WTF is Noahcoin: Up 250%

When investigating coinmarketcap one might often find the odd coin/token pumping, this can often be correlated to news (perhaps a new exchange listing or partnership for example) but every so often in this bear market up will come some random crapcoin with a 200-300% surge.

Noahcoin's use case is not a bad one, in fact remittance payments has been one the industries most ripe for adoption from digital currencies for a long time. If you are interested in this use case I would recommend looking into Abra (a remittance platform using BTC as the settlement layer to transfer money)

Without any clear indication the most likely culprit is pump and dump coordinators, they are rampant in this space (though thankfully not as active as last year. and they employ various methods of manipulation like wash trading, spoofing and high frequency bots. Some are attributing the pump to the announcement of Noah City, a concept the team has devised to have an entire city/ecosystem running on the Noahcoin system by 2023 (never invest in projects with whitepaper goals 5-10 years away)

Vaporware is rampant in cryptocurrency (just look at all the ICOs from last year) and one must be diligent not to succumb to investing in a random coin with 300% gains. But just remember guys, there is a sucker born every minute... don't be one of them.

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