The surprises never stop in the crypto market. And it is that, in the last hours a token unknown to everyone in the crypto world, has managed to become the second cryptocurrency in the world by market capitalization. Therefore, although not much is known about it yet, today we are talking about Incent, the mysterious token that unseated Ethereum for thirty minutes.
What is Incent?
If something is not lacking in the crypto world, it is projects. And it is that Blockchain technology has allowed the emergence of hundreds of projects based on cryptocurrencies. Which range from finance to cybersecurity and even social media.
And in this sense, Incent seems to be one of these projects. Thus, on its website, Incent presents itself as a token with which content creators can generate income, while at the same time rewarding those who view their creations through the Internet.
In this way, according to Incent, when a creator affiliated with the project’s Ingage program broadcasts through a platform such as Twitch, their transmission generates codes. These codes can be redeemed by viewers of the creator’s stream, earning them Incent tokens, while also generating a reward for the content creator.
As stated on its official website, Incent would have more than 23,000 users affiliated with the Ingage program, and would work with all streaming platforms on the market. However, CryptoTrend was not able to independently verify this information.
How did this token unseat Ethereum?
Now, due to its characteristics, Incent does not seem to be more than one of the many projects that exist in the crypto world. Which could succeed or fail, but without enough features to stand out from the rest. Despite which, in the last hours the Incent token has experienced a real jump in its price, which briefly placed it as the second cryptocurrency by market capitalization, displacing Ethereum.
Thus, for several minutes, on the CoinMarketCap Incent website it appeared in second place in its ranking of crypto assets. With a price of 3,567.88 dollars and an increase of 3,775,476% in its price in the last 24 hours. Igniting the reactions within the crypto community, which did not understand how an unknown currency had achieved such spectacular figures.
The Incent token increased in price exponentially in minutes. Source: CoinMarketCap
However, shortly thereafter the price of Incent returned to normal. Trading at the time of this writing at $ 0.005 per Incent, and returning Ethereum to its position as the world’s second-largest cryptocurrency.
The mysterious token that unseated Ethereum, Incent, has returned to its normal price levels. Source: CoinMarketCap
At the moment there are no explanations about what could have happened with the price of Incent, speculating that it could be due to an error in the CoinMarketCap platform, or a speculative move in the market for a very small token. So, for now, the rise and fall of Incent in less than 30 minutes, would be a mystery to the crypto world.
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