New Crypto Is Surging Right out of the Gate

The cryptocurrency market is down today a hefty 3.70% overall, but there are still some winners on the market. Animal Friends United (AFU) is up 415.77% today, bringing the AFU rate to $0.01023 (AFU/USD) and making it today’s big crypto token winner.

The AFU Path to Profits

This crypto the the market just yesterday, with an early Thursday morning launch. It started out at $0.001985. The AFU price mostly increased since then, rising steadily from hour to hour. However, in the late morning hours of Friday, the rate shot up substantially and moved from $0.003616 to $0.008654 in the course of 30 minutes, more than doubling its value in that time. It has continued to shoot up since then.

What is Animal Friends United? This new crypto is designed to take some of its profits and send them out to causes that protect animals. The coin is supposed to fund animal shelters, animal charities, and conservation efforts.

However, it should be noted that this is a new and unproven crypto, so there is a risk that it will be unstable, vulnerable to hacking, or simply a scam. There is little information about this coin on the web, including which specific charities and animal programs it supports.

Can Animal Friends United Sustain Its Bull Trend?

Because AFU is so new, it is impossible to say how long this current bull trend will continue for and if it can be maintained. It is unlikely to remain at its current rate of increase, though, so even if the price doesn’t plummet sharply the next day or two, we are not likely to see similar huge price increases in the near future.

AFU does have a current trade volume of $5.5 million, so it is harder to manipulate than similar small cryptos. However, investors need to wait and see if they can cash out their tokens and if trading platforms will let them use their AFU tokens to buy more reliable and proven coins.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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