ASSAM (CoinChapter.com) — EverGrowCoin witnessed a sudden price spike after getting listed on BitMart and ZT cryptocurrency exchanges. EGC is a deflationary token that grows scarcer with time. The coin had a notable feature that allows users to earn 8% in BUSD with every transaction on the EverGrowCoin blockchain. However, according to a previous CoinChapter report, the reward feature isn’t in play anymore.
In order to list the token on centralized exchanges, the developers replaced the rewards scheme with a tax-free trading experience on these exchanges. EverGrowCoin team cited the lack of proper tokenomics on exchanges as the reason for the removal of rewards.
After the developers decided to remove the rewards, prices of EverGrowCoin dropped but, the token survived the crash. On the other hand, the listing of EGC tokens on exchanges was a great help as the coin saw greater exposure.
According to a recent press release, the EverGrowCoin team claims of distributed $22 million in rewards to its users. The release also claims that the EGC has 95,000 holders. As per glitchy data from CoinMarketCap, the EGC token’s ATH is $1,006.40, with a self-reported market cap of $926,430,089.Several Twitter users pointed out these glitches. The actual all-time high for the token stands at $0.00000337 as CoinGecko reports.
EverGrowCoin listing on CEX
The official Twitter handle of the token surprised their fans with the CEX listing. As per PooCoin charts, the ECG prices are only up by 0.5%. However, this is not true as the BitMart prices show that prices rose to a daily high of $0.000005999 and a daily low of $0.000001350.
An increase in volume also supported the blockbuster debut of the token on the BitMart exchange. BitMart shows that the debut volume of the token rests at $160 billion. Furthermore, the historical data shows that EverGrowCoin rose by humongous prices in October end and early November.
Some Reddit users claim to have made good returns on EverGrowCoin, with many investors being bullish on the token. On the other hand, there are a number of users who also say that it is a pump and dump token. Therefore, before you invest in EGC tokens, do your own research!