Your first question is probably; What is Bitcoin Plus?
Bitcoin Plus (XBC) is an alternative cryptocurrency that uses the Tor Network for IP address privacy. It uses Hybrid Proof of Stake and Proof of Work. The current circulating supply is 94,591 XBC. According to its site bitcoinplus.org, the coin has a fixed inflation of 20% per year and has a total maximum coin count of 1 Million.
Bitcoin Plus launched in 2014 on Poloniex and since that time has remained nearly flat for most of its life cycle. But today, it broke from its sub $5.00 price tag and rose to over $130, before dropping back below $50. Once the drop occurred, the coin then bounced back up to over $80 and for a second time drifted back down to the sub $50 level. But it did not stop there. It once again, shot back to above $80, and since has been floating in the $60 range; all in a matter of hours.
XBC which usually sees very little volume, started to rise a bit the last couple days, but absolutely skyrocketed to over $14,000,000 USD of volume in the past 24 hours.
At the time of this writing, XBC is currently trading on Poloniex at over 0.05 BTC; a far journey from its previous day price of just 0.004 BTC, for an over 1000% increase. At its highest top today, XBC reached 0.130 BTC which was an extraordinary 3000% increase at its peak over its previous day’s price.
What on Earth could have made XBC see such a huge interest from the files of forgotten cryptocurrency? Is there a new release that has created all the buzz? Some new investors in the crypto market? Or could this be a response to the current Bitcoin debate over network scaling? More to come.
Loki Sullivan
Bitcoin Philosopher