In the world of cryptocurrencies, there is plenty of excitement where altcoins are concerned as of right now. Once the Bitcoin price starts going in the green, things will undoubtedly improve for alternative currencies as well. In the case of GXChain, the price is heading in the right direction courtesy of some strong gains.
GXChain Price is Going Strong
Whereas most of the top cryptocurrencies have not seen any real gains over the weekend, things are far more exciting outside of the top 50 right now. That is not entirely abnormal, as smaller-cap coins are far easier to manipulate where their individual prices are concerned. GXChain is no exception in this regard, as the altcoin is going through a promising uptrend right now.
Over the past 24 hours, the GXChain price has risen by over 13%. That is a pretty promising sign, especially when considering how all other markets are still in the red or stuck in sideways trading. This is facilitated by a strong 12.5% gain over Bitcoin, which is something all altcoins are trying to achieve at this time.
It would appear there is a lot of excitement regarding this current GXChain uptrend. Although the current has risen strongly yesterday as well, it seems the trend will continue for quite some time to come. As is always the case with extended gains in the altcoin department, there will undoubtedly be a price correction shortly afterward.
Good news, investors! #GXChain $GXS just went up 20.60% in the last 24 hours! That puts the price at $1.61 – Buy 10 stickers for the price of 5! https://t.co/3L77Euzt03 $btc $eth #blockchain #stickers #bitcoin #ethereum
— CryptoStickers (@StuckOnCrypto) October 13, 2018
In more positive news, it appears the GXChain whitepaper has received another update earlier this week. Revisions to a whitepaper do not necessarily attract a lot of attention, yet it confirms the project is far from done. Instead, the developers are still making modifications when they see fit, which will ultimately allow for a more robust blockchain ecosystem.
— GXChain (@gongxinbao) October 10, 2018
Leave it up tot he traders and speculators to create a lot of buzz regarding GXChain’s current price momentum. Tron4Life is keeping a close eye on this market, primarily because the gains are too juicy to pass up on. That is what most people care about when it comes to altcoins, as quick profits can still be made on a regular basis.
— Tron4Life $TRX (@Kev_TRX_4_Life) October 13, 2018
One reason for concern is how GXS does not have a lot of trading volume Although nearly $10m is more than most altcoins can produce right now, the vast majority originates from Binance and Huobi. As such, this is clearly a price manipulation effort, as there is nothing to effectively generate real excitement for this project just yet.