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April 1st joke from CoinMarketCap: Toilet paper token

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April 1st joke from CoinMarketCap: Toilet paper token

Those who are entering CoinMarketCap today will encounter a cryptocurrency that is above Bitcoin and has increased by 1123 percent in the last 24 hours.

Today, those entering the cryptocurrency data and price tracking platform CoinMarketCap will encounter a cryptocurrency that is at the top of the list, above Bitcoin: Toilet Paper Token (TPT).

The site shows that this token has gained 1123 percent in the last 24 hours and even that all stocks have been exhausted in the circulating supply section. If anyone is stunned by the rate of increase at first sight and the cryptocurrency being first, this is just the April 1 joke of CoinMarketCap.

Toilet paper shortage

With the effect of the coronavirus epidemic, governments’ incentives for people to stay at home and curfews in some countries led to toilet paper shortage. Many people who flocked to the markets emptied toilet paper racks. Moreover, toilet paper prices were seen to increase exponentially. This brought along allegations that the joke-mixed toilet paper was a good safe harbor asset during times of uncertainty.

Cryptocurrency based on toilet paper

On the other hand, a developer recently announced that he developed a cryptocurrency supported with toilet paper under the name of Toilet Paper Coin (TPC) According to the project, each token can be exchanged for real-life 3-layer toilet paper with the transfer of tokens to a smart contract connected to the Amazon e-commerce API. 1 TPC was designed to be equivalent to a 3-ply or 500-sheet toilet paper roll.

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