9 June 2017 | Ashford, England : A relatively new cryptocurrency, BitConnect Coin (BCC) introduced earlier this year has registered record growth. The cryptocurrency’s price, resonating with the market trend partially fueled by Bitcoin’s bull run and increased adoption has risen by over 500 percent in a month’s time.
BitConnect Coin, trading at around $8 at the beginning of May 2017 has exhibited a phenomenal growth by crossing the $40 mark by the first week of June. The increase in BCC’s price has proven the cryptocurrency’s potential as an alternative to many other cryptocurrencies currently available in the market. The recent price surge puts the growth of BitConnect Coin at upwards of 8000 percent since its ICO back in November 2016. The cryptocurrency currently has a total market capitalization of over $265 million as it steadily climbs the ranks of various altcoins.
BitConnect Coin’s price surge is just the beginning. With a finite supply of 28 million coins, the cryptocurrency’s is expected to improve further with time, making it an ideal asset for investors. The mining community has also taken a particular interest in BitConnect Coin, indicated by a significant increase in the network’s hashing power. The steady increase in mining power due to a rise in the number of miners opting to mine BitConnect Coin over other cryptocurrencies has led to a drastic increase in the mining difficulty.
On many occasions, the BCC network, commanding a hash rate of over 1500 gH/s has witnessed the mining difficulty increase beyond 70,000. The all-time average of BCC network’s mining difficulty shows a steady increase, which will continue with time. The increasing difficulty level of BCC comes as good news for the community as it signifies improved stability and security of the cryptocurrency network.
The BCC network is designed in such a way that the mining process will stop yielding new coins by the end of this year. By limiting the generation of new tokens through mining early on, BitConnect will prevent prolonged dilution of the cryptocurrency’s value, which in the presence of increasing demand will grow in value.
Those interested in making the most out of the growing cryptocurrency market should definitely consider investing in BitConnect Coin as it shows all the indicators of sustained appreciation over an extended period of time.
About BitConnect Coin
BitConnect Coin is an open source, peer-to-peer, community driven decentralized cryptocurrency that allows people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on the investment.
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.