AdToken (ADT) jumped over 300% in last 24 hours
AdToken (ADT) has risen in market value by about 17.55% against the US Dollar and 10.08% and 15.23% against Bitcoin and Ethereum respectively. Thereby rising the ranks of the crypto coins ranking list from its place at the very bottom at 279th to 186th in under 24 hours.
The gains that the coin has made is, by most standards, insignificant because no one really cares or reports about coins that are ranked above 100 in the official coin ranking list, however, adToken seems to have gotten everyone’s attention because it went up by almost a 100 places in the ranking.
adToken is an open protocol that runs on the Ethereum network and their token is called ADT. adToken as a product is aimed at the $176 billion US Dollar digital advertising industry. It is an open protocol ecosystem that allows the development of decentralised applications on it which are advertising centric.
The aim of the team at adToken is to create the first platform the first whitelist of publishers that are non-fraudulent as the world enters a new era of technology. The adToken team is also trying to be pioneers in the new world of advertisement on the blockchain.
Pump and Dump?
Every time a cryptocurrency token makes insane gains in under a couple of hours, it is subject to the usual suspicion of being a pump and dump drive, where investors cause a spike in the coins value by immediately buying it and then dumping their entire holdings.
This time is no different. adToken’s sudden spike in market value and insane jump in rankings has everyone thinking that the token is being subjected to a typical pump and dump scheme.
adToken is a project that is running on the Ethereum platform. In terms of technology and innovation the project and its proposition brings no radical change to the existing blockchain ecosystem, which is one of the biggest reasons why the spike in its value is surprising and being considered a typical pump and dump.
While it is a possibility that prices are going up because more people are buying it, there is a higher chance of the entire situation being manipulated by players behind the scene. It is highly likely that when a spike seems too steep in too little a timeframe, that multiple holders and investors are repeatedly utilizing the pump and dump technique to get the community’s attention.
However, there is a very slim possibility that this token is actually rising because people are buying it because the trends show that the token has actually been doing quite well in comparison to the US Dollar over a long period of time. And that this is merely a continuation of the same.