What is making EverGrow Coin (EGC) crypto rally?

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What is making EverGrow Coin (EGC) crypto rally?

 What is making EverGrow Coin (EGC) crypto rally?
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Highlights

  • Launched in 2021, EverGrow Coin (EGC) is primarily a deflationary token and aims at bridging the gap between cryptos and fiat. 
  • Built on top of the Binance Smart Chain, the EGC crypto is intended to allow its users to earn passive income and promote capital growth. 
  • The EGC crypto on Tuesday was trading at the US$0.0000003451 with a 24-hour trading volume of $6,01,061, according to CoinMarketCap.

Launched in 2021, EverGrow Coin (EGC) is primarily a deflationary token that aims at bridging the gap between cryptos and fiat. The EverGrow Coin is targeted towards rewarding its holders in Binance-pegged BUSD stablecoins whose value is pegged at 1:1 with the dollar.

Built on top of the Binance Smart Chain, the EGC crypto is intended to allow its users to earn passive income and promote capital growth. As the users benefit from the stablecoin rewards, it ensures that the market participants are better placed both in a bull and bear market condition.

On 24 May, the EverGrow Coin was witnessing a rally of over 29% and a decent volume gain as well of over 25%.

Related read: Has the interest in stablecoins returned post TerraUSD (UST) crash?

Why is EverGrow crypto rallying?

EverGrow coin seems to be rallying on the back of the news of its achieving 1,500 followers on its protocol. Besides, the momentum seems to be driven by the EGC community, which is urging Binance to list the token on its exchange.

Boasting of an anti-whale system, the EverGrow Coin prevents the whales to sell any amount to a maximum of 0.125% of its circulating supply. Consisting of an NFT marketplace, the users can trade their products on its marketplace.

In its roadmap, the EverGrow Coin intends to launch a variety of products including its EverGrow Wallet, Play2Earn games, EverGrow Exchange, etc.

Price movement

The EGC crypto on Tuesday was trading at the US$0.0000003451 with a 24-hour trading volume of $6,01,061, according to CoinMarketCap. The crypto was up by 31.27% with a fully diluted market cap of US $345,081,201 with a maximum supply 1,000,000,000,000,000 EGC coins in circulation. 

Related read: Why is Mirror Protocol (MIR) crypto soaring today?

The EverGrow Coin has been witnessing a significant rally of 45.8% in the past 30 days. It is perhaps this reason why it has been hogging investors’ interest with a strong volume rally of 27.09% in 24 hours.

Though it’s very easy to get swayed by the rally, as a market participant one must be aware that in a volatile crypto environment such as this, the prices of cryptos and their associated rallies can change at any given point in time. Therefore, one must cautiously take decisions about investing and must conduct market research before making investment decisions.

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