It's a pump and dump. A month and a half ago the pump of the month was Mintcoin and Vertcoin.
There's nothing special about Blackcoin at all and here are the reasons
- Faster Transaction speeds ~ a lot of alternate coins can claim this too
- Proof of Stake. Old mechanism ~ Peercoin, NxT and other coins have had this for ages
- Bitclone (the client is a reskin of BTC)
- Distribution. Top 100 wallets own the majority of Blackcoin.
- Novelty merchandise
I know the Bagholders and Whales will say I am a naysayer but there's absolutely nothing here to push Blackcoin into the $100+ million capitalization and let alone to keep it there.
Litecoin was a fluke, in part due to the dumb funds who missed out on BTC and threw money on LTC, and it's not likely to be repeated since those funds have since learned their lesson and realize they sit on worthless LTC coins.
I think it will reach its peak this weekend and crash slowly in 2-3 weeks after that, but it will still be over 3mil in marketcap.