Bitcoin Diamond, a “small” fork of Bitcoin (BTC) has achieved an incredible milestone by becoming the only currency in the top 100 of the global marketcap to produce a bullish streak in the last 24 hours (with the exception of stablecoins TUSD and USDT).
This situation would not be so surprising were it not for the fact that the profit percentage of the crypto exceeded 200% in a period of less than 24 hours before suffering a decline that led the currency to have an average increase of “just” a little more than 100%.
Such an increase in the price comes after the news that Binance, the most important exchange in the world by trading volume decided to open deposits and withdrawals of the token within its platform, enabling its trading right away.
#Binance Opens Deposits and Withdrawals for Bitcoin Diamond (BCD)https://t.co/intK0QM7YR pic.twitter.com/RF4b0Gb1AB
– Binance (@binance) September 5, 2018
It is also interesting to note that this situation has led many to think that it could actually be treated as an unethical form of trading like a Pump and Dump.
Interestingly enough, this controversial cryptocurrency had been characterized for being subject to market manipulation in prevous ocasions.
The Bitcoin Diamond team was thrilled at the news, a sentiment that they were able to demonstrate in social networks, especially in Twitter where they invited to follow Binance trading stats, and boasted about beating the global bearish trend:
Check $BCD real time price at https://t.co/BVenrBJJ20@BitcoinDiamond_ pic.twitter.com/paHPkRvyZh
– Binance Info (@Binance_Info) September 5, 2018
When the market is going down, you know who to trust to go against the bears. Bitcoin Diamond! #BullishDivergence #SlingShot #tothemoon #stayawhile $bcd #btc $btc pic.twitter.com/jE1i7ibfme
– Bitcoin Diamond[BCD]⚡️ (@BitcoinDiamond_) September 6, 2018
It is important to note that because of security reasons in face of a possible Pump and Dump scheme, Coinmarketcap, one of the most important reference websites used for monitoring cryptocurrencies decided to pause the tracking of Bitcoin Diamond prices in Binance temporarily, however it is expected that the situation will not take long, and the token can be successfully traded and tracked.
Bitcoin Diamond: Actively Working on a Better Community
Although this Bitcoin fork has few followers, the development of this blockchain remains quite active. At the end of last month, the BCD development team announced the launch of BCD Bazaar, an e-commerce website aimed at promoting Bitcoin Diamond (BCD) with the ease of having thousands of products available for purchase through cryptocurrencies.
Introducing brand new BCD Bazaar！????
The world’s first online e-commerce store that exclusively accepts cryptocurrency.
The world’s most sophisticated e-commerce solution partners with the world’s most accessible and usable cryptocurrency.https://t.co/frmApsylfl
– Bitcoin Diamond[BCD]⚡️ (@BitcoinDiamond_) August 21, 2018
In spite of a possible artificial pump of prices, the feeling of the markets has not decreased until previous points, remaining stable in the band of 3$ per token with a steady volume and without technical indicators that prevent a near fall of the prices.