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About WPKT

WPKT is a 1-to-1 peg to PKT, which is a bandwidth-backed currency that is scarce and mined using the world’s first bandwidth hard Proof of Work called PacketCrypt. There can only be 6 billion PKT in existence, and so there can never be more than 6 billion WPKT. WPKT is an BEP20 token and is compatible with all BEP20 platforms.

Wrapped PKT (WPKT) is a cryptocurrency launched in 2021. WPKT has a current supply of 70.90M with 70.90M in circulation. The last known price of WPKT is 0.001061890589 USD and is 0.000004440795 over the last 24 hours. It is currently trading on active market(s) with $18.32 traded over the last 24 hours. More information can be found at https://odapp.io/.

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WPKT Price Statistics
WPKT’s Price Today
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Updated Jun 24, 2024 4:54 am
Wrapped PKT
Mkt Cap $75,290.74
There's nothing here for now
Curve Finance Founder's Large Token Holdings Lead to Market Panic
Curve Finance Founder's Large Token Holdings Lead to Market Panic
According to Bloomberg, in the cryptocurrency industry, it's typical for founders to accumulate substantial amounts of their project's native token as a stake in the business. This approach, while promoting transparency and offering a more liquid exit strategy, can sometimes lead to complications. For instance, when executives and venture-capital backers hold significant portions of a token, market liquidity can become scarce when they sell. This has led some to resort to unconventional methods to liquidate their holdings. A recent incident involving Curve Finance founder Michael Egorov serves as a prime example. Egorov's trading of nearly $96 million in stablecoin loans was backed by approximately $140 million of his CRV holdings as collateral. This collateral was spread across several DeFi platforms, including Curve's own LlamaLend. However, when the price of CRV plummeted following the hack of a small DeFi lender this month, the value of Egorov's collateral also fell, forcing his positions into liquidation. This forced selling resulted in millions of dollars in bad debt for Egorov and Curve, and triggered widespread market panic among CRV investors. The value of the coin briefly hit a record low following the liquidation. Egorov subsequently sold more CRV tokens in an over-the-counter deal to cover most of Curve's bad debt. In a statement, Egorov confirmed that he personally repaid most of the bad debt and was committed to ensuring that all users could withdraw their deposits without any issues. This incident highlights the challenges faced by crypto founders and early backers when they attempt to realize the value of their holdings. The market's volatility and immaturity often mean that holdings are too dense for buyers to handle when sold in large quantities. This experimental nature of crypto markets allows for such situations, giving buyers, sellers, and builders the freedom to test the boundaries of finance without traditional rules.
Jun 24, 2024 3:33 am

Frequently Asked Questions

  • What is the all-time high price of Wrapped PKT (WPKT)?

    The all-time high of WPKT was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Wrapped PKT (WPKT) is 0. The current price of WPKT is down 0% from its all-time high.

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  • How much Wrapped PKT (WPKT) is there in circulation?

    As of , there is currently 70.90M WPKT in circulation. WPKT has a maximum supply of 0.

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  • What is the market cap of Wrapped PKT (WPKT)?

    The current market cap of WPKT is 75,290.74. It is calculated by multiplying the current supply of WPKT by its real-time market price of 0.001061890589.

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  • What is the all-time low price of Wrapped PKT (WPKT)?

    The all-time low of WPKT was 0 , from which the coin is now up 0%. The all-time low price of Wrapped PKT (WPKT) is 0. The current price of WPKT is up 0% from its all-time low.

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  • Is Wrapped PKT (WPKT) a good investment?

    Wrapped PKT (WPKT) has a market capitalization of $75,290.74 and is ranked #2440 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Wrapped PKT (WPKT) price trends and patterns to find the best time to purchase WPKT.

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