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    Home » Crypto News » Bitcoin 2 Pumps Over 5,000% Gaining Top 25 Market Cap Spot

    Bitcoin 2 Pumps Over 5,000% Gaining Top 25 Market Cap Spot

    Author: Benjamin Pirus

    Last Updated Nov 26, 2019 @ 12:27

    A random asset flew up the charts today, gaining more than 5,000% in value over a 24-hour period, seemingly as the subject of a pump and dump effort.

    Bitcoin 2 (BTC2) tore its way into the top 25 crypto assets by market cap on June 6, hitting a peak of $29.27 per coin, according to CoinMarketCap data.

    Wether it’s a sad joke, an ordinary pump and dump, but the fact is that a random coin registered easily as “Bitcoin 2” and sneaked so quickly to the top 25 coins by market cap.

    Image Courtesy: CoinMarketCap.com

    On June 5, the asset saw prices around $0.50. One day later, the coin took off into the stratosphere in a fashion similar to certain microcaps in 2017.

    Image Courtesy: CoinMarketCap.com

    Priced at $24.50 at the start of this article’s writing, the coin touted a market cap of $423,545,927, with only $126,947 in volume over the past 24 hours. 

    Upon second inspection during the writing of this article, the asset already has dropped back down to around $6.55, descending to the 63rd spot among the top market cap assets on CoinMarketCap, holding a market cap of $113,305,462 at press time.

    Image Courtesy: CoinMarketCap.com

    The asset is only listed on two exchanges – Crex24 and Escodex. Both exchanges have Bitcoin 2 (BTC2) paired against Bitcoin (BTC). Crex24 looks to have hosted most of the asset’s trading activity during the pump, according to CoinMarketCap numbers.

    BTC2 also shows a comparable number of coins to that of BTC in terms of circulating supply. BTC2 appears to have a circulating supply of 17,288,579, while BTC houses 17,744,575 coins in circulation. 

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    Tags: Bitcoin
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    About The Author

    Benjamin BJ Pirus
    More posts by this author

    BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written countless professional articles for numerous news sites such as Forbes, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally. Contact Ben: LinkedIn

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