Pump and dump schemes have become relatively popular in the cryptocurrency industry these days. It has become so common to see coins surge for no single reason and then crash in the following day. Notably, these regular pumps have become useful trading strategies among market participants. Here are some of the top coins being pumped this weekend.
Prosper (PROS)
Prosper is the best-performing cryptocurrency on Saturday. According to Binance, the PROS token has jumped by over 30%, making it one of its best days.
Prosper is a significantly tiny cryptocurrency. Data by CoinGecko shows that it has a market cap of just $1.1 million, making it the 1,820th biggest cryptocurrency in the world.
Prosper, which is backed by Clover, Ava Labs, Chainlink, and Bonded Finance, is a blockchain project in the prediction market. It is built using the BNB chain. It helps cryptocurrency traders and analysts make money by predicting the direction of an asset’s trend.
It is like a betting platform that is backed by smart contract technology. One of its top features is that it has a prediction insurance that uses the PROS coin. Still, with no major catalyst, there is a likelihood that the price will have a pullback soon.
Read our review of the best cryptocurrency exchange.
Quant (QNT)
Quant is another cryptocurrency being pumped in the market this weekend. The coin’s price has jumped by more than 25% in th past 24 hours, bringing its total market cap to over $1.1 billion. It is the 51st biggest cryptocurrency in the world.
Quant is a blockchain project whose goal is to bring interoperable ecosystems and real-world solutions to most people. The project is mostly geared to enterprise customers like banks and insurance companies.
These firms
