Toilet paper seems to continue the tendency of being the world’s most wanted commodity as it’s brand new Toilet Paper Token (TPT) is already seeing shortages on cryptocurrency markets.
Probably for today only as CoinMarketCap, that settled TPT on top of all cryptocurrencies list, seems to be prepared with breaking news for April Fools day.
The famous website ranked Toilet Paper Token as the number 0 with a market capitalization of $85,583,000,000. This means the brand new token, which was released just yesterday, already outrun the leading cryptocurrencies like Bitcoin (BTC) and Ether (ETH) which firmly stand at 1 and 2 positions.
The data of CoinMarketCap also show the enormous growth of TPT sales, which skyrocketed 1,123.97% over the past 24 hours, with $41,758,500,000 in volume.
At a press time, the Toiler Paper Token sits a price of $1.64 USD, however, it’s circulating supply is “out of stock”.
Following the technical analysis, the double-bottom price graph pattern shows a rebound as its W shape indicates a further bullish price movement.
The socially responsible mission revealed in White Paper
Like all major cryptocurrencies, TPT also reveals its White Paper, published in CoinMarketCap’s blog. The insights called “Light-hearted” are published under the date of April 1st.
The document introduces the history of an asset, leading to the present days as the toilet paper becomes much more than just a paper since the end of 2019. According to the document:
COVID-19 pandemic have made toilet paper a commodity of extremely high demand — so high, in fact, that it was out of stock in stores worldwide and caused societal unrest among customers.
According to the White Paper, with TPT users can purchase toilet paper online to avoid increased exposure to coronavirus, as well as maintain a record of how many rolls they are guaranteed. The document adds, that holding TPT ensures a fair distribution of toilet paper worldwide, which ultimately contributes to TPT’s mission: saving humanity from regressing downwards to the first two levels of Maslow’s needs hierarchy.
The paper lists a total supply of 8 billion TP tokens, that are available to purchase on Shitake Exchange from April 1st.
Gloomy news more light-heartedly
This year’s April Fools day comes when the whole world is suffering from coronavirus pandemic and crashing markets.
As the vast majority of countries have locked down in quarantine, the isolated citizens in response to supply shortage anxiety began to stockpile products, especially canned food and other longer-lasting products as well as hundreds of rolls of toilet paper.
The demand for toilet paper has risen sharply worldwide. In supermarkets it is sold out instantly, and people even often stay overnight due to the possibility of purchasing an additional roll.