Little-Known Coin Up 50% After Mention by BlackRock- Details

The energy web token (EWT) jumped 25% to a high of $3.18 Thursday and has since reached a little over $4.

EWT was praised by the world’s largest asset manager during its announcement of a spot Bitcoin private trust for U.S. institutional investors last week.

Investors of a little-known cryptocurrency are laughing all the way to the bank. This is after the energy web token (EWT) more than doubled in less than a week after enjoying huge praise from BlackRock.

Making an announcement about a newly launched spot Bitcoin private trust for the U.S. institutional investors, BlackRock praised Energy Web’s potential to introduce less environmentally damaging Bitcoin mining solutions.

BlackRock which has recently partnered with Coinbase to bring its institutional investors direct access to cryptocurrencies starting with Bitcoin has not shied away from the issue of carbon emissions.

In its announcement, BlackRock noted;

BlackRock is encouraged that organizations such as RMI and Energy Web are developing programs to bring greater transparency to sustainable energy usage in bitcoin mining, and will follow progress around those initiatives,

About EWT

Since, the Energy Web Token jumped 50% to a high of $4.17. Santiment has since reported a few interesting things about the coin and project.

There are no millionaire EWT holders at all.
The wealthiest EWT whales group didn’t exist before June 13th and after the BlackRock release.
The biggest holder is Gate.io exchange currently with EWT worth around $0.2M.

According to Energy Web’s website, its mission is “to accelerate decarbonization of the global economy.” It further notes that its community “is the largest open-source ecosystem focused on decentralized technology and the energy transition.”