The price of cryptocurrency Kuma Inu KUMA/USD has surged 82.4% to $0.00000005179 over 24 hours in the early hours of Tuesday.
What Happened: Kuma Inu rose 85.1% against apex cryptocurrency Bitcoin and also gained 89.3% against Ethereum. The altcoin is down 5.2% from its all-time high of $0.00000056 reached earlier on Monday.
For comparison, the apex meme cryptocurrency Dogecoin DOGE/USD traded 5.24% lower at $0.2261 at press time.
Why It Matters: Kuma is the native token that is used in the Kuma Breeder, a yield farming protocol. The project behind the token says it is fully decentralized and is community-driven.
Kuma Inu says on its website that it is a community-focused decentralized finance (DeFi) cryptocurrency project, consisting of Kuma Breeder, Kuma DEX and Kuma NFT.
Kuma launched its v1 token in May with one quadrillion tokens. 50% of the supply was sent to Ethereum co-founder Vitalik Buterin’s wallet, while 3% was sent to the token’s early investor Shiba Inu SHIB/USD.
The project behind the token announced the Kuma Token V2 migration in June.
Kuma Inu announced on Twitter in September that it accidently burnt all liquidity provider tokens.
Photo: Courtesy of Kuma Inu
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.