Backing leads us to something physical to be money.
Money is not physical. It's a mental note on who owes me a favour, that became you owe me a unit of account.
Backing is a red herring, it's how we used to best manage scammers cheating the ledger of "you owe me".

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Original Odaily(@OdailyChina)
Author/ Wenser (@wenser2010)
The crypto market continues its downward trend with volatility. However, even in this sluggish market, a few tokens have bucked the trend, maintaining their own independent rhythm of "big rises and falls." This Odaily will analyze these recently high-performing "monster coins," attempting to summarize their commonalities and help identify the next investment targets with the potential for explosive growth.
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Author/ Wenser (@wenser2010)
Original title: Five cryptocurrencies defy market trend and surge; which is the next potential coin?
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The crypto market continues its downward trend with volatility; however, even in this sluggish market, a few tokens have bucked the trend, maintaining their own independent rhythm of "big rises and falls."Odaily will analyze these recently high-performing "monster coins" in this article, attempting to summarize their common characteristics...