Apple Co-Founder Wozniak-Backed Token Doubles in a Day

Altcoins Energy Market

Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:55 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Apple co-founder Steve Wozniak’s week-old token called efforce (WOZX) skyrocketed and doubled in a single day.

At pixel time (11:51 UTC), WOZX trades at USD 2.85 and up by 89% in a day, correcting lower from USD 2.97, reached earlier today. Yesterday, it traded at USD 1.42.

WOZX price chart:

Wozniak has launched a new company called Efforce just days ago, meant to “to transform and disrupt the energy efficiency market,” as it was announced on December 4, while WOZX had gotten listed on crypto exchange HBTC a day earlier. The exchange then announced the listing of the WOZX/BTC trading pair on December 8.

The surge in price happened after WOZX’s second listing arrived, with Bithumb Global opening deposits and trading for the WOZX/USDT trading pair today.

Per the Efforce announcement, the HBTC sent the token’s market capitalization to USD 950m in the first 13 minutes, 10 times the listing price, while the company had received an initial valuation of USD 80m by investors in private sales, it said. Per CoinGecko, the market capitalization is almost USD 63m and the token is ranked 148th by this metric. The total supply of WOZX is limited to 1 billion.

Investors can participate in energy-saving projects and buy into them using fractional or whole WOZX tokens, said the company announcement, while they receive rewards in WOZX based on the amount of energy saved, which then they can sell or continue using.

Meanwhile, in a recent interview, Wozniak, one of six Efforce co-founders, said he doesn’t know how many WOZX he owns. “I don’t personally know how much I have for Efforce. I’m not operationally involved, and avoid financial considerations.”

He added that “I think of our tokens as shares of stock,” and that Malta, where Efforce is registered, “has an exchange and positive government support for it, to handle blockchain tokens with the appropriate regulation. This has been worked out over a long period with precautions.”
___

Learn more:
Sorry, Bitcoin, Altcoins Start Grabbing the Spotlight in Mainstream Media
Crypto in 2021: Institutions Prefer Bitcoin, Retail Open to Altcoins