Here’s Why Crypto Maximine Coin (MXM) Jumped 754.5% in March

Maximine Coin’s MXM token is one of the leading performers in the crypto land for March.

The MXM-to-dollar rate today surged to 0.094, up 754.5-percent since the month’s open, in an aggressive upside swing. In the past 24 hours itself, the pair posted maximum gains, rising 30-percent on an adjusted timeframe. Simultaneously, MXM performed reasonably well against top crypto assets; it jumped 30.77-percent against bitcoin and 31.47-percent against ether.

MXM PRICE, MAXIMINE COIN PRICE, MXM USD

MAXIMINE COIN (MXM) SURGES MORE THAN 750% IN MARCH | SOURCE: COINMARKETCAP.COM

The MXM’s market capitalization jumped approx $134 million between March 1 and today. Given the coin was and continues to be available on only a handful of crypto exchanges, the surge came a surprise. On a 24-hour adjusted timeframe, MXM noted $17.7 million worth of trading volume across CoinBene, HitBTC, and Livecoin, against Tether’s stablecoin USDT (over 86-percent), Ethereum’s ether (over 12.5-percent), and Bitcoin’s bitcoin (over 0.31-percent).

CoinBene handled 99-percent of the reported daily volume on Monday, which looks shady on the crust. Bitwise Asset Management, a San Francisco based firm, mentioned CoinBene as one of the leading wash trading crypto exchanges in its latest report (read our CCN report here for more information). The crypto trading platform is registered in Singapore just like Maximine Coin, which also runs its operations from the island city-state.

Who’s Buying MXM Coin?

Clear fundamentals for MXM were difficult to locate. On grounds, Maximine Coin remains a cloud-based mining pool service, which requires users to stake MXM coins for hashing power, which it calls The Hashing Power Credit System. Since its launch in August 2018, the MXM-to-dollar rate remained quite mum, seeing no high trading activities, only to rise abruptly in a February 2019 rally, which rippled through March.

With CoinBene hosting a crazy 99% of the overall MXM trades, there is a considerable possibility that only a few players participated in the ongoing rally. CCN checked Maximine Coin’s official Twitter handle, and most of the company’s tweets were self-patting: for media mentions and price surges. On the development front, Maximine Coin had only one activity in its GitHub repository, the one about its smart contract submitted in April last year.

Perhaps the only relevant fundamental we could find was BitForex. The Singapore-based cryptocurrency exchange announced Friday that it was going to list MXM pairs on its platform from March 26. At least that explains why investors found profitable intraday opportunities in MXM for today only. Rest assured, BitForex website does not tell anything about its founders and looks like another random addition to a mostly unregulated cryptocurrency sector.

Conclusion

On the whole, the MXM rally is shady yet attractive. Nevertheless, going large on its higher-high formations looks very risky at this time. Traders’ discretion is advised.

Here’s Why Crypto Maximine Coin (MXM) Jumped 754.5% in March 1
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,024.00
ethereum
Ethereum (ETH) $ 2,853.58
cardano
Cardano (ADA) $ 2.22
tether
Tether (USDT) $ 0.999095
binance-coin
Binance Coin (BNB) $ 338.67
xrp
XRP (XRP) $ 0.916827
solana
Solana (SOL) $ 129.01
usd-coin
USD Coin (USDC) $ 0.99917
polkadot
Polkadot (DOT) $ 28.44
dogecoin
Dogecoin (DOGE) $ 0.203685
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,024.00
ethereumEthereum (ETH)
$ 2,853.58
tetherTether (USDT)
$ 0.999095
bitcoin-cashBitcoin Cash (BCH)
$ 502.59
litecoinLitecoin (LTC)
$ 146.72
bitcoinBitcoin (BTC)
35.803,19
ethereumEthereum (ETH)
2.431,16
tetherTether (USDT)
0,851199
bitcoin-cashBitcoin Cash (BCH)
428,19
litecoinLitecoin (LTC)
125,00
bitcoinBitcoin (BTC)
30,664.28
ethereumEthereum (ETH)
2,082.21
tetherTether (USDT)
0.729025
bitcoin-cashBitcoin Cash (BCH)
366.73
litecoinLitecoin (LTC)
107.06

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,234 0.18 % 0.69 % 12.50 %
Ethereum2,872.7 0.12 % 1.38 % 16.19 %
Cardano2.250 0.13 % 1.68 % 5.24 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin340.95 0.71 % 4.02 % 17.14 %
XRP0.9236 0.36 % 2.19 % 14.15 %
Solana131.05 0.39 % 5.95 % 22.96 %
USD Coin1.000 0.15 % 0.00 % 0.19 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2053 0.60 % 2.81 % 15.14 %

bitcoin
Bitcoin (BTC) $ 42,024.00
ethereum
Ethereum (ETH) $ 2,853.58
cardano
Cardano (ADA) $ 2.22
tether
Tether (USDT) $ 0.999095
binance-coin
Binance Coin (BNB) $ 338.67
xrp
XRP (XRP) $ 0.916827
solana
Solana (SOL) $ 129.01
usd-coin
USD Coin (USDC) $ 0.99917
polkadot
Polkadot (DOT) $ 28.44
dogecoin
Dogecoin (DOGE) $ 0.203685