Yeah, it's a pretty big increase from just a few days/weeks ago:
Lots of volume too. Could it be a single person buying all the XPM? I sure wish I didn't sell the few XPM I had in the beginning of the year now.
Primecoin has always taken a back seat to Peercoin as being Sunny King's "other" altcoin. At $10 million, PPC still has a much larger market cap than XPM but it seems that the price of PPC has only slightly moved upwards while XPM's price increased by x10:
According to a source called Inside Bitcoins, it could just be another pump and dump like the one we saw with Vertcoin a while back or it could be a sign of something very exciting to come:
With the two leading markets for Primecoin both being Chinese-based, paired with the fact there was such explosive growth in both price and volume over the last 7 days, market manipulation based on insider information is a strong contender for why Primecoin is moving the way it is.
With the latest submission on Primecoin’s subreddit being a month old, and with its Twitter lacking substantial news updates, it seems that buyers are accumulating Primecoin for something big in the next couple of weeks, or are just looking to make a quick buck from the standard pump and dump scheme.
Link:
http://insidebitcoins.com/news/bitcoin-market-wrap-up-67-614-btc-reverses-trend-vtc-goes-down-xpm-in-its-prime/33156Riecoin is another coin that is similar to Primecoin in that it uses a mining algorithm based on prime numbers although it's not directly based on XPM. Looking at the charts on CMC, it also seems to be following the same pattern as XPM:
No idea. Datacoin next.
Funny that you mention Datacoin, since it's actually one of the few rare coins that are based on Primecoin. DTC happens to be one of my favorite "dead" coins as well. It had a very innovative idea but it could have been implemented better and it's quite unfortunate that the dev abandoned the project early on. I still have a few DTC on Bter but unless the coin gets pumped, I doubt they'll ever be worth much.
