Paragon rose 6,800 percent in three hours. Why a coin can already be considered dead
Source:
Aldon is doomed if the price suddenly starts to rise sharply. It sounds contradictory, but in the crypt it is. Before the digital asset «dies», it is artificially «pumped» to large holders could push investors failed the last reserves of their coins.
This is Especially true for altcoins with small market capitalization. They are easy to manipulate even with small capital. In this «in their own skin» convinced holders . On Tuesday they enjoyed a very pleasant surprise — the coin has grown at a staggering 6800 percent in just a couple of hours. But then something went wrong.
theLatest pump before death
It is Noteworthy that already was recognized as a dead project some months ago. Aldona in the SEC. Some time after the investigation started, the hype around the PRG, the Commission on securities and stock exchanges of the USA demanded from the team of cryptocurrency to return to investors all the money previously collected at ICO.
Source: CoinMarketCap
So the first of January the price of Paragon jumped to $ 10. A couple of weeks to pump the trading volume of the coin was scanty, and did not grow above 30 cents.
When a more detailed analysis of the incident becomes clear that the project «breathed new life», and the SEC has not pulled it from its hook. In minutes trading volume PRG suspiciously quickly rose to 27 000 $ only on one exchange — Yobit. Then followed a rapid decline.
At the peak of the fever during these hours of the trading volume climbed above 8 million dollars. In December, the indicator was at the level of 700-750 thousand dollars.Those who got in «grinder» Pampa, is now left without money and with unnecessary coins on hand.
Source: CoinMarketCap
A Similar fate is already hundreds of altcoins. Known cryptoanalysis repeatedly stated that the best asset for investment in the crypt .
For courses in the following . And even more close to be found in our .
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Bitcoin will bottom out in 2019, followed by new bullrun. Forecast of the investor
Known venture capitalist and co-founder of world-renowned Fund Union Square Ventures Fred Wilson has shared the blog with his predictions about the stock market for the year 2019. First, the expert discussed the macroeconomic deve...
This is a breakthrough: shop Fortnite takes the cryptocurrency Monero
Store branded goods from online games Fortnite began to accept as a payment method. This was announced by the team itself Monero in his Twitter. Recall, the game Fortnite from Epic Games launched in July 2017. To date, her running...
Analyze graphs: the first leap of Ethereum this year
Shopping a pair of ETH/USD is once again gaining momentum. Since the beginning of this week, the cryptocurrency was able to gain a foothold above $ 140, which clearly had a positive impact on its growth prospects in the future. Wh...
That Grin and Mimblewimble mean for the future of Bitcoin? Let's deal
this month promise to run one of the most anticipated cryptocurrency projects lately. The Grin team maintains complete privacy, wanting to reproduce the specifics of the transaction. There will be no or premining. The project will...
Mining is not dead: the difficulty of mining Bitcoins has increased by 10 percent
Late autumn was not the best period for miners . Due to low profitability, many have been forced into this business, which led to a sharp drop in Hasrat network cryptocurrency. By the end of 2018, the situation began to change in ...
Back in time: what was the world's first Aldon and what happened to him now
it is Hard to imagine a time when the ratings of the cryptocurrency wasn't full of huge number of various altcoins. Then the term «Sitkin» not yet invented, and the index of dominance of Bitcoin did not exist, because &#...
Bitfinex and Ethfinex complete the migration on dedicated servers. When to expect outages?
iFinex goes to the final stage to migrate data exchanges on dedicated servers. Recall, Market Synergy iFinex helps with the transition from AWS to a private cloud infrastructure that is hosted in a Swiss datacenter in the heart of...
Bitcoin is undervalued and its followers will succeed. Review investor
finally, signals of a slight recovery, reaching 4 thousand dollars for Christmas. Throughout December, the dominant cryptocurrency has experienced a strong volatility in the range of 3100 to 4300 dollars in attempts to return to ...
Why Ethereum is at best a scientific experiment? The opinion of the founder of Adamant Capital
the Third of the market capitalization of the coin is now in the center of attention of the crypto community because of the recent negative reviews of the founder of Adamant Capital Tour of the Demister. In his Twitter he outlined...
Tony Weiss: in 2019 you need to only invest in Bitcoin
Reporters Cointelegraph recently took an exclusive interview with one of the most famous supporters of Tony Weiss. Most of the questions dealt with the expectations of the expert relative to 2019 and forecasts growth of cryptocurr...
The gift under the tree: Kraken opens for trading with leverage for XRP and Bitcoin Cash
Want to make money or to lose money on the crypt even faster? Visit The Kraken. More recently, the exchange began to support margin trading . To date, the platform has offered a total of six trading pairs trading with leverage — ,...
The results of the week: what will happen with Bitcoin in the early days of 2019?
Bitcoin is still at the local uptrend, which gives us strong hope for the growth of cryptocurrencies in the first days of 2019. Over the weekend, the coin began to fall sharply, but the downward movement was stopped by the line of...
Die hard: Bitcoin could grow to 820 times, despite all the predictions about his own "death"
cats can be 9 lives, and even more. Recall that only this year, the cryptocurrency more than 90 times. In General, over the entire history of BTC analysts have recorded around 337 cases of public statements about what Bitcoin ...
Aside panic: most recently Ledger vulnerabilities are not critical
the Ledger stated that the recently published vulnerabilities in their hardware wallets are not critical and do not bear danger to the users. We will remind, on the eve of the 35 world Congress of hackers a group of enthusiasts wa...
Against Nvidia filed a lawsuit to the court. What's the matter?
it Seems that the effects of the bear market of cryptocurrencies will have «disentangle» even large corporations. Recently the main graphics card manufacturer faced a class action under the leadership of the legal law co...
the New year patiently stands on the threshold waiting for the end of the pages in the calendar. While the water with the eggs for the salad starts to boil and have a little free time, summarize kryptonite. Remember the worst coin...
Death race: bear market "buried" more than a thousand cryptocurrencies in 2018
the New year is tomorrow, so you can feel at ease to begin to summarize the outgoing 12 months. Yes, as politicians say, this year was really heavy. And especially for Bitcoin. The main cryptocurrency 80 percent, and several times...
Time magazine: Bitcoin can be a refuge from economic control and disability
For nearly ten years of existence of Bitcoin many well-known journalists who often do not even realize the value of assets on the basis of the blockchain, openly decried the cryptocurrency. Some argue that the ecosystem is teeming...
Comments (0)
This article has no comment, be the first!