Now that we can leave the Christmas holidays behind us, and have a couple of normal days until New Year’s Eve is upon us, it is time for some more altcoin news. Kingdomcoin’s Proof-of-Work phase has come to an end, and we have received an update in regards to a KING multipool. Let’s go!
As we mentioned in previous Kingdomcoin articles, there would be a relatively short KING mining phase after the ICO ended. Nothing unexpected here, as pretty much all of the miners dumped their KING at any price in order to recover costs for their hashpower. However, prices are not as low as you might expect at this point.
Do keep in mind there is a massive spread on the Kingdomcoin trading market over at C-Cex. The lowest sell orders are in the 2,300 Satoshi range, whereas the highest buy order is in the 1,550 Satoshi range. As soon as the gap closes a bit, we might see a slow return to the ICO value of 7,500 Satoshi per KING;
In order to create some buy pressure on the C-Cex exchange, there will be a Kingdomcoin multipool in the next 24-48 hours. It was originally announced we would see a KING multipool very shortly after the Proof-of-Work phase had ended, and the developer looks to be delivering as promised.
By opening up a Kingdomcoin multipool, users can mine other altcoins, which are then converted into Bitcoin by the multipool itself. These Bitcoin amounts will be used to purchase KING from the available exchanges, and as a result, we could see prices going up slowly: