Bitcoin Diamond is up over 100% in the past week.

Though, there is likely a major caveat to this price action.

First lets look at the action from the past 7 days on coinmarketcap:

As you can see, two separate spikes of over 100% in the past couple days.

The first of which came right back down.

However, it may not be quite what it seems...

There is some major price discrepancy between different exchanges regarding bitcoin diamond.

Check out the markets on coinmarketcap:

Binance and Huobi are showing significantly higher prices than every other exchange.

In fact, Binance is such an outlier that it isn't even being included in the current price.

(Notice the * at the bottom of the image)

This is often seen when wallets are disabled.

I have not currently checked to see if bitcoin diamond wallets are working properly or not at Binance and Huobi but from what I am seeing online, there is a good chance they are not....

A user on reddit says:

“SCAM pump n dump. Conveniently locked up coins on other exchanges as to keep buyers from getting in.”

(Source: https://ambcrypto.com/bitcoin-diamond-bcd-spikes-by-more-than-102-past-7-days/)

Again I have not verified whether the wallets are disabled or not, but this user seems to imply that they are.

Here is what the price jumps to from time to time when the Binance price gets included:

This is the kind of activity that makes people not trust the crypto markets.

If the exchange holds these coins, then runs the prices up knowing that no one can either deposit or withdrawal to affect the supply, they can then slowly sell off their stake at inflated prices and move into other coins.

While forcing other users who want to participate to pay the inflated prices.

We have seen this with Steem several times as well.

In fact, as I type, Steem is trading for over $3 on Bithumb while there are no deposits or withdrawals available.

Things that make you go hmm...

Stay informed my friends.

Follow me: @jrcornel