Due to the surge in market demand, the toilet paper coin launched by CMC has seen a 1,123% increase in price in the past 24 hours.

CoinMarketCap announces the launch of Toilet Paper Coin to address the global toilet paper shortage crisis. Due to high demand in the market, the coin has surpassed Bitcoin in 24-hour trading volume and has seen a surge of 1,123%.

Global Toilet Paper Solution

CoinMarketCap released an article today, detailing the concept and details of Toilet Paper Token (TPT). With the global spread of COVID-19, toilet paper has become an essential commodity in high demand, leading to shortages in stores worldwide. According to CoinMarketCap data, global demand for toilet paper increased by 5 billion rolls from November 2019 to February 2020, causing social unrest in many countries. As a solution to the toilet paper crisis, holders of TPT can use the token to purchase toilet paper online, and they can also receive firsthand information when stores restock, avoiding the need to wait in line or engage in disputes.

Upon its launch, the trading volume of TPT surpassed Bitcoin within 24 hours, with a price surge of 1,123%. The seven-day price trend has formed a significant double bottom pattern, indicating potential for further price increases in the future.

Happy April Fools' Day

In fact, both the TPT introduction (Wipe Paper) and the token trading data on the CoinMarketCap platform are all part of an April Fools' Day prank by CoinMarketCap to lighten the mood for investors after recent market downturns.

However, CoinMarketCap itself does not seem to be affected by the market downturn. According to reports yesterday, Binance is rumored to be acquiring CoinMarketCap for a valuation as high as $400 million, attracting significant attention from the crypto community.