HUSKYX, which has a market cap of $1.8 billion, is a deflationary token which means the total supply is always decreasing, making it increasingly rare.
Little known cryptocurrencies rising and falling thousands of percentage points within hours is becoming the latest trend right now. This also points to the risks and volatility in trading based on cryptocurrencies.
Recently, Kokoswap, a not so well known cryptocurrency, went from $0.01005 to $7.22 in just 24 hours on November 10, up 71,000%. Shiba Inu, an internet celebrity, also witnessed an incredible protest.
The latest to join this trend is HUSKYX, another cryptocurrency that is little known to ordinary investors. The cryptocurrency has seen a massive 45,000% rally in just 24 hours, jumping from a low of $0.000000004089 to $0.0000001878, coin market data shows. At 5pm (IST) on Monday, the coin is currently trading at $0.00001828.
HUSKYX is a deflationary token which means the total supply is always decreasing, making it increasingly rare. Every HUSKYX transaction is taxed and a small percentage of the coins are burned, but in the end the holding is rewarded.
HUSKYX token is deployed on Binance Smart Chain, combining rebase function and dividend reward.
Rebase, also known as elastic arc, works in a way to increase or decrease the circulating supply through a function known as recovery. When a rebase occurs, the tokens may decrease but nevertheless, they will remain the same relative to the token’s market capitalization and the value of the tokens will remain constant.
Rebase will be used when there is a drop in the chart to counter any drop and keep the chart looking healthy.
HUSKYX says it aims to go above and beyond for its community, by providing investors and re-tracements alike with ample opportunities on the Binance Smart Chain.
Cryptocurrency craze among investors is increasing day by day as more and more individuals become aware of its reliability and viability.
The digital asset market, which has been around for more than a decade, has recently nearly quadrupled from its late 2020 value, as investors have become more comfortable with established tokens. Establishments like Bitcoin and networks like Ethereum and Solana continue to upgrade and attract new functions.
Recently, the overall market capitalization of cryptocurrencies has reached $3 trillion, with Bitcoin leading the way as the largest digital asset.