Cryptocurrency token grew 68 times over the past day

The SONM cryptocurrency (SNM) has demonstrated dozens of «Xs» over the past day. If we take data on historical highs and lows over the past 24 hours, the difference was 6700% or 68 times — at its peak, the token was sold for $ 13.5.

Traders and investors in the cryptocurrency market have not been able to name the exact reasons for the rapid growth in the value of this digital currency. However, there is one version. The fact is that the California-based Sonim Technologies Inc. listed on the Nasdaq stock exchange as SOMM has announced the launch of its own smartphone. This could be the reason why traders started buying the virtual asset, confusing SOMM and SONM.

This blockchain startup was launched in 2017 when SONM developers raised about $ 40 million during an ICO. They promised to create a decentralized supercomputer. This never happened, and the project was constantly haunted by scandals related to the activities of the development team.

The NoWorries editorial team does not recommend considering this token for investment!