An unknown cryptocurrency, WebDollar (WEBD), surged 164,842% in hours, injecting $7.65 billion into the crypto market on the 14th of June. On the day, the unpopular crypto grew from $0.0003711 to $0.6121 within three hours. The unprecedented spike occurred between 9:00 GMT and 12:00 GMT as the crypto asset’s market valuation also surged.
Also, WebDollar crossed a $1 billion market valuation in three minutes on the same day. As of 9:54 GMT, the market cap was $1.84 million. However, this valuation rose to $1.5 billion at $9:54 GMT, pushing WebDollar to become the 18th largest cryptocurrency by market cap ahead of known blockchain protocols like Stellar, VeChain, and Tron.
Furthermore, the crypto asset’s market cap fell to $5.12 million at 10:39 GMT before rising again to $9.5 billion at 11:29 GMT. However, WEBD corrected about 99% after reaching a $9.5 billion market cap.
At press time, WebDollar is down 33.61% to $0.0006659. In the last 24 hours, WEBD has traded as low as $0.0004173 and has topped $0.001003. WebDollar has also fallen from its 18th position to the 981st-largest crypto asset by market value.
Image Credits: Pixabay
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