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EthereumX Records Outrageous! Growth With $4 Trillion Market Growth – FAKE!!

Imagine waking up to discover that your crypto investment has lost almost 67,000,000% of its value and that things may not be as good as you originally imagined – EthereumX case study.

This occurred in the EthereumX (ETX) tokens community after logging into Coinmarketcap on Saturday morning and discovering that token counts “shot” by more than $69 Mln in less than 24 hours.

Despite the lack of guaranteed volume, the token price was read at $50,850 USD at the time of the news release, placing 201 with a market value of $4.4 trillion. However, at the reporting time, just after this huge market cap rise, coinmarketcap has disabled all of the associated data with the project.

EthereumX Records Outrageous! Growth With $4 Trillion Market Growth - FAKE!!

Image Source: CoinMarketCap

“The EthereumX current market capitalization is $4.4 trillion. It is worth $4,400 billion. It accounts for roughly one-fifth of US GDP. “Excellent work!” One tweep cracked a joke.

The price flash piqued the interest of crypto netizen Mr. Whale, who warned more than 360,000 of his followers not to buy such a brand.

“This shitcoin has increased 66.5 percent in the previous 24 hours,” he stated, adding, “Commercial things are like:” ooooh yeah! this appears to be a fantastic time to shop.”

Although there was no instant response from the CMC or token developers, Mr. Whale was quick to raise a red flag in an uncommon operation, claiming it was a problem.

Despite having a relatively modest following of roughly 515 Telegram users and 957 Twitter followers, other members of the token community on Telegram were also sure that there was a problem with the CoinMarketCap.

“This isn’t a pump; it’s just a diversion for CMC.” There was no pump, therefore there was typically no pump character. “Sustainable growth,” the member stated.

Looking at additional data providers such as Coingecko and the more than five traded trademark deals, the price was $0.088320 USD at the time of publishing, representing barely a 20.8 percent increase in the last 24 hours, a fact that many members of the public appear to concur with.

EhereumX, as the name implies, is a token operator on the Stellar Network that attempts to provide Ethereum money by promising to be less hazardous and more efficient than its predecessor.

This is not the first time that data outages on price tracking websites have perplexed the crypto industry. Although there is no clear evidence about what transpired, analysts point to an error in the possible computation of the platform’s possible location. In September, the site encountered another “price mistake,” in which several coins on a website that included Bitcoin automatically increased in value.

Carylyne Chan, Vice President of Marketing, primarily informed about of this occurrence, “There was a glitch in the tether pricing calculation that led any tether market listings to climb illegally.”

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