Hello ladies and gentlemen, it’s April Fool’s day. The cryptocurrency data site, CoinMarketCap, saw massive volumes for new “Toilet Paper Token.”
CoinMarketCap, a website known for listing cryptocurrencies in order of market cap value, listed Toilet Paper Token (TPT) as number “0” at the top of its list on March 31, showing a circulating supply of “out of stock”.
Despite that it is still the last day of March in some parts of the world, the annual day of pranks and tricks has reached parts of the Asia-Pacific already.
A bit of Laughter Amidst Tough Times
April Fool’s Day 2020 comes in the middle of fears about coronavirus and declining markets.
In light of different world governments telling people to stay home as well as supply shortage anxiety, people have taken to the shelves, buying mass toilet paper quantities. Such demand brought shortages.
With $41,758,500,000 in volume, CoinMarketCap’s Toilet Paper Token price sits at a $1.64 during press time, up 1.123.97 percent over the past 24 hours.
The token’s chart showed the asset recently completed a nice double-bottom pattern, which historically led to higher rallies in prices.
Wipe Paper Shows When You Click the Token
The token when tapped will lead to “Wipe Paper” of the asset — a joke on the white papers that cryptocurrencies start man. The paper displays a date for April 1.
Write-up details of toilet paper throughout the ages, leading to today’s consumers, who since late 2019 have stocked up on much more commodity:
“TPT utilizes “smut contracts” to keep track of the total number of rolls that users (hereafter referred to as wipers) have purchased, and also maintains a record of how many rolls you are guaranteed. With TPT, users can purchase toilet paper online to avoid increased exposure to ‘Rona and take advantage of the Ply Count algorithm that calculates how much toilet paper each household is entitled to receive.”