Buggyra Coin Zero (BCZERO) was hedged by Hacked last week when it recorded a growth of 1.929% in three weeks in December.
A bit of digging into the origins of the ERC-20 token revealed a cryptocurrency without a whitepaper or discernable technical team to talk about, as well as a unique use case not yet seen in the blockchain space.
All odds were on a major correction affecting BCZERO following the recent twenty-fold increase in price. However, the value of the token continued to rise dramatically in the new week, as the 35% increase on Monday worsened the total growth of 2.65% for the month.
Tokenomics of Buggyra
What we have here is a classic high-supply cryptocurrency, low volume that can be pumped and / or discharged for a minimal initial investment. According to CoinMarketCap, there are 1,678,609,241 BCZERO tokens currently in circulation, from a total stock of 10,000,000,000.
These tokens are currently priced around five cents, giving Buggyra Coin Zero a total market cap of $ 87.6 million. It is sufficient to position it close to the first fifty cryptocurrencies for market capitalization and in view of more developed projects such as Komodo (KMD) and Holochain (HOT).
There are only over 2,000 listing addresses listed on Etherscan.io, and the daily trading volume has been combined by Livecoin is Instant Bitex the trade amounted to just over $ 30,000.
Given the lack of technical documentation related to BCZERO, information on the distribution of tokens is not currently available. The project website has a vague FAQ section and not much else. The website attributes the project to "RICHFORD SECURITIES Ltd", which is based in the United Arab Emirates.
Truck Racing Crypto
Here you can read a more detailed report on the use case designed by Buggyra Coin, but to summarize, the project is self-described as:
"… a platform for future financing of all types of payments to the Truck Racing community worldwide that is built on top of the Ethereum blockchain."
The Buggyra truck racing team is based outside Europe and competes on the world circuit in truck racing events. The crossover between truck races and cryptocurrency, to the best of the author's knowledge, remains slim.
Price Buggyra Coin – BCZERO / BTC
All the daily trades of BCZERO arrived against BTC on Monday, but the highest gains came in relation to the dollar due to the rise of Bitcoin on Sunday evening.
From a daily minimum of $ 0.038635, BCZERO rose 35% against the dollar, reaching a peak of $ 0.052631 at midday (UTC). The gains against BTC came around 29% when Bitcoin broke the $ 4000 barrier and flirted with $ 4,100 before a slight decline.
The total monthly earnings for the only existing racing truck cryptocurrency now stands at 2,650% – an increase in growth equaled only by the recently pumped Repo Coin (REPO).
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.