Mystery Token Hits $1B Market Cap After Getting Listed for 24 Hours

  1. GG Token has become the 44th largest crypto in market cap despite getting listed in 24 hours.
  2. In less than a day, GG Token has reached $1 billion in market cap.
  3. Traders must exercise vigilance if dealing with memecoins to protect their assets.

While the crypto market has fallen by a few notches in the last 24 hours, with Bitcoin (BTC) falling from $27,000 to $26,700 in a matter of hours, a relatively unknown token has reached $1 billion in market cap after getting listed in just a day.

Specifically, the token is called Global Game Token (GGTKN), simply referred to by its official website as GG Token. The unknown contender has only been listed on CoinMarketCap and CoinGecko within 24 hours, yet it has now become the 44th largest cryptocurrency in terms of market capitalization.

Source: CoinGecko

As seen above, GG Token has barely any trading volume in the last 24 hours and is only purchasable via decentralized exchanges (DEXs) such as PancakeSwap, PooCoin, and Arken, and centralized exchanges P2PB2B.

It is not sure whether GG Token is a memecoin or if it has real utility — that is, for lottery platforms — as the website alleges. In fact, the website claims that GG Token’s inception dates back to 2009. However, GG Token’s Twitter account only started in March last year. There is also minimum social media engagement on the token’s Twitter handle.

Given the abundance of memecoins and fraudulent tokens today, traders must exercise extra vigilance to protect their assets from malicious entities.

Read Also :

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.