Bitcoin btc
$ usd

Storeum Pumps $300 Million Market Cap With Just $40K Volume

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram
Storeum, a relatively unknown cryptocurrency, has surged more than 350% in the last 24 hours, pushing its market cap above $300 million. However, the pump happened with a volume of just $40,000.
Storeum is a blockchain project on Ethereum that claims to be the world’s first decentralized, peer-to-peer marketplace. After its launch last year, the project mostly traded below $0.10. However, a sudden interest in the token has sent its price soaring above $2, gaining more than 350% in the last 24 hours. On CoinMarketCap, it is the 29th largest cryptocurrency with a market cap of $309 million as of this writing. Storeum

Storeum and a Lack of Volume

Unsurprisingly, the token has little volume, reporting around $40,000 total in the last 24 hours, which caused its price to soar. It also comes as no surprise that the token does not have any liquidity. It is not listed on any of the popular cryptocurrency exchanges and is only tradeable against Ethereum on decentralized exchanges. The cryptocurrency community was definitely not happy with CoinMarketCap showing noticeable pumps. Davis (@karbonbased) from DefundCrypto mocked the pump which required no volume. Despite the lack of volume and apparent problems, Storeum believes that the artificial pump is right for the project. The project tweeted celebrating its breakthrough on the CoinMarketCap top 100, and thanked the community for standing by them.

Signs of an Obvious Scam

This is not the first time that Storeum has surged. The project has been consistently using fake volumes to gain traction on CoinMarketCap. Just two weeks ago, the coin pumped 1,550% with a volume of just $51,000 to become the top gainer of the day on CoinMarketCap. At this point, Storeum looks like a scam. There are very few details about the project on its own website. In fact, its ‘motivated team’ has only three members with generic names and no social profiles for them. Meanwhile, the company’s official Twitter account is using the pumps to encourage investors to invest in its token.
Images are courtesy of Twitter, Shutterstock.
Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Vignesh Selvasundar
With experience in journalism and marketing, Vignesh first came across Bitcoin in 2012. He quickly understood the importance of this revolutionary technology and later went...