Phoenix Global token soars by 5,600% in just four minutes — But there's a catch
Phoenix Global quickly became the 52nd largest cryptocurrency by market cap. It took just four minutes for a relatively unknown cryptocurrency to rise by over 5,600% as of Nov. 5, according to data from CoinMarketCap.Dubbed Phoenix Global (PHB), the token soared from $0.02057 to as high as $1.1413 on Nov. 5, with its volume dropping surprisingly — from $3.79 million to around $777,680 in the same period.Phoenix Global (PHB) price action in the last 24 hours. Source: CoinMarketCapNonetheless, at the core of the massive PHB pump was a token migration and a technical glitch, which....
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