Apple co-founder Steve Wozniak’s week-old token called efforce (WOZX) skyrocketed and doubled in a single day.
At pixel time (11:51 UTC), WOZX trades at USD 2.85 and up by 89% in a day, correcting lower from USD 2.97, reached earlier today. Yesterday, it traded at USD 1.42.
Wozniak has launched a new company called Efforce just days ago, meant to “to transform and disrupt the energy efficiency market,” as it was announced on December 4, while WOZX had gotten listed on crypto exchange HBTC a day earlier. The exchange then announced the listing of the WOZX/BTC trading pair on December 8.
The surge in price happened after WOZX’s second listing arrived, with Bithumb Global opening deposits and trading for the WOZX/USDT trading pair today.
Per the Efforce announcement, the HBTC sent the token’s market capitalization to USD 950m in the first 13 minutes, 10 times the listing price, while the company had received an initial valuation of USD 80m by investors in private sales, it said. Per CoinGecko, the market capitalization is almost USD 63m and the token is ranked 148th by this metric. The total supply of WOZX is limited to 1 billion.
Investors can participate in energy-saving projects and buy into them using fractional or whole WOZX tokens, said the company announcement, while they receive rewards in WOZX based on the amount of energy saved, which then they can sell or continue using.
Meanwhile, in a recent interview, Wozniak, one of six Efforce co-founders, said he doesn’t know how many WOZX he owns. “I don’t personally know how much I have for Efforce. I’m not operationally involved, and avoid financial considerations.”
He added that “I think of our tokens as shares of stock,” and that Malta, where Efforce is registered, “has an exchange and positive government support for it, to handle blockchain tokens with the appropriate regulation. This has been worked out over a long period with precautions.”