about this asset on Coinmarketcap or any mentions on Twitter.
Indications suggest that development might be underway on the blockchain, accessible to only a limited group of individuals.
Due to its oversold status, the token is expected to decline in value in the coming days or even hours.
Quiztok Alternative – BTC20
BTC20 is a Bitcoin clone built on the Ethereum blockchain, adopting the same tokenomics and following Bitcoin’s path.
The stake-to-earn mechanism offers investors an environmentally friendly alternative to Bitcoin, as block-based rewards are tied to staking rather than mining.
The recent presale of BTC20 tokens offers 6.05 million tokens at $1 each, out of a total of 21 million tokens. The remaining tokens will be kept in a liquidity lock and distributed as APY rewards to stakers upon block execution.
Experts foresee the token as the next major cryptocurrency of 2023 due to its innovative approach to enhancing Bitcoin’s environmental sustainability.
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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