This cryptocurrency surges over 45,000% in just over 24 hours

Little-known cryptocurrencies surging and falling thousands of percentage points within a matter of hours is becoming a latest trend these days. This also indicates the risks and volatility in crpto-based trading.

Recently, Kokoswap, a not-well known cryptocurrency, has surged from $0.01005 to $7.22 in just 24 hours on November 10, surging by a massive 71,000%. Shiba Inu, an internet sensation of late, has also seen a jaw-dropping rally.

The latest to join this trend is HUSKYX, again a crypto which is little-known to regular investors. The cryptocurrency has seen a massive rally of over 45,000% in just 24 hours, jumping from a low of $0.000000004089 to $0.000001878, coinmarket data showed. At 5: pm (IST) on Monday, the coin is currently trading at $0.000001828.

The token has a $1.8 billion market capitalisation.

HUSKYX is a deflationary token which means the total supply is always decreasing, making it more and more rare. Each HUSKYX transaction is taxed, and a small percentage of the coins are burned, but holding does reward in the end.

HUSKYX token is deployed on the Binance Smart Chain which combines a rebase function and dividend rewards.

Rebase, also known as elastic supply, works in a way that increases or decrease the circulating supply through a function called rebasing. When a rebase occurs, tokens may decrease but however they will stay relative to the market cap of the token and the value of one’s tokens will remain the same.

The rebase will be used when there are dips in the chart to counter every dip and keep the chart looking healthy.

HUSKYX says it aims to go above and beyond for its community, by providing investors and degenerates alike with ample opportunities on the Binance Smart Chain.

Cryptocurrency craze among investors is growing day by day as more and more individuals become aware of its reliability and sustenance.

The little more than a decade old market for digital assets has already roughly quadrupled from its 2020 year-end value, as investors have gotten more comfortable with established tokens such as Bitcoin and networks like Ethereum and Solana continue to upgrade and attract new functionality.

Recently, the overall market cap of cryptocurrencies has topped $3 trillion, with Bitcoin leading the way in terms of largest digital asset.

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