PetronPay Security Token dumps hard in the last three months with no signs of recovering.
The crypto world specially in the last few months has not doing well when it comes to the value going up.
Bitcoin was at over $60,000 and now sitting at $39,000 which is a pretty hard hit.
When bitcoin gets hit, so do all of the other mainstream cryptocurrencies and altcoins.
Unlike the main cryptocurrencies and altcoins out there that have a proper project to back them up, it seems to me PetronPay Security Token is not showing any signs of recovery.
If you even look at meme coins like DogeCoin or Shiba Inu, you will notice they stabilized and even slightly trending back up.
PatronPay Security Token had climbed all the way to $3,443 on May 10th, 2021 which is just 35 days before this post being published.
If we look at it now, the value has dropped to $333 which shows how pumped this altcoin was from the beginning.
Dropping by 10x in just a month is a sign that this altcoin was created to pump then dump.
Note that Petron Pay Security Token is on some shady exchange and not on anything main stream.
In my original PetronPay review, I did conclude the company was operating as a ponzi scheme because they were offering crazy returns on investments.
Even though PetronPay was an oil based company, they stopped paying out in cryptocurrency because of the bitcoin crash.
This prompted the company to launch PatronPay security token for the companies exit scam strategy.
I noticed a lot of cryptocurrency MLM companies take this same exit scam strategy.
In the beginning they pay out in mainstream crypto, then recruitment slows down and they can no longer keep up with the payments.
One of two things normally happen here.
First is the company will blame some outside source and the website just goes offline.
Or they launch their own cryptocurrency and pay their members in useless altcoins with a pumped up value in the beginning.
PetronPay decided to take the second route…
This is the reason why PetronPay security token was worth $3,443 and now dumped to $333.
I believe it's going to get worse and worse until PetronPay just exit scams for good.
I have been warning people about this for a while, but I guess some people are just too blind to see what is happening.
For more PetronPay news, make sure you come back often to see and I will keep you in the loop.
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