What you need to know about Chary Token

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I spent most of the day hanging out with my lady and trying to get y mind off things that are bothering my mind. i got back on my PC for my evening rounds and I noticed an astonishing $2.5+ bump in the value of my Hive-engine wallet because of a massive pump in the value of Chary token.

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If you check your Hive-engine wallet, you probably would have noticed that your second layer token wallet value also experienced a decent pump that is based on the number of Chary tokens in your possession.

Honestly speaking, I have o idea how I even got Chary tokens. However, I do know that the issuer is achimmertens@achimmertens and Chary also has its own front-end.

I'm not going to lie, when I saw the pump, I thought it was a pleasant surprise but at the same time, I knew for sure that it wasn't going to be real. However, it still looks nice, generally speaking.

Alas, this token turned out to be exactly what I thought it was going to be and it is also a nice way to educate the public about how liquidity works when you're calculating your portfolio value.

When I saw the token in my wallet, the first thing I did was go to the trading activity and it turns out that there was only like 3 Hive worth of volume in a 4-minute span. So, what this means, in summary, is that whatever value you see on your wallet is not a fair reflection of the market.

In fact, there's literally only one buyer that's paying the Hive that constitutes the entire trading volume of this Chary token.

About the token

It turns out Chary token is the governance token of a platform that is all about Charity related stuff. According to the description;

This is the charity token. Use it to support charity helpers / people that do good things to others. It is the follower of the NOBEL token from Steem-Engine.

The token has a maximum supply of 1 Billion tokens and only a bit over 1 million tokens have been minted. The front-end is also quite empty with each publication being multiple days apart.

I'm assuming that the tag for the front-end is "chary" but with literally no buy order, there's absolutely no demand for the token.

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It is a really low-key token that just popped into the top of your wallet because of a couple of buy orders and nothing more.

In summary

The chary token has an insignificant trading volume, so whatever value you see in your wallet is not reality. In reality, it is a token with low demand.

It is supposed to represent different forms of charitable causes and perhaps one day in the future, it could mean more than it currently does today. Unfortunately, as a token right now, it is irrelevant in the general scheme of things.

I won't recommend buying it, solely based on the trading activities in the market. However, if you dig deeper and find that it is genuinely for a charitable cause that could genuinely improve the lives of people anywhere in the world, then you might as well go for it.

In any case, keep calm, don't invest funds that you can't afford to lose and always do personal research before aping.

What you need to know about Chary Token | Ecency