Crypto Whale Invests $100k in EV Payments System C+Charge – Why You Should Buy CCHG Too
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Investors are rushing to secure the pre-sale tokens of promising, up-and-coming green crypto project C+Charge, with a whale recently bagging a massive $99,000 tokens in one go, as can be verified on per BscScan. C+Charge is building a crypto-powered peer-to-peer electric vehicle (EV) charging payments platform that, according to observers, could revolutionize the EV charging industry.
That’s because, C+Charge’s platform will offer EV owners the opportunity to earn carbon credits each time they charge their vehicles, an industry first. In just a few weeks since the project launched its presale funding round, it has already raised nearly $250,000. C+Charge is currently selling its CCHG token, which will power its EV charging application, for 0.013 USDT, a highly discounted price according to some analysts.
What is C+Charge?
C+Charge is developing a peer-to-peer blockchain-based payment system designed to open up the carbon credit reward market to the drivers of EVs, like Tesla.
EV drivers will use the C+Charge application to pay to charge their vehicles. They will pay using C+Charge’s native cryptocurrency CCHG and will be rewarded with carbon credits in the form of Goodness Native Tokens (GNT), which will be stored in their account on the C+Charge app. GNT token represents a verified voluntary carbon credit and is backed by venture capital firms a16z Crypto and Samsung Next as well as fund manager Invesco.
The more EV owners charge and drive and the more CCHG they spend, the more GNT they will earn. CCHG also have an opportunity to earn carbon credits passively. There is a 1% tax on all transactions that C+Charge uses to purchase GNT carbon credits and then distribute them proportionately amongst CCHG token holders.
As well as acting as a payments platform for EV charging and a carbon credit tracker, C+Charge’s application will also help users easily geolocate nearby charging stations and will offer useful information such as real-time charger wait times and charging station technical diagnosis.
C+Charge Could Be a Big Hit, With the Carbon Credit Market Set to Boom
Given the pace of recent growth in the carbon credit market, as countries race to address climate change, C+Charge could be a big hit. According to analysts at Refinitiv, the value of carbon credits traded increased by 164% in 2022, reaching a total trading volume of $851 billion.
Meanwhile, according to analysis from Coherent Market Insights, the market cap of the global carbon credit market was around $211.5 billion in 2019 and is expected to grow to over $2.4 trillion by 2027. But the carbon credit market has a big problem. Its centralization and concentration.
The carbon credit market remains dominated by big players and remains largely inaccessible to individuals. Big manufacturing/industrial sector players get to buy credits on mass. Big sellers, like electric vehicle (EV) maker Tesla, get to sell credits on mass. Up until now, technology hasn’t been there to democratize access to this rapidly growing market. C+Charge is hoping to change that, whilst also bringing other benefits to the EV charging space such as more transparent pricing and real-time charging station information.
Investors should also be aware that C+Charge is conducting a $50,000 giveaway. Investors must hold at least $100 of CCHG on the day of the draw to be eligible to win the prize.
