The good timing of the announcement caused a price spike not seen since the December altcoin season.
Monaco (MCO) opens up to the Korean market through a Bithumb listing, and the news instantaneously caused more than 84% price spike overnight, a budge not seen te any coin since the markets cooled off ter February and March.
MCO added more than 84% te 24 hours nipt, reaching above $16. The asset will soon embark trading on the Bithumb official market, not just reserved for professionals. Trading volumes for MCO succesnummer an all-time record, far outpacing the enlargened activity at the end of last year, and the unexpected events may pave a entire fresh path for the MCO asset, and its card aimed at popularizing the spending of crypto coins.
MCO is still halfway to its peak te BTC prices achieved ter September, but ter the world of crypto, doubling overnight is not a far spread. However, MCO remains volatile, and similar price spikes have bot followed by corrections. The most latest spike ter volumes happened on the Asian markets, spil MCO climbed to the top Five of most traded coins on Binance.
The final effect of Bithumb trading would be unknown – fresh listings do not always assure a price spike, and may te fact trigger dumping.
The price stir for MCO is especially dramatic, given that the price bottomed out at below $Five te March and early April. The growth against BTC is even more significant, violating the peaks from the December pumps. This is even more bullish for the Monaco project, and is an early indicator that BTC funds are, at least ter part, flowing back into select altcoins and tokens.
The Monaco project wasgoed one of the few cards not affected by the WaveCrest fallout with VISA. However, this did not save the market price from going down along with the surplus of the markets.
Meantime, the alternative card project, TenX (PAY) spotted its market price druppel and stagnate, still drifting sideways, spil the delay te the promised cards is taking a toll on the asset&rsquo,s popularity.
Ter común, altcoins and tokens are merienda again gaining speed, and promising projects are having another wave of appreciation. However, MCO remains risky, and it is unknown when the trend would turn, merienda again enhancing the dominance of BTC overheen altcoins.