Truck Racing Altcoin Buggyra Coin Zero (BCZERO) Extends Monthly Gains to 2,650%

Buggyra Coin Zero (BCZERO) was covered on Hacked last week when it recorded 1,929% growth over three weeks in December.

A little digging into the ERC-20 token’s origins revealed a cryptocurrency without a whitepaper or any discernible technical team to speak of, as well as a unique use-case not yet witnessed in the blockchain space.

All odds were on a major correction hitting BCZERO following the recent twenty-fold price increase. However, the token’s value only continued to surge leading into the new week, as Monday’s 35% increase compounded total 2,650% growth for the month.

Buggyra Tokenomics

What we have here is a classic high-supply, low-volume cryptocurrency which can be pumped and/or dumped for very little initial outlay. According to CoinMarketCap, there are 1,678,609,241 BCZERO tokens currently in circulation, from a total supply of 10,000,000,000.

Those tokens are currently priced at around the five cent range, giving Buggyra Coin Zero a total market cap of $87.6 million. That’s enough to place it near the top fifty cryptocurrencies by market cap, and ahead of more developed projects such as Komodo (KMD) and Holochain (HOT).

There are just over 2,000 holding addresses listed on Etherscan.io, and combined daily trade volume from the Livecoin and Instant Bitex exchanges amounts to just over $30,000.

Given the lack of technical documentation surrounding BCZERO, no information is currently available regarding token distribution. The project website features a vague FAQ section and not much else. The website gives attribution of the project to ‘RICHFORD SECURITIES Ltd’, which is based in the United Arab Emirates.

Truck Racing Crypto

A more detailed rundown on Buggyra Coin’s projected use-case can be read here, but to sum it up, the project is self-described as:

“…a platform for the future funding of all kinds of payments to the Truck Racing Community worldwide that is built on Top of the Ethereum blockchain.”

The Buggyra truck racing team is based out of Europe and competes on the world circuit in truck racing events. The crossover between truck racing and cryptocurrency, to the best of this author’s knowledge, remains slim.

Buggyra Coin Price – BCZERO/BTC

All of BCZERO’s daily trades came against BTC on Monday, but the highest gains were to be found relative to the dollar given Bitcoin’s own ascent on Sunday night.

From a daily low of $0.038635, BCZERO climbed 35% against the dollar, hitting a peak of $0.052631 by noon (UTC). Gains against BTC came in at around 29% as Bitcoin broke the $4,000 barrier and flirted with $4,100 before a slight pullback.

Overall monthly gains for the only truck racing cryptocurrency in existence now stands at 2,650% – a growth spurt only matched by the recently pumped Repo Coin (REPO).

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.