Why This New Cryptocurrency Is Not Acceptable To Crypto Investors?

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If you have been following Bitcoin news today, then you must have known the state of Bitcoin and other cryptocurrency prices, which are falling apart, due to the global economic crisis caused by a coronavirus. Amid this continuous disease effect, there is a new cryptocurrency, which is not getting a good welcome by most of the cryptocurrency investors. These investors are even urging to avoid this cryptocurrency, which carries the support of death. Now it must be sounding very weird to you, as there is already a big reason for death, then who is this new death supporter? Well, let us reveal to you that this is a crypto token, which is inspired by the existing pandemic coronavirus. It is a corona coin. Yes, and it is being used for betting based on corona deaths. This means the more people get the pass away with this deadly virus, the more the value of the corona coin will increase.

At present, the price of this death-backed token or say corona coin is less than $0.01. It is expected to see more fall in its supply in every short time, depending upon the deaths caused by a coronavirus. Based on the 7.6 billion world’s human population, the supply of this corona-inspired token is specified. According to Sunny Kemp, one of the developers of the morbid-Bitcoin substitute, there are estimations about this new cryptocurrency by the people, who say that the major part of the supply will be burned, because of coronavirus spread. 

Currently, the team behind this new cryptocurrency, corona coin, has listed seven developers, mostly European, including Sunny, and many upcoming joiners on the board. Like there are crypto exchanges, where trading of popular crypto coins, like Bitcoin, Ethereum, Dash and others are being done, similarly, corona coin is traded on a special cryptocurrency exchange, called Saturn Network. Corona coin here comprises 60% of its limited volume. According to an investigation done by Decrypt, one of the renowned websites related to cryptocurrency analysis and news, there are possibilities of Saturn Network coming down of usual standards and have advised to avoid it.

The deadly spread of coronavirus infection globally has numbered beyond 111K, with death figure around 3,890. This deadly virus made its beginning from China’s Wuhan city. Now it has come down. Passing through the corona era, Italy has lengthened its measures for coronavirus quarantine, which states the ban on public gatherings, to the whole country, whereas, in the U.S. the cases have now risen to 500.

The WHO (World Health Organization) has strictly addressed the serious conditions indicating to the corona threat must not be taken lightly. Well, there has been no single day, where there is no mention of new cases of the corona. Governments are trying their level best to fight with this dreadful virus, or bringing down the rising cases. Many crypto investors have advised staying away from the use of this new cryptocurrency, i.e. corona coin, is seriously a ghastly trick, which is curated for its developers to gain instant moolah, and not to engage in any long-term store of value.

Conclusion

So this was about the new cryptocurrency, called, corona coin. Well, as the name suggests, it is wholly inspired by the deadly virus, coronavirus. Many crypto investors are not supportive of this death based cryptocurrency and are advising others to avoid its use. The deadly disease stemmed from its beginning in Wuhan city, China. And has been still on the rise. Still, there are no signs of its end. The cases are still on the rise. All we can do is to protect ourselves by following the government guidelines and to protect ourselves and our dear ones from the spread of coronavirus. Stay abreast of all crypto news to get the latest updates.

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