Coinmarketcap suddenly listed ‘Toilet Paper Token’ atop on April Fools’ Day, what’s going on?
Today is April Fool’s Day somewhere, or at least on CoinMarketCap, as the cryptocurrency data site has seen a massive volume of new ‘Toilet Paper Token.’
As a website is known for listing cryptocurrencies in order of market capitalization, CoinMarketCap listed Toilet Paper Token (TPT) as number 0 atop its list on March 31, showing the out of stock supply.
Although there is still March 31 in some parts of the world, April Fools’ Day has traveled to the Asia-Pacific region.
Source: CoinMarketCap
April 2020 comes amid fears of COVID-19 and market recession.
While governments around the world are asking people to restrict their access outside to avoid the spread of a pandemic, people flocked to the shelves to accumulate toilet paper. Such a massive demand has caused shortages.
CoinMarketCap’s Toilet Paper Token is fluctuating at $ 1.64, up 1,123.97% over the past 24 hours, with a 24-hour volume of $ 41,758,500,000.
The token chart shows that the asset recently completed a beautiful double bottom pattern, which has historically led to price protests.
Clicking on this token will link to the asset’s Wipe Paper. The article shows the details of toilet paper over the ages, and consumers today have stocked more goods since the end of 2019.
TPT’s Wipe Paper refers to the tokenization of toilet paper, exploiting “smut contracts” to keep track of the total number of rolls the user has purchased, introducing to “Airplops” and an “Initial Scattering Offering” (ISO). The article said the Toilet Paper Token also complies with the regulation and lists a total supply of 8 billion tokens, available for purchase on the Shitake exchange, on April 1.
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