Ekta, a blockchain that enables physical assets and communities’ on-chain together, moves towards its first listing. Ekta has been in the news recently because it gave an enormous return of 2,893,266,376 percent in the last seven days. Its values surged from $0.00000001396 to $0.4039, as per Coinmarketcap.com data reports the Economictimes.indiatimes.com. So, an investment of Rs 1,000 could technically change into Rs 2,989.32 crore.
Stories of unbelievable returns are not new in the cryptocurrency arena. Ekta is one such token struggling to get its glory back but is still far behind its all-time peak. Despite making an incredible surge of 2.9 billion percent, the token is still light years behind its previous glory when it zoomed 25 times to scale the previous highs.
In the past one week, the small token gave a mammoth return of 2,893,266,376 percent in the last seven days to $0.4039 from $0.00000001396, as per Coinmarketcap.com data.
The Blockchain is taking its first tentative steps towards its first public listing. It has raised over $5 million in seed funding and private sales.
Experts advise caution before investing in such unbelievable prospects
Raj A Kapoor, Founder, India Blockchain Alliance, feels that it is a proper use case strategy to create profits by bridging the physical world with the digital world. The platform integrates traditional businesses with blockchain technologies and, in the process, opens new avenues of economic opportunities for everyday people.
Kapoor cautioned that most boomers are not a permanent phenomenon, and one should keep a safe distance from entities that promise the sky a pittance.
Interestingly, the micro-level has a market cap of less than $5 million. Though, the 92 percent fall in volume and trade of merely $2,250 signals towards the trap for the buyers.
Data from the Coinmarketcap hints that there are 12,097,924 tokens in supply and the maximum supply is capped at 420,000,000 Ekta tokens.
Sharat Chandra, VP- Research & Strategy, EarthID, a self-sovereign Identity Management Platform, said, “It appears to set itself apart from the usual run-of-the-mill token projects. Ekta’s mission is to fuel the development of projects aimed at cleantech, smart tech, ocean startups, alternative medicines, permaculture, and aquaponics.”