This Cryptocurrency Exploded in Just Two Hours to Gain Meteoric 700%

By CCN.com: One has probably never heard of Japanese Content Token (Ticker: JCT), a crypto-asset issued by a Singapore-based blockchain firm. But that has not deterred the cryptocurrency from jumping more than 700-percent in merely two hours.

The JCT-to-dollar exchange rate was trading close to $0.045 at around 0730 UTC. By the time the clock hit 0930 UTC, the pair had jumped a Mount Everest, establishing its historical high towards $0.362. It noted a small downside correction afterward, dropping 16-percent to indicate that traders were beginning to exit the market on surplus intraday gains.

JCT PRICE, JAPANESE CONTENT TOKEN

JAPANESE CONTENT TOKEN (JCT) PRICE SURGED MORE THAN 700% IN JUST TWO HOURS | SOURCE: Coinmarketcap.com

Based on a 24-hour adjusted timeframe, the JCT surged 651-percent against bitcoin. The same timeframe witnessed JCT appreciating 625-percent against Ethereum, the second largest cryptocurrency by market capitalization. Exchanges trading JCT-enabled pairs posted volumes worth $704,229.

Such a small volume didn’t justify how JCT added $93 million to its total valuation. Besides, one of the exchanges – unregulated – posted more than 41-percent of the overall daily volume for JCT, which raises doubts about potential wash trading and price manipulation.

Fundamentals, if any

JCT didn’t have a history of price explosions. It didn’t even have an essential past at all. The crypto-asset got listed on CoinMarketCap.com on April 2, the day the bitcoin price surged 23-percent to close above a significant resistance level. JCT was trending sideways ever since, existing without much notice to an average crypto trader, especially when the larger capitalization coins were recovering impressively.

Nevertheless, the Japanese Content Token kept adding small recognition to its profile. It got listed on five crypto exchanges to begin its innings as any speculative crypto-asset. And, ahead of the listings, the team behind the Japanese Content Token signed a partnership with public blockchain project TomoChain.

Opportunities

On the whole, the upside opportunities seem to have faded. Traders wondering about entering long positions on intraday highs must do so if they can handle a potential dump. Meanwhile, they must maintain a stop loss position against the direction of their trade. Such a strategy would ensure they exit the JCT market on a minor loss should there be a bias reversal scenario.



This Cryptocurrency Exploded in Just Two Hours to Gain Meteoric 700% 1
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bitcoin
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ethereum
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cardano
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tether
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USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 43,699.00
ethereumEthereum (ETH)
$ 3,078.68
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 544.24
litecoinLitecoin (LTC)
$ 159.91
bitcoinBitcoin (BTC)
37.263,23
ethereumEthereum (ETH)
2.625,27
tetherTether (USDT)
0,852725
bitcoin-cashBitcoin Cash (BCH)
464,09
litecoinLitecoin (LTC)
136,36
bitcoinBitcoin (BTC)
31,919.93
ethereumEthereum (ETH)
2,248.82
tetherTether (USDT)
0.73045
bitcoin-cashBitcoin Cash (BCH)
397.54
litecoinLitecoin (LTC)
116.81

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin43,837 0.61 % 3.42 % 9.03 %
Ethereum3,083.6 0.57 % 6.85 % 14.25 %
Cardano2.250 0.74 % 9.40 % 9.80 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin377.93 0.51 % 6.34 % 12.09 %
XRP1.000 1.08 % 10.86 % 10.19 %
Solana147.62 0.87 % 12.81 % 6.92 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.17 % 0.20 % 0.08 %
Dogecoin0.2246 0.14 % 8.50 % 9.18 %

bitcoin
Bitcoin (BTC) $ 43,699.00
ethereum
Ethereum (ETH) $ 3,078.68
cardano
Cardano (ADA) $ 2.24
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 377.43
xrp
XRP (XRP) $ 0.998397
solana
Solana (SOL) $ 147.66
polkadot
Polkadot (DOT) $ 31.46
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.224663