According to the latest data by analytics firm CoinMetrics, total all-time miner revenue surpassed $1 billion for the first time this November. Although mining crypto is a profitable venture, it has its limitations, including a high entry barrier due to costly mining equipment. Another alternative to mining is rewards-based tokens like EverGrow, whose revolutionary contract distributes 8% from each transaction in Binance-pegged USD among its holders.
This concept of rewarding holders in stable coin took the cryptoverse by storm and EverGrow managed to attract more than 110,000 token holders within just 2 months of launch. This is an exceptional pace of growth compared to the time taken by cryptocurrencies like Dogecoin for mass adoption after backing from influencers like Elon Musk.
EverGrow Coin offers a suite of utilities within an ecosystem designed to create fundamental value and pay ever-increasing rewards to holders. 100% of all profits generated from EverGrow;s utility ecosystem will be used to ‘BuyBack’ EverGrow from the open market and then burn it permanently. This creates both positive price action and BUSD rewards for all holders, whilst constantly reducing coins in circulation.
To increase the overall ‘BuyBack & Burn’, Evergrow’s contract also has a inbuilt Buyback & Burn mechanism which is funded by 2% tax on every transaction. Buyback function will work in parallel with utilities to make EverGrow scarcer over time.
These utilities include Crator, an exclusive content creation platform for artists which bridges crypto with fiat and allows creators in any category to work and earn in a currency of their choice. Crator is predicted to rival Onlyfans and Patreon. Beyond Crator, EverGrow recently made an announcement for a new crypto wallet and a Play2Earn game; two sectors that are currently booming. EverGrow’s ecosystem will also include an NFT lending platform, NFT marketplace on the Binance Smart Chain to execute faster and cheaper minting transactions. EverGrow seems to be set on competing directly with multiple global crypto projects and by bringing all these utilities under one roof.
Dogecoin price holds steady near the $0.17-0.18 price, halting any further downside movement for now. However, with the overall crypto markets in negative territory, Dogecoin has formed a bearish flag pattern that could possibly add fuel to its bearish fire.
With its revolutionary contracts, EverGrow Coin quickly grew to over $1 billion in market-cap, but then a major data error on CoinMarketCap, just weeks into the launch, caused mass panic amongst investors. CoinMarketCap recently placed an alert on EverGrow’s page, confirming that the data error had been fixed. The price has now stabilised, and signs of returning confidence saw an increase of 20% from the recent lows, with Bullish chart indicators suggesting further recovery from here.