Binance confirms that it’s finally listing Bitcoin Diamond (BCD), and the price of the cryptocurrency quickly rockets…
The price of Bitcoin Diamond started suddenly spiking at just past 7am this morning, countering a day of declines for the broader crypto market. And a listing on a major crypto exchange was the obvious underlying reason for the sudden interest in the currency.
In fact, at one stage this morning (UK times quoted) the price of Bitcoin Diamond (BCD) – a hard fork of Bitcoin – had shot up by just shy of 200%. That happened in the first hour after Binance confirmed that it was opening deposits and withdrawals for the currency. Here’s the announcement Tweet. It was published around half an hour after the price of BCD started to suddenly increase (trading had been at constant levels for the 24 hours before that).
— Binance (@binance) September 5, 2018
The impact of that announcement was clear, and the price of BCD eventually peaked at $5.25, a sizeable leap from its overnight rate of $1.38.
At the time of this post being written, it’s settled down to just below $3, but is still registering an increase over 24 hours of some 127%. Volume spiked just before 8am as well, but trading has remained busy all day.
For comparison, in the same period, the price of Bitcoin has fallen by more than 4% in a matter of hours. The rest of the top coins are coloured red across the board, with few exceptions.