BitConnect Coin Outdoes Ethereum's Performance for 6 Months That Followed the ICO

BitConnect Coin Outdoes Ethereum's Performance for 6 Months That Followed the ICO
16.06.2017 07:15 am

BitConnect Coin Outdoes Ethereum's Performance for 6 Months That Followed the ICO

Bitcoins , Cryptocurrencies

The emerging cryptocurrency created by UK based BitConnect, BitConnect Coin (BCC) has registered a phenomenal growth since its inception six months ago by outperforming the growth of the world's top altcoin, Ethereum. The new cryptocurrency has witnessed its value increase dramatically since its November 2016 ICO. From the initial market value of $1.84, BCC has reached a price point of over $52.65 by June 10, 2017.

Ethereum, after its launch on August 10, 2015, commanded a value of $1.71. Six months later, the value of ether had risen by a few dollars to stand at $11.53 by March 28, 2016. A comparison of both the cryptocurrencies shows that BitConnect Coin has achieved a much higher growth rate than most of its counterparts in the recent times — a record 1800 percent rise in value over last month. During the initial months, BCC's growth and community consensus drew comparisons to Bitcoin, but more recently, the cryptocurrency has seen a sharp rise in value, which resembles more closely to the most recent rise of Ether.

Although Ether has witnessed a 2000 percent rise in value since the beginning of 2017, it hasn't always seen such an impressive growth. In the first six months following Ethereum ICO, the ether token saw a steady rise in value, in tune of around 700 percent, whereas BitConnect Coin saw a 3000 percent rise in its value since first hitting the market and over 10,000 percent increase from its ICO price.

Similar to Bitcoin, the total number of BCC is capped at 28 million units. It is a deflationary currency, with the demand sustaining its present high growth rate. As BitConnect Coin continues to witness continued growth, the trend closely follows the company's previously announced records in value and market capitalization during Q1 2017.

Unlike many other cryptocurrencies, BitConnect Coin doesn't require centralized exchange platforms. It can be traded directly between community members, which makes selling and buying the cryptocurrency much easier than some of its competitors.

If BitConnect Coin continues to grow at the current rate, it will quickly turn out to be one of the best cryptocurrency investments of 2017, alongside the likes of Bitcoin, Ethereum, and Ripple.

Related News

Businesses choose Bitcoin payments as lockdowns lift

As businesses worldwide begin coming out of lockdown into uncharted territory, adapting and surviving the economic and social impacts of COVID-19 is imperative as consumer... Read more »

MVIS CryptoCompare Bitcoin Index licensed to VSFG/Arrano Capital Index to underlie Hong Kong´s first regulated Bitcoin Fund

MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare, the global leader in digital asset data, announced the licensing of the... Read more »

Retail investors set to sweep up diminishing supply of Bitcoin

A report on intentional holdings of Bitcoin published today by digital assets derivatives exchange ZUBR, shows that, if current investment trends continue, daily demand will... Read more »

CoinCorner comments on rumours around a possible new Bitcoin service by PayPal

Danny Scott, CEO at CoinCorner, commented:

“Rumours have been circulating that PayPal is rolling out a service that will allow its 325 million customers... Read more »

Buy Bitcoin little and often with CoinCorner’s new Auto Buy Bitcoin service

CoinCorner, a UK Bitcoin exchange, has launched a new auto buy Bitcoin service which gives customers the opportunity to make Bitcoin purchases on a regular,... Read more »

CoinCorner launches UK first “Bitcoin Cashback” service

CoinCorner, one of the UK’s leading Bitcoin exchanges, has recently launched a new service that will reward customers with Bitcoin when they shop online.

... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel