The EverGrow cryptocurrency is the latest crypto that was launched recently. It made stunning shifts in the crypto space with huge surges in its values. Since its release, 2 months ago, this crypto has already been successful in distributing over $30 million BUSD as a reward to all its holders. Let us have a look at some of the EverGrow coin news.
If you are wondering what a BUSD is, it is a stablecoin by Binance that is backed 1:1 with the USD. According to a Binance Chain explorer, this digital coin has already passed the benchmark of 117K+ coin holders and is increasingly heading to 120K coin holders. The contracts of EverGrow crypto collect 8% as taxes from all the transactions and then it automatically distributes that among the BUSD holders. EverGrow coin Binance is available on the Binance exchange as well.
How Does EverGrow Cryptocurrency Operate?
The teams working behind this coin are completely doxxed and in the latest AMA, they made it clear that this crypto is not a meme coin. What makes this crypto unique is the range of uses that are being developed in its Environment, which has the BSC NFT marketplace and NFT lending platform. All EverGrow uses will be dependent on Binance Chain, which is currently thought of as the fastest evolving blockchain after Ethereum and provides much lower transaction charges and faster speed compared to ETH. The lending platforms will enable NFT owners to lend Stablecoins like USDT, BUSD by keeping their NFTs as a collateral. For Q1, 2022, EverGrow has a range of planned uses, that includes a crypto wallet and an Exchange like Trustwallet. These future utilities are already in Beta versions. Once released, these uses will bring in prominent revenue for EverGrow, 100% of which will be utilized to BuyBack and Burn EGC from open spaces. If you are wondering EverGrow crypto where to buy, then you will get that in Coinbase, Binance, and many other leading exchanges.
The ecosystem of ECG will have:
- A Subscription platform for content.
- A Play to Earn Game that is based on Chainlink Oracle.
- A multiplayer war game.
EverGrow Cryptocurrency is hyper deflationary as 2 percent from every $EGC transaction is changed to BNB and kept in the contracts for Burn and Buyback.
Analysts have made calculations that are based on the present market cap of just $300 million. Even at just $30 million regular volume, $10,000 invested in the present time would witness $273,750 per year as rewards, and that is not calculations for any investment growth.
Why Is EverGrow Cryptocurrency Getting Attention?
Even though the price of EverGrow is reduced over the last 24 hours, it is up by nearly 224% over the past seven days, as per reports. On October 28, 2021, the digital currency asserted to have attained 40,000 holders and to have successfully paid $7million to them.
On that same day, Shuan Heng, who is the vice president of operations at CoinMarketCap, said to a leading media house that EverGrow Coin was “currently an untracked listing” on its website.
However, EverGrow cryptocurrency said this was because of a problem with EverGrow CoinMarketCap and its price now looks to have been tracked on the website since October 7.
Antony Portno, who is founder of Traders of Crypto, said in an interview that,
“Any coin that builds a hype on social media can see huge appreciation in price. It is important to approach any coin or investment with caution as the price can fluctuate on a day by day basis.”
He further stated that,
“The value of coins doesn’t always increase and you could be left with less money than when you started, EverGrow is no different.”
Rob Morgan, who is an investment analyst at Charles Stanley Direct, stated that,
“Cryptocurrencies (such as Bitcoin or EverGrow) have piqued the interest of many investors. But be under no illusion, this is a very risky place to put your money.”
Sam Kelly, chairman of EverGrow crypto, said that,
“At EverGrow Coin we absolutely align with those urging caution around any kind of investment. When we launched EverGrow Coin we did so on the basis that we would be led by a solid business plan, and utilities designed to bring fundamental value to the project and ultimately our investors.”
He further said that,
“We agree that there are too many projects out there with little to no fundamental value, and we believe that our growth has been a result of investors recognizing the difference in our approach. We would always urge anyone considering a new investment to do their own due diligence and consider all the risks attached to investing.”
In other news from the crypto space, the market value of Bitcoin had hit $1 trillion after a Tweet by Elon Musk.
The Bottom Line
The record daily of EverGrow cryptocurrency volume surpassed $50 million but is presently averaging around just $1-2 million when the normal crypto market was in collapse and investors are waiting for the launch of utility alpha. With returns at that level, by using traditional investing valuation techniques, this crypto could well be the first new digital currency that could increase by 100x in 2022, so the concept of $20-30 million in regular trading volume is very attainable. You can learn more about the coin on the EverGrow coin website.