Bitcoin Diamond [BCD] sparkles with a massive 346% rise in an almost bearish market
Bitcoin Diamond [BCD] shows a huge leap of 346% in the last 24 hours amidst a bearish market trend of the major cryptocurrencies. On considering the top fifty cryptocurrencies in the coinmarketcap list, except this particular crypto coin and Tether [USDT], others have experienced a downfall. The primary purpose for the creation of Bitcoin Diamond [BCD] is increasing block size limit Bitcoin [BTC] to a mark of 8MB.
The Reason behind the Rise
On 5th September, 2018 this massive jump of Bitcoin Gold [BCD] has garnered attention all crypto enthusiasts and investors. The fundamental reason that has paved the way for this rise is the declaration of Binance allowing the deposit and withdrawal of this cryptocurrency. Binance is one of the most popular and fastest growing digital exchanges. On the prominent social media platform, Twitter, Binance made an announcement about the digital currency's deposit and withdrawal from 10 am [UTC].
It is from this point of time that the price has experienced a positive change. The coinmarketcap graph suggests that at 12:04 pm [UTC], the valuation of Bitcoin Diamond has been 1.34 USD with a market cap of 205,643,670 USD. However, around 12:14 pm [UTC] the change became visible with price rise that reached 2.34 USD.
At 16:24 pm [UTC], the price of Bitcoin Diamond [BCD] reached its pinnacle at 4.64 USD witnessing a significant 346% upsurge. The market cap of this cryptocurrency at this time is 713,727,113 USD. However, from then onward the price has seen a dip. The latest record shows that at 17:49 pm [UTC], the price dropped to 3.13 USD with a market cap marked at 481,286,694 USD.
However, at the time of writing, the change, even if it has fallen from the peak of 346%, is hovering around 123.02% with a drop in position. Currently, Bitcoin Diamond [BCD] is holding 24th position in the cryptocurrency ranking. In just 24 hours duration the announcement of Binance exchange could show such positive behaviour in Bitcoin Diamond [BCD] in the crypto market.
Image via Shutterstock
Join our Telegram group