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15 Dec, 2017 10:39

PutinCoin surges 126% on cryptocurrency exchange

PutinCoin surges 126% on cryptocurrency exchange

A peculiar cryptocurrency named after the Russian president, PutinCoin, was among the best-performing digital assets on Friday.

PutinCoin was up 126 percent on the cryptocurrency exchange YoBit on Friday, trading at $0.04. The currency has a market cap of over $7 million.

“PutinCoin was created to pay tribute to the people and the president of one of the largest and greatest countries in the world: Russia! With PutinCoin a lot of possibilities will be provided for businesses, traders, private persons and social projects as the technology, services and apps are freely usable by everybody on this planet,” says the cryptocurrency’s website.

READ MORE: Putin disapproves of commercial exploitation of his image – press secretary

The popularity of Vladimir Putin in Russia has long been used by PR and marketing specialists without his consent. For example, there is a vodka brand named Putinka in Russia. Several Russian apparel companies have used his image on t-shirts and hoodies dedicated to Russia’s reunification with Crimea in 2014.