The strange phenomenon of African cryptocurrency which has far surpassed Bitcoin: how much is it worth

Zugacoin is the first cryptocurrency created in Africa and has a unit price of $ 158,000.

This makes it the most expensive unit-priced cryptocurrency in the world, surpassing Bitcoin by 3.4 times, which is currently trading at just over $ 46,000.

African cryptocurrency traded at just $ 50 on August 3, 24 hours later, on August 4, it was already trading at over 87 thousand, registering the biggest rise in cryptocurrency history in one day, of around 174 thousand percent, and at the same time becoming the world’s most expensive cryptocurrency by individual price. Currently it is trading at $ 158,000 and the total increase since August 3 is 316,000%.

The coin is considered to be a “wave maker” not only because of the rise in prices, but also because of the impetus for the development of more similar cryptocurrencies. It is the first cryptocurrency in Africa and was officially launched on December 1, 2020, with the aim of providing means to help all average Nigerians who want to have financial liberation and earn a better living.

In response to the continued rise in the price of the coin in the world market, the founder, Archbishop of Nigeria, Sam Zouga, He said: “Nigerians and Africans should not take this digital economic record for granted, but use it to secure their financial future. “

Zugacoin has also been listed on 10 exchanges. Among those from which cryptocurrency can be exchanged, Pancake Swap in Argentina mainly stands out, because it is the most used of the 10. Others also very recognized are Dextool, Poocoin, Indoex, Azbit and Bankcex. As a result of this event, its popularity increased with demand and its price skyrocketed.

Archbishop Sam Zuga said: “God has taken away the insults from Nigerians; Yours truly, Archbishop Prof Sam Zuga, listing ZUGACOIN BEP20 on CoinMarket Cap with a historic price of over $ 120,000, “adding,” We have finally reached the end of this journey of the African financial revolution. I did my job, I used my personal sweat to cook for the whole African continent. If Africans refused to eat, it’s no longer my fault. I have granted my heart’s wishes through thick and thin. It can only be God and I give him all the glory ”.

When the coin was launched in late 2020, the unit price was around $ 45,000. In mid-January of this year, its value plummeted, dropping to $ 50, where it remained for a while, hovering between 70 and 30, until August 3.

Further, he referred to the early days of the cryptocurrency: “When Zugacoin was reduced to $ 30, people were posting screenshots on social media to mock Archbishop Professor Sam Zuga. Now that Zugacoin is in the lead with over $ 120,000 in the global market, they no longer trust CoinMarket Cap. “

The cryptocurrency earned around $ 158.8 billion in total market value, and it may have generated hundreds of new millionaires.

In relation to this, Franco Capelo, CEO of the Institute for Technical Analysis, said Infobae: “This sort of thing happens with the same frequency that we see Halley’s Comet, and the hardest thing in these cases is to maintain the price without bursting the bubble. It is a great joy to see how great new wealth is being generated, but it is not healthy for an asset to grow so much, so buying today would be extremely high risk ”.

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