QTUM climbs 189% in under 8 hours

QTUM is the latest crypto currency to make the headlines. Registering significant gains in past few days, it is now #14 crypto currency in the world with a market capitalization of $5.1 billion.

With Bitcoin at a striking distance of $20,000 mark, all eyes are on the cryptocurrency. However, QTUM too grabbed the attention of the industry insiders as it surged to double its gains on Sunday.

On the morning of December 17, QTUM was trading at $29.67. At 9:14 pm on the evening of the same day, the value of QTUM touched $56.06, an increase of a significant 189 percent. Carrying on the rally, QTUM is going strong with the value of $69.94 at the moment, as per the coinmarketcap.com website. In the past 24 hours alone, QTUM’s price has appreciated by 102.10 percent.

The Singapore-based blockchain company, whose protocol imbibes the capacity of Ethereum to execute smart contracts, was nowhere in the picture by the end of last week. The crypto currency has been built upon Bitcoin’s established UTXO transaction model and exercises a proof-of-stake accord mechanism. It is known to be a more realistic for business adoption.

Qtum strives to establish services capabilities that bridge the gap between blockchain networks and businesses. Similar to Ethereum’s broad decentralized app (dapp) ecosystem, Qtum’s ecosystem is intended to promote effective and lightweight business applications which can seamlessly integrate with most blockchains.

Earlier, similar significant gains have been seen in Ripple, Cardano, Litecoin, TRON, Stellar and Bitcoin Cash. Industry experts suggest that the investors on the look out of Bitcoin have fuelled the demand for other crypto currencies.

After the launch of Bitcoin futures at the Cboe and CME exchanges, the Bitcoin is nearing the milestone $20K. The largest crypto currency contributes over 50 percent to the $634 billion crypto market. Bitcoin is currently trading at $18,967.60 as per the information on the coinmarketcap.com website.

Recent Posts

Professional investors skeptical about Bitcoin, a recent Bank of America survey says

Bank of America recently asked 200 professional investors with $533 billion in assets under management for their opinions on Bitcoin.…

17 hours ago

AXA Switzerland now offers Bitcoin as a payment method

Insurance provider AXA Switzerland announced that its Switzerland customers will now be able to pay their bills in Bitcoin (BTC).…

18 hours ago

DOGE “to the moon” as Robinhood faces more scrutiny

After yet another phenomenal rally surging 114% in the last 24 hours, Dogecoin (DOGE) hit an all-time high of $0.29.…

18 hours ago

“Bitcoin’s peak volatility is right on track to drop below fiat volatility”

There will come a time that Bitcoin will be less volatile than fiat money as money is being redefined. And…

2 days ago

GoldMan Sachs watching Bitcoin’s every move

Goldman Sachs is keeping a close eye on Bitcoin. In an earnings call on Tuesday, the bank’s Chief Executive Officer,…

2 days ago

Coinbase’s COIN is Live on Nasdaq, while Bitcoin and Ethereum jumped to new all-time highs

After months of intense build-up towards their big day, Coinbase finally listed on the Nasdaq with ticker COIN. And the…

2 days ago