[2017-05-19]Bytecoin: The Original Anonymous Cryptocurrency Jumps 250% in Comeba

[peter0425]

Bytecoin: The Original Anonymous Cryptocurrency Jumps 250% in Comeback

Bytecoin, the original anonymous cryptocurrency which successfully implemented Bitcoin Core developer Greg Maxwell-endorsed Cryptonote, the technology used by leading anonymous cryptocurrency Monero, has made a strong comeback with a 250% percent increase in its price.

In merely three days, Bytecoin experienced a 5x increase in its market cap, increasing from around $80 million to $400 million. Such abrupt growth in market cap and value isn’t organic and the inconsistency of Bytecoin’s growth is evident in its trading volume. For years, Bytecoin hasn’t seen much trading across exchanges and trading platforms. By May, Bytecoin daily trading volume increased from $340,000 to a staggering $48 million.

https://www.cryptocoinsnews.com/bytecoin-original-anonymous-cryptocurrency-jumps-250-comeback/

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[Kemarit]

The author of the article just admitted that Bytecoin is just a pump and dump coin. Even though that he calls Bytecoin as the original anonymous cryptocurrency, and Monero just a fork from it, it doesn't have the support of the crypto community as evident by the trading volumes prior to the pump. And at the end of the article, he says that

"However, the market cap of Bytecoin is already starting to decline and after reaching it peak earlier today, it has fallen by over 100 percent."

I just LOL This statement really shows that indeed this coin is playground for pump and dump groups to play around. Unfortunately, nothing is special about this coin sorry to tell.