Emercoin Suddenly Moves Up By Half Its Value

Emercoin saw a dramatic rise in its value during the Wednesday trading period. The rise was good for nearly 50 percent of its value, although this could be due to an artificial move to inflate its price for a quick profit for a few investors to use.

Emercoin had been growing in value since the start of April. The currency was at $2.20 but in recent time had been flirting with the $3 mark. But during the first part of the Wednesday trading day, Emercoin suddenly experienced a rise to where it was nearly double its value for a brief moment.

During the early morning hours, Emercoin went from $3 to $6.55 in value.

Some people believed that this might have been some pump and dump endeavor on the currency. The trading volume went from a little more than $600,000 before the increase to $35 million. After that, the volume went to $75 million.

But there is another explanation, which sounds reasonable: on that date the cryptocurrency was listed on UpBit exchange, which is the second in the world by its trading volumes.

Even as the trading volume reached a major peak for the second time, the currency did not drop down in value by too much. The currency moved down to about $4.20 following its rise. The currency had not experienced any sizeable or consistent declines following the initial burst and decline that come with the currency. Therefore, the key question is whether Emercoin will handle its new price level even after this scheme came about to temporarily inflate its value.

This marks the largest trading volume for Emercoin by far, but it is not the first time that the currency experienced some kind of dramatic change in its value. The currency came very close to reaching the $10 in the middle part of January. The currency fell down to $2.50 just a month after that peak. Emercoin had experienced a downward trend, but it appears to be coming up at the end of a downward arc trend.

About Emercoin

The new currency is based on its own Emercoin blockchain. Emercoin features name-value storage to allow users to store data within the blockchain. This is designed with the benefit of distributed services in mind.

The NVS engine used by Emercoin is not a Turing-complete unit. Therefore, it cannot write any code designed to harm a program or influence its operations.

Although Emercoin has been promoted in many situations, it has struggled to maintain a consistent presence in the market. The currency has been subjected to many pump and dump routines in the past. There are also concerns that the Emercoin community is not all that strong.

Even with these points, the market cap for Emercoin continues to hang slightly over the presumed value of the currency itself. Emerson has a market cap of about $175 million. The currency has been hopping on and off of the official listing of the hundred largest cryptocurrencies in the world according to Coin Market Cap, although the market cap has been much larger in the past. The currency had a market cap of nearly half a billion dollars during its biggest peak period in January.