Monaco grows +101% amidst Bithumb addition - nothing new in this volatility
Cryptocurrencies often grow in response to the addition on a major exchange, and Monaco’s case is no different - the altcoin has jumped +101% according to financial observers monitoring its price.
This price dynamics is lesser than the monthly jump of Verge Bitnewstoday has already described, but still, on the classic markets, such a rapid motion would occur only under extremely rare conditions.
A contrariwise situation is also possible: when an exchange stops using a particular altcoin, its price may fall dramatically. Recently, Solaris has lost 34% of its price due to the pause of related operations on the popular KuCoin. No scam involved - the altcoin was just being upgraded and the pause was required.
Even Bitcoin’s price can suffer from occasional big sells or dumps: some first-wave millionaire has lately sold the astounding $100M of this cryptocurrency which led to the loss of $200 in 20 minutes. Sometimes these jumps and downfalls do not last long and the coin returns to initial price. Since the news on the dump, Bitcoin has fully regained lost positions. Notably, one of trading experts at the recent blockchain forum in Moscow has noted that fiat traders are moving to the crypto market because they are excited for this volatility they often cannot meet in the usual spheres.
Image courtesy of icelandicinfo.is
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