The bitcoin gold price has bot surging this week, te part due to the addition of BTG trading pairs to cryptocurrency exchange giants Bithumb and Bitfinex.
Spil CCN reported, bitcoin gold got off to a rocky start after forking away from the main bitcoin blockchain te early November. Beset by DDoS attacks, a third-party wallet scam, and questions about its developer premine, the bitcoin gold price languished below $200 for most of November.
However, on November 20, the bitcoin gold price began to surge. Within six hours, the bitcoin gold price rose from $120 to $341 during a flurry of trading, and – following a dip back to $230 on November 22 – the bitcoin gold price continued to climb during the latter half of the week. On Friday, bitcoin gold rose another 35%, shortly raising it spil high spil $420 on cryptocurrency exchange Bitfinex. At present, bitcoin gold is trading at $384 and has just under $500 million te daily volume, according to CoinMarketCap gegevens.
BTG Price Chart | Source: TradingView
The rally shows up to be predicated on enlargened support from established cryptocurrency services and exchanges. Earlier this week, for example, Freewallet created the very very first dedicated mobile wallet for bitcoin gold.
But perhaps more importantly, the world’s two highest-volume cryptocurrency exchanges – Bithumb and Bitfinex – have added bitcoin gold trading pairs and have begun accepting BTG deposits within the past two days. While not a assure of long-term viability, being listed on thesis exchanges provides a cryptocurrency with significant liquidity.
At the time of writing, Bitfinex had not even bot accepting BTG deposits for a total day, but the coin had already accumulated more than $76 million te volume at that exchange, 2nd only to Bithumb’s $211 million.
CoinMarketCap has not begun tracking BTG’s Bithumb pairs yet, but Bithumb reports that it has exchanged a staggering $400 million during its very very first day on the verhoging, bringing total BTG volume close to $1 billion.
Nevertheless, it is significant for investors to temper their expectations. Most bitcoin gold holders have likely not access their airdropped coins yet, so they may view this rally spil an chance to take their “bitcoin dividend”. Moreover, it is unclear to what extent – if any – the rally is the result of an orchestrated pump, and to what extent it represents organic request.
Featured picture from Shutterstock.
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