$QKC #QKC

What is QKC and why did it surge by 30% today despite the market downturn?

This is a domestic project with a team composed entirely of Chinese members. QKC QuarkChain is a blockchain underlying technology solution based on sharding technology. It features security, decentralization, high throughput capability, and scalability, achieving transaction processing capabilities of over 100,000 transactions per second.

The total supply of QKC tokens is as high as 10 billion, with only 6 billion in circulation. It is a token based on the Ethereum ERC-20 protocol, with around 9,900 addresses holding the tokens, and the top 100 addresses hold over 98% of the tokens, indicating a high degree of monopoly and concentration. The highest price of the token was about 1.45 yuan, the lowest price was about 0.009 yuan, and the current price is approximately 0.012 yuan, with the crowdfunding price reaching as high as 0.14 yuan, which has severely dropped. The current total market value is approximately 630 million, ranking outside the top 200 in market value. This project can be considered a domestic star public chain, yet its total market value has fallen outside the top 200, which is quite lamentable. The token has been listed on several exchanges, including Binance, KuCoin, and Gate.io, and it has decent trading depth.

It seems that the team behind the QuarkChain project is very strong, with superior technological performance, but the token price has long fallen below the issue price, and there are still over 3 billion tokens that have not been released. Entering the market recklessly without a destruction mechanism carries significant risks.

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