JP Token (JP) is a cryptocurrency that is said to be designed to create long-term value. Its developers believe that building great things takes time, and success requires a long-term commitment from team members.
Today we are going to look into JP Token and analyze the price performance of its native token JP to determine whether the project is real or fake.
So, let’s get started.
What is JP Token?
JP Token is said to be a skill-sharing platform where the likes of gamers, NFT artists, and even social media influencers can come together and network. The platform is managed by a Japanese coin listing site called JPToken.
The JP Skillshare Marketplace is where JP users can buy and sell goods and services from businesses or individuals for personal use. All services provided on the JP Token platform will be strictly online and users can settle payments using various cryptocurrencies when purchasing and selling.
The ecosystem’s developers noted that it is important for users to be aware of what’s happening in the ever-evolving crypto and blockchain sector. Therefore, the JP Token platform will inform its users of the latest developments in the market.
What is JP?
JP is the native token of the JP Token platform. The cryptocurrency is ranked 5,240 out of all 8,988 tokens listed on CoinMarketCap. That itself gives you an idea of how low JP lays.
The utility token is supposedly used for paying for goods and services availed on the JP Token Marketplace. All transaction fees on the social network are paid in JP.
JP Token has created a total of 3 billion JP, out of which all the tokens are currently in supply. At the time of writing this article, JP is trading at $0.000190 – down 1.3% in the last 24 hours. The network has had a 24-hour trading volume of just $2,517.
The market cap of JP Token is $549,386 and the fully diluted value of the number of tokens in supply stands at $571,482.
Is JP Token Real or Fake?
JP Token aims to be a social networking platform for the Web3 community. The project has plans to introduce a marketplace where NFT artists, social media influencers, gamers, and business owners can come together.
The marketplace is powered by the JP coin, which is used to pay fees and also as a medium of exchange for availing goods and services.
However, besides some cliche wordings, the project’s website does not offer much information about its objectives. Meanwhile, the token is ranked 5,000 out of the 8,000+ tokens listed on CoinMarketCap, indicating how low the asset is regarded in the market.
Since there is no real purpose or utility for both the JP platform and the JP token, it cannot be considered a legitimate platform. The platform is hardly used by anyone and has had a 24-hour trading volume of around $2,520.
Therefore, I would recommend not to put your money into JP as it is a fake cryptocurrency project that lacks any direction or purpose.
Crypto Article: Is Grape Legit Or A Scam? Revealed!
Conclusion
Cryptocurrencies are highly volatile assets that can experience price fluctuations from time to time. The most important thing you need to know before investing in crypto assets is to understand the project’s purpose and what solution it offers to the development of blockchain technology.
Therefore, it is crucial to do your research before making investment decisions, and only put in money that you can afford to lose.
Crypto Article: Is Polygon Legit Or A Scam? Exposed!
