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The cryptocurrency market has continued to remain impressive, as several crypto assets keep performing beyond expectations and predictions.
However, Metacoin (MTC), relatively unknown altcoin has even risen far above market sentiments, gaining more than 486% within 24 hours.
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Metacoin (MTC) is the first Hyperledger-based cryptocurrency in the market, and it seems investors have queued up to throw their weight behind the altcoin.
The Linux Foundation founded Hyperledger, with several premium members overseeing the platform. The premium members consist of finance and technology companies, including Hitachi, Fujitsu, J.P. Morgan, and IBM.
All-time volume high
Apart from the price of Metacoin making a massive jolt, its trade volume also increased impressively to $482,000 on Monday. It surpassed its previous all-time high of $444,000 recorded in August last year, two weeks after the altcoin was first unveiled in the market.
The coin is still relatively unpopular compared to other well-known coins, but it’s BTC pairing could have ignited the massive bull run in a very short time.
But despite the performance, there is no available data on the coin on the Bittrex Global site, with the BTC/MTC pair still “offline” on the site.
Performance coming after Bittrex’s listing announcement
The gain is coming following Bittrex announcement that it will be listing the token on its exchange platform.
Metacoin is built based on the Hyperledger network and uses an open-source technology that develops permissioned blockchain ecosystems for large cross-industry enterprises.
The altcoin was launched in 2018 became the first Hyperledger’s cryptocurrency to achieve mainnet status.
Global crypto exchange Bittrex Global, on January 15, announced that it will be opening its Metacoin wallets for MTC depositors. It also said that users will be able to trade against Bitcoin on the platform soon.
Only two days after the announcement was made, MTC’s value rose by more than 400%. Before the announcement, the price was valued at $0.026540 on Sunday. However, it rose to an impressive $0.155600 by Monday afternoon, indicating a 486% increase.
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