The price of the altcoin named Bitcoin Dark (BTCD) has recently risen from about $20 to a peak of $100, after which it corrected to $80.
Many people believe that the 277% growth is actually a pump and dump scheme – which concerns many traders at this time. Historically, the altcoin has never seen such massive growth in 24 hours, and the trading volume also surged from the standard $100k-$200k/day to nearly $1 million being traded on the BTCD market yesterday.
Right now, Bitcoin Dark (BTCD) is traded on Poloniex and Trade by Trade only. The BTCD/BTC and BTCD/XMR pairs on Poloniex, however, account for more than 90% of the cryptocurrency’s total trading volume.
Bitcoin Dark is right now somehow unavailable on Poloniex – as the exchange shows users a message that reads that BTCD is “under maintenance and experiencing wallet issues.” The deposits and withdrawals are also disabled while the exchange “works to find, test and audit a solution.”
This is one reason more to believe that BTCD may have risen because of speculations. Meanwhile, the BTCD team moved to the development of another cryptocurrency named Komodo (KMD) – one that is currently trading at $1.61 after rising 16.6% in the last 24 hours.
— BitcoinDark (@BitcoinDark) May 7, 2018
So, the real reason behind the massive surge of BTCD is still unclear – and many social media users pointed out that since the project has been abandoned, a pump and dump scheme is the obvious answer.
So a massive pump in $BTCD is going on but the thing is they swapped to $KMD and bitcoindark is dead no working wallet or blockchain but still listed @Poloniex Thy must be dumping their bags and somebody is going to get burned!
What i ask is where is the $SEC? pic.twitter.com/Z94ibxqXNr
— Thecoin (@blbtheman) September 4, 2018
If such thing has happened, Poloniex may have stopped the perpetrators from getting away with it by freezing the deposits and withdrawals on its platform.
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