How CityCoins Accidently caused a Different $NYC to spike +800%

Yes everyone seems to be filled with excitement and pure joy in relation to metaverse opportunities. And spending all their $ETH on any new NFT set. However, don't sleep on the opportunities being made with CityCoins. This community has already partnered with the city of Miami, Florida and gotten their mayor on board to create the first token, designed to create a standing fund for a specific city on the blockchain. Think of it like an Endowment account for a university, but for the whole city. Built on the stacks network, people are able to mine into the coin and then stack onto the coins ledger increasing the coins value for the city. This creates a pool for the city to use for however they see fit. Check the graphic below. 

how citycoins works

 CityCoins is very proud of their project and their success in their test market of Miami. their first coin $MIA, has created a standing balance for the city of 22 million USD. Excited with this news and unsure of what else to do with the funding the current mayor of Miami has announced his intent to distribute the coin benefits to the citizens of the city, potentially creating a UBI (Universal Basic Income) safety net for the people of Miami. 

But how does this make New York Coin, ($NYC) a crypto around since 2014 go +800% ? 

Off the news of their great success in the initial test market the CityCoins brand wanted to the hit the big apple next. They announced that they will write and create code to allow mining and stacking of NYCCOIN, starting November 10th. Now while they are doing with New York the exact same thing that they did for Miami. The crypto world went hunting for a leg up, and found the crypto $NYC (New York Coin). Which shared the same ticker shortcut as the new crypto being mined into existence by CityCoins, and they went bonkers thinking that this was in fact the very crypto being out with CityCoins, or perhaps as I initially thought, the coin was merging onto their platform, as this is a common thing in the crypto community. 

The coin went viral for a short span, seeing a rise from .00003$ on Nov 8, to spiking on November 10th at .000258$ an increase in price by 800% in 48 hours. This was a shock an surprise as New York Coin is an older crypto that while being form the same generation as Dogecoin, Litecoin, Stellar, Dash, and Ethereum; the coin just never saw the massive value pop the way all the aforementioned tokens did. It continued to exist but just wasn't making any ground. 

However, as the news became understood, and many holders of New York Coin, found an actual positive opportunity to swap out their coin for the only strong positive they have had in year the market cooled down and returned the minor coin back down lower. It still rests +350% as of this articles release. Yet the news has gotten out. CityCoins' NYC COIN, isn't affiliated with New York Coin.

In the short time since launch, CityCoins has raised over 1 million USD for the city of New York's endowment account. Making the project of creating a holding pool for cities that much more of a viable option. When exploring their discord server, we can already see that Austin, TX will be their next city launch, with expectations to launch next month.

Will New York Coin (the unaffiliated coin) ever rise again? Will all cities eventually have their own coin? Of these three initial city coins, which will end up producing the most for the city?  

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life is fun when you fight hard for fun. I am a crypto fan and holder. with the goal of being a hard faucet tapper all day long baby

Odd Things in the Crypto World
Odd Things in the Crypto World

The Crypto world is filled with the most strange and peculiar occurrences. One person makes the right tweet and boom +300% one person misquotes and bang, it is a bloody day. Crypto is crazy so lets explore it together

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