Hey Guys,
Can someone explain what are these altcoins and what is the exact reason of so much growth in just 24 hours?
Are they scam or legit? Thanks.
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Can someone explain what are these altcoins and what is the exact reason of so much growth in just 24 hours?
Are they scam or legit? Thanks.
Image:
The reason is low volume and utra low mcap , most of such coins are just scams and pumped by early investors in hope of making quick bucks. A lot of these coins are illiquid like even if the gains are 1000% you can't sell it in total due to very low volume.
You have to always be one very cautious with new projects as they are very high risk and reward projects and chances of scams are higher.