A very peculiar trend has begun forming in the cryptocurrency industry. Although most people tend to forget Ssycoin is still a budding project, the currency’s price is making some spectacular moves as of right now. It also re-entered the market cap top 100 for the first time in a while, which further shows interest in this particular altcoin is effectively on the rise.
Syscoin Price Increase is Rather Surprising
In the altcoin world, there are thousands of projects to keep tabs on at any given time, Over 90% of these projects will never amount to much, whereas the remaining 10% can be divided into two main camps. There are those who rise to the top instantly, and those who are often overlooked. Syscoin clearly falls into the latter category right now, although that may not necessarily remain the case for much longer.
Over the past 24 hours, there has been a more than impressive Syscoin price increase. The 17% gain in USD value alone is very peculiar, but there is also a 17.5% gain in Bitcoin value. That makes it a very active market, despite having just $4.4m in 24-hour trading volume. Even so, this is a remarkable turnaround for a currency most people tend to overlook.
It would seem Syscoin has achieved a listing on the Binance exchange not that long ago. Although this platform supports hundreds of currencies, the addition of Syscoin will undoubtedly take many people by surprise. As such, the sudden increase in value is anything but surprising, although it remains to be seen if the trend remains in place.
— RIBKA ♠️♥️♣️♦️ (@RIBKA04150790) December 15, 2018
As Zak Cole points out, Syscoin has finally made it into the crypto market cap top 100. Although it claimed the 99th position a few hours ago, that number will continue to fluctuate a bit over the weekend. Whether or not it will remain in the top 100 for more than a few hours on end, is another matter that shouldn’t be ignored.
— Zak Cole (@0xzak) December 15, 2018
When looking at the current Syscoin price chart, no one will deny the bullish momentum is firmly in place. The current push has driven the value to just over 1,450 Satoshi. If Momacino is to be believed, this push will continue to $1,600 in the coming hours and days. An interesting target, albeit one that may prove difficult to hit.
— Mombacino (@Crypto_Delisi) December 15, 2018
This Syscoin price development is both intriguing and very surprising at the same time. Coinmarketcap also informs users YoBit is trading an old chain of SYS, which may shake things up quite a bit over the coming hours. Despite this potential setback, the altcoin is still in a relatively good place right now. Sustaining the push will be extremely difficult under these circumstances, though.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.