The Rise of Metacoin
On January 18, Metacoin (MTC) experienced an astonishing jump of 486% in just 24 hours, leaving investors speechless and probably wondering if they should check their fortune cookies.
Bittrex Global’s Big Announcement
The spark that ignited this crypto explosion came from the Bittrex Global cryptocurrency exchange. On January 15, a mere three days prior, they announced the opening of Metacoin wallets for deposits, tantalizingly teasing that trading against Bitcoin (BTC) would soon commence. It was like a countdown to New Year’s, but without the confetti.
Metacoin’s Unique Identity
Metacoin is not just dancing on the financial stage without a costume. It is built on Hyperledger, an open-source project aimed at building permissioned blockchain ecosystems for big boys and girls in the business world. With its launch in 2018, Metacoin became the first cryptocurrency of Hyperledger to achieve mainnet status. Can I get a high five?
Hyperledger’s Notable Backers
Hyperledger boasts some heavyweight champions in the tech and finance sectors: IBM, J.P. Morgan, Fujitsu, and Hitachi, just to name a few. Together, they make Hyperledger a titan in the world of blockchain technologies, and being associated with these giants can only bode well for Metacoin.
Trading Frenzy and Volume Records
In a jaw-dropping trading frenzy, Metacoin reached an all-time high trade volume of $482,000 on that eventful day. That’s not chump change! It narrowly surpassed the previous record of $444,000 set in August 2020 during the coin’s early days. Still, here’s a plot twist: despite the hype and the soaring price, there was no trading data for Metacoin available on the Bittrex site, and the BTC/MTC pair remained “offline” as if it were off on a beach vacation.
DApps and Beyond
Metacoin is not merely a pretty face in the crypto-verse; it’s designed to be a multifunctional blockchain platform. Businesses can issue tokens on-chain, and it also supports DApps like ColdBank—a crypto custody service leveraging IBM’s LinuxONE tech. If you’re a fan of blockchain gaming, there are apps for that too. Metacoin is like the Swiss Army knife of cryptocurrency. Watch out, because it’s just getting started!
