March 15, 2019, | AtoZ Markets - In the crypto market world, it is common to see altcoins go through a 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 Crypto, it seems there is a pump going on right now, primarily made possible due to a huge amount of trading volume. While the crypto market is in a bearish trend, Qtum crypto won the battle as it skyrocketed 36% in just one hour. In this article, we’ll find out the reason behind the massive price gain and What is Qtum crypto?
What is Qtum Crypto?
Qtum is an open sourced public blockchain platform which leverages the security of UTXO while enabling multiple virtual machines such as EVM and x86 VM. The crypto is Proof-of-stake (PoS) based and boasts a Decentralized Governance Protocol (DGP) which allows specific blockchain settings to be changed by making use of smart contracts.
Qtum Crypto was created by adding an account abstraction layer on the Bitcoin fork code to allow sidechain integration with blockchain virtual machines like the ETH Virtual Machine. This hybrid model combines adding Bitcoin’s value-storing capabilities to Ethereum’s smart-contract platform.
Qtum crypto jumps 36% in one hour
Over the past 24 hours, there has been a 16% Qtum crypto price increase. This bullish trend is visible across both the BTC and USD markets. Because of this unexpected gain, one Qtum crypto is now valued at 2.70 USD. A very interesting trend, especially at this time in history.
The price movement of the Qtum coin in one hour was pictured to be 36% upwards. This has also pushed the coin ahead in terms of market capitalization placement, as it was seen in the 25th position rather than its usual 30th position in the list.
The highest trading volume for the cryptocurrency was from LBank for QTUM/BTC trading pairs. The second was also recorded on the same exchange but for QTUM/ETH trading pairs. The other top exchanges on the list were UEX and UpBit.
Moreover, the price of the coin could have gained momentum because of its recent announcement pertaining to QTUM integration on Zeux Payment platform. Qtum Crypto has added Zeux App, which enables Qtum transactions at Apple Pay and Samsung Pay Systems. Zeux is a payment mobile app that combines fiat and cryptocurrencies, which has added Qtum coin to its list of tools. On 14 March 2019, the Qtum team reported that the Zeux mobile app plans to list the coin of the Qtum blockchain. Moreover, Zeux allows their clients to take advantage of payments in both crypto and fiat, thus enhancing their purchasing opportunities. The company is based in London and it lets users conduct various banking activities through its mobile application.
Once the Qtum crypto is added to the app, users will be able to use Qtum at all POS terminals like ApplePay or Samsung Pay.
Miguel Palencia, Chief Information Officer at Qtum Foundation said:
“We’re excited that Zeux has added QTUM to its app. This adds a tremendous amount of additional utility for our valued community who can now use QTUM for all point-of-sale payments with merchants that accept Apple Pay, and Samsung Pay.”
As per the CoinMarketCap stats, the Qtum coin was trading at $2.53 with a market cap of $226 million. It recorded a trading volume of $2,029,078,244 USD (24 hours), with a hike of over 36% in the past one-hour and over 45% in the past seven days.
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