It is evident this current overarching crypto market momentum is not necessarily all that promising. Most of the bearish pressure has been averted, yet the current gains are fragile in nature. One notable exception comes in the form of the Qtum price, which is seemingly surging. Its overall trading volume of over $1.9bn makes zero sense to most traders, though, which could prove to be interesting to keep an eye on.
In the cryptocurrency world, it is not uncommon to see altcoins go through a hearty pump-and-dump cycle. Some traders refer to these trends as “altcoin season”, although most users know better than that. In the case of Qtum, it seems there is a plain pump going on right now, primarily made possible thanks to a ludicrous amount of trading volume.
Over the past 24 hours, there has been a 16% Qtum price increase. This trend is visible across both the USD and BTC markets, which paints a rather interesting picture. Because of this most recent and unexpected gain, one QTUM is now valued at $2.71, or 69,048 Satoshi. A very intriguing trend, especially at this time in history. Sustaining it will be rather complicated.
On social media, there isn’t anything spectacular to talk about when it comes to Qtum. A new potential partnership with Zeux could lead to some interesting mobile payment development. However, it is also worth noting Qtum is available for trading on OnePageX, a crypto exchange very few people seem to be using today. It may note a slightly higher trading volume today, assuming this pump will continue for a little while longer.
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