Bitcoin Gold skyrockets

Bitcoin Gold was finally listed on CoinmarketCap and already went ahead of most major cryptocurrencies with its price and capitalisation growing up
26 November 2017   931

Bitcoin Gold is a cryptocurrency which forked from Bitcoin on October 25 and it is rapidly gaining top positions being ahead of major altcoins such as Dash, Litecoin, NEO, Monero and IOTA. The coin rose by hundreds of dollars in price since its listing and currently takes 5th place in the list of coins ranked by market capitalisation.

Coinmarketcap list top coinsList of top coins ranged by market capitalisation

Bitcoin Gold rose by 148% within past 7 days and one of the main reasons behind Bitcoin Gold price increase might be the announcement that cryptocurrency exchanges Bithumb and Bitfinex have both added BTG trading pairs to their platforms.

Bitfinex added BTG/BTC and BTG/USD, while Bithumb added BTG/KRW trading pairs. Bitcoin Gold has already been traded on biggest exchanges like Bittrex, HitBTC, and Binance.

Bitcoin gold charts november 2017Bitcoin Gold Charts

At the moment of press, these are main market parameters of Bitcoin Gold:

  • Average price: $343.27
  • Marketcap: $5,723,428,863
  • 24h volume: $167,728,000

664k BTG Split & Moved For a First Time

This event can have huge impact on the Bitcoin Gold price
22 February 2018   62

On February 20, an unknown user released 664,000 BTG coins that had been lying motionless since the launch of the Bitcoin Gold network last fall. This could lead to the largest one-stage increase in the BTG market for the whole short history of the existence of the "new digital gold". This is reported by CCN.

Bitcoin Gold crypto currency was formed as a result of the harsh press, held on October 24 last year. The network wasn't launched immediately, but several weeks after the completion of the premiere.

The holders of bitcoin have the opportunity to obtain an equivalent number of BTG coins. Many hastened to take the necessary action to obtain new coins in the first weeks. However, in all likelihood, not all holders of large amounts in the crypto currency have done this.

Below is a graph that illustrates the dynamics of obtaining BTG coins by bitcoin holders (forks. network):

Amount of coins moved on each side
Amount of coins moved on each side

One of the engineers of the Blockchain, who created the forks.network, connects this transaction to the bitcoin-service Xapo. In his opinion, the action was committed on the initiative of one of the institutional clients of the popular service.

It remains a mystery why this unknown cryptoinvestor did not extract the BTG coins before and did not sell them when the Bitcoin Gold market rate reached a mark above $ 400. Currently, the weighted average rate of BTG is around $ 125.

Bitcoin Gold crypto currency can not now be called a highly liquid altcoyin. According to the volume of market capitalization, the coin is on the 20th place of the Coinmarketcap rating, and the daily trading volume of BTG hardly exceeds $ 40 million.

The current value of the above 664,000 coins is $ 82.7 million. Thus, the sudden release of Bitcoin Gold coins to the market is unlikely to have a positive effect on the course of this relatively young crypto currency.