The cryptocurrency market is going through tough times as geopolitical tensions between Russia and Ukraine have worsened over the past few weeks. Amid turbulent times, one cryptocurrency gained 2,614.52% at the time of writing, as the global crypto market cap plunged 4.3% in the past day. At the time of writing, Star Wars Cat (SWCAT) is trading at $0.000004008, according to CoinMarketCap data. Why did the NFT coin rise? Let’s answer this question after continuing the project…
What is Star Wars Cat (SWCAT)?
According to the official website, Star Wars Cat (SWCAT) is an NFT coin concept development and role-playing game (RPG). Using the underlying Blockchain, assets on the Blockchain are generated, collected, disseminated and developed, among other functions. Star Wars Cat has a distributed network and uses Blockchain technology to handle peer-to-peer (P2P) transactions. The official website mentions that players can exchange and communicate without a third party.
As an NFT product, the Star Wars Cat platform is made up of unique cats, and each cat series is collaboratively produced by a team of artists. Also, NFT cat can join the cat metaverse game and participate in farm mining, communication and fun.
SWCAT is Star Wars Cat’s native cryptocurrency and is available in all trading environments under the SWCAT ecosystem. The total supply of SWCAT tokens is 10 billion and the maximum supply is 233.6 million. Star Wars Cat has a self-reported circulating supply of 212.7 million, according to CoinMarketCap data. The cryptocurrency is listed on cryptocurrency exchanges such as PancakeSwap (V2) and Decoin.
NFT coin Star Wars Cat’s official Twitter account suspended
Cryptocurrency is a highly volatile market and large price spikes of lesser-known cryptocurrencies should be approached with caution. In particular, there was no apparent reason for the massive price increase. There have been numerous instances where the price of the NFT coin increased significantly and then disappeared in a short time. The official Twitter account of Star Wars Cat has been suspended, which occurs when an account violates the rules of the microblogging platform. You can follow the NFT news we conveyed as Kriptokoin.com here.
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