While this article is about Blackcoin and it’s trading volume on BTC38 in the BC/CNY market, this is not an actual trading analysis article. There are some interesting things going on at BTC38 by the look of it, which make it worth to look at it from a “news” perspective. Let’s take a look then, shall we?
One of the more interesting facts about altcoin trading is finding a way to make profit from day trading without possessions extensive knowledge. For example, when there is a price gap between multiple exchanges listing the same coin, which in this case would be Blackcoin.
Earlier this morning, I had received several reports mentioning the Blackcoin price on BTC38 was substantially higher compared to other exchanges such as Cryptsy and BTER. After doing some investigation, it turned out there was a huge price increase on BTC38 (roughly 40%), whereas other exchanges were showing a 20-25% price increase.
My initial thought was that it was just a pump on the BTC38 exchange, which would only last for a few minutes to an hour tops. However, the more I looked at the charts in the BC/CNY market, the more it started to look like a genuine price increase.
As I am writing this, price have come down a little bit once again, but they are still slightly higher in value compared to other exchanges. I will definitely keep an eye on the progression, and do a full analysis tomorrow. But for now, BTC38 users seem to show a lot of interest where Blackcoin is concerned.
Some quick statistics (BC/CNY) over the past 24 hours :
1,838,317 CNY in 24-hour volume
10,765,600 BC in 24-hour volume
+52.8% price change in the past 24 hours
Comparing these statistics to the BC/BTC market over the past 24 hours :
1,782 BTC in 24-hour volume
20,505 BC in 24-hour volume
-15.9% price change in the past 24 hours.