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Qtum [QTUM] goes berserk and propels by 55% in the past 24 hours

Himanshu Kumar

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QTUM zooms by 55% in the past 24 hours
Source: Pixabay

QTUM is the only virtual currency in the Top 100 tokens to show a gain of 55%. Just two days ago on the 18th of March, QTUM was trading at $10.7 to a token and today it at press time was trading at $20.4 to a token.

With a market cap of $1.5 billion it is currently ranked 18th on coinmarketcap and if this growth continues could topple Vechain and Lisk soon.

Many from the community called it another “pump and dump” but with a huge trading volume of $612 million this past 24 hours, analysts say that this could be a combination of the rising interest in QTUM’s project coupled with investors shifting their assets from other cryptos to QTUM for better stability of gain.

QTUM's jump on the 4-hour chart

QTUM’s jump on the 4-hour chart

Qtum is a decentralized blockchain platform which merges the magic of Bitcoin with the endless possibilities of Smart Contracts with a primary focus on providing business-oriented decentralized applications.

Almost 46% of the last 24-hour volume (which is ~300 million dollars) came from South Korean exchanges Bithumb and Upbit. This was followed by Binance at 17% which offers BNB, BTC and ETH pairing for QTUM.

Yesterday’s Sentiment Analysis had revealed a change in emotions and belief in the crypto market. A majority of the respondents believed that yesterday’s gain was symbolic of a possible bull run and today’s day was critical to see if the markets continue in the green.

Patrick Dai, the founder of QTUM had tweeted earlier this month,

“Had few top meetings with regulators in china, we will keep working hard to make Qtum be one of the top blockchain platform in 2018!”

A week ago, QTUM commented on the result of the meeting and how China is now viewing cryptos,

“It was positive. China isn’t anti-crypto, things got out of control last year with thousands of scam ICO’s. They’re trying to find the right balance between regulation, and retaining #blockchain talent. No project ‘partners’ with the gov’t, they’re just monitoring the industry.”

Milton Johnson, a veteran day trader and a cryptocurrency investor says,

“I think in the past 2 hours we have seen a slight pullback in QTUM prices, definitely feels temporary with this sudden burst. Nothing monumental pushing the prices up. Never invest in the top”

Adam Malloy, a Financial Advisor from Chicago says,

“If QTUM with nothing to show for can do this in 48 hours, imagine what Tron, Stellar, Cardano, Ripple and others who have been in the news over the past few months for good reasons can do. Just goes to show how volatile cryptos are. It also shows why there is a big “HODLing” momentum”



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Himanshu Kumar is part of the Editorial Team at AMBCrypto. He dropped his Engineering studies to pursue his passion in the research of Artificial Intelligence and Blockchain. He has an extensive three-year developer and editorial background in the space of cryptocurrencies. He currently does not hold any value or sentiment with any cryptocurrency or its projects.

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