I can see now a new coin which is already #23 in marketcap and had +881% within the last 24 hours. I have never even heard of it!
Their project is about encouraging people not to keep money in the banks but instead convert fiat into coins and vice versa via their token.
Their announcement thread has only 7 pages, the team and advisers aren't famous for anything and they have no big partners.
Seems like the project is not among the strong ones, but how did it manage to rise with such high market capitalization? I guess it means people believe in it, for they could've sold all of the tokens already with 2x or something profit.
How do such projects manage to get in the top (even if it happens temporarily)?
I saw it on facebook and other social media platform. They are giving away 500 ucash to each participants who verified their phone number if im not mistaken.