Yes World token rises 4,900% on debut! Claims highest volumes for any newcomer

Synopsis

On its first day of trading, Yes Work token became the biggest gainer among the cryptos on exchange, registering volumes more than $11.7 million. The total market capitalisation of the token hit the $250 million mark in the first 24 hours ending Tuesday.

Recently-listed Yes World token rose 4,900 per cent in just 24 hours of initial trade. The token was listed on Monday, July 18 on Coinsbit crypto exchange.

On its first day of trading, Yes Work token became the biggest gainer among the cryptos on exchange, registering volumes more than $11.7 million. The total market capitalisation of the token hit the $250 million mark in the first 24 hours ending Tuesday.

The project developers claim that it is the highest volume on debut day recorded for a newly-listed crypto token or coin on any exchange.
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Yes World token is an asset-based token and a utility token, which uses BEP20-based blockchain technology, a token standard on Binance Smart Chain that extends ERC-20, the most common Ethereum token standard.

Jaipur headquartered Yes World token is a climate tech company working on green technology to reduce carbon footprint from our atmosphere.

The Yes World token kicked off to trade in pairs with Tether (USDT) at $0.0005, witnessing high demand from the community. It was among the top gainers and traded tokens on the exchange.

However, the token price action in the token took a breather and it stabilized around $0.008 on Wednesday, 1200 hours IST, according to the data from Consbit.

Praveen Kherwal, Head of International Operations, Yes World said that such humungus rallies on debut are extremely delightful and record high volumes are a testimony for the same.

“Amid the correction in the crypto prices lately, the performance of Yes World token has boosted our morale and we hope to continue this momentum in the future,” he added.

Other than Consbit, it is also listed on BankCEX and VinDAX. According to the project developers, the token is likely to be listed on Coinmarketcap and Coingecko by the beginning of next month – August 2022.

Apart from them, Yes World is planning a massive Airdrop and Global launch, and as part of that campaign, more than 30 more crypto exchanges will be enrolled by March 2023.

The token was launched by ‘Save the Earth’ activist Dr Sandeep Choudhary, the promoter and co-founder of Yes World. He has been constantly working to generate awareness of global warming and climate change.

Sharat Chandra, VP- Research and Strategy, EarthID said that the promoter of Yes World token has championed a noble cause of reducing carbon footprint and bringing forth the issue of global warming and climate change.

“With more than 25,000 community members, this project seems to have hit the right chord with people conscious of the environmental impacts of climate change,” he added.

Yes World uses blockchain technology to add value to the consumers’ lives without disrupting the environment, inspiring people to choose a healthier, greener, more compassionate lifestyle.

It applies blockchain intelligence to the carbon emission data gathered from various sources to analyse, clean, aggregate and tokenisation. Warehousing, tokenization and standardization of the voluntary carbon offsets are the key features of the token.

The token is aimed to be used by corporates and public organisations who will exchange tokens to offset their carbon footprint through several utility based services to build the strong community.

Other market experts suggest that investors should wait for the token to stabilise after the meteoric rise and build community interest in the longer run.

“The token ticks some relevant boxes and touches but the next few days will see the token find its zone and it would be good to wait and watch till then,” said Raj A Kapoor, Founder, India Blockchain Alliance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Updated: 07/20/2022 — 10:00