August 12, 2022

Zero to 6,000% in seven days: Dormant altcoins are coming back to life


A rising tide lifts all boats — even those previously thought to be shipwrecked. At least that’s how it looked on Wednesday when some previously dormant altcoins erupted back to life, experiencing spikes ranging between 3,000% and 6,500% for the week.

Foremost among them was Karma (KARMA), a social media project that originally launched on the EOS blockchain in 2018. Over the past seven days, the dollar value of Karma increased 6,530% as the token climbed from a subcent price of $0.000464 up to $0.030767.

Trade volume spiked 35,400% over the same period, but don’t assume that means liquidity is readily available. From a weekly low of $2, trade volume had risen to the heady heights of $710 by Wednesday.

The token had lost more than 99% of its value between 2018 and 2020, and that’s the same year that any activity was last witnessed from the project’s Twitter account. Karma’s Telegram channel predictably saw numerous new additions in the past week, but no news from the team has been forthcoming.

Karma migrated from the EOS blockchain to Worldwide Asset eXchange in 2019, and the last announcement on social media relates to the token’s integration with a WAXTitle: Zero to 6,000% in seven days: Dormant altcoins are coming back to life
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Published Date: Wed, 17 Mar 2021 12:36:32 +0000