{"id":108760,"date":"2021-01-18T18:48:29","date_gmt":"2021-01-18T18:48:29","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108760"},"modified":"2021-01-18T18:48:29","modified_gmt":"2021-01-18T18:48:29","slug":"first-hyperledger-based-cryptocurrency-explodes-486-overnight-on-bittrex-btc-listing","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/first-hyperledger-based-cryptocurrency-explodes-486-overnight-on-bittrex-btc-listing\/","title":{"rendered":"First Hyperledger-based cryptocurrency explodes 486% overnight on Bittrex BTC listing"},"content":{"rendered":"<p>A little-known altcoin known as Metacoin (MTC) surged to 486% gains in just 24 hours on Jan. 18, after Bittrex announced it would be listing the coin against Bitcoin (BTC).<\/p>\n<p>Metacoin is built on the Hyperledger network, an umbrella project of open-source technologies focused around building permissioned blockchain ecosystems for large cross-industry enterprises. Metacoin became the first cryptocurrency of Hyperledger\u2019s to achieve mainnet status when it went live in 2018.<\/p>\n<p>Hyperledger was founded by the Linux Foundation, and is overseen by a host of \u201cpremium members\u201d, comprising leading technology and finance companies, such as IBM, J.P. Morgan, Fujitsu, Hitachi, and more. <\/p>\n<p>On Jan. 15, the Bittrex Global cryptocurrency exchange announced that it had opened its Metacoin wallet for deposits of MTC, and that trading against Bitcoin would soon follow. <\/p>\n<p>Little over 48 hours after the announcement was made, the value of each MTC coin had more than quintupled. From a starting price of $0.026540 on Sunday night, the dollar value of the coin increased more than fivefold, climbing to a brief peak of $0.155600 by Monday afternoon &#8211; a 486% increase.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/e5a9674e-e1c9-49b3-a91e-3e359610ff21.PNG\"\/><\/p>\n<p>Metacoin trade volume hit an all-time high of $482,000 on the day, all emanating from a single BTC trading pair on the Liquid exchange. This just exceeds the $444,000 volume recorded in August 2020, during the coin\u2019s first two weeks on the open market. <\/p>\n<p>Notably, despite the surge following hot on the heels of the announcement by Bittrex Global, no trading data for Metacoin yet exists on the site, and the BTC\/MTC pair was still signalled as being \u201coffline\u201d.<\/p>\n<p>Taking Hyperledger\u2019s cross-industry modular toolkit as a starting point, Metacoin acts as a multi-function blockchain platform where tokens for businesses and commerce can be issued on-chain. The platform also plays host to a number of DApps, including ColdBank, a crypto custody service which utilizes IBM\u2019s LinuxONE technology, as well as blockchain gaming apps.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/first-hyperledger-based-cryptocurrency-explodes-486-overnight-on-bittrex-btc-listing\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A little-known altcoin known as Metacoin (MTC)<\/p>\n","protected":false},"author":3,"featured_media":108759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First Hyperledger-based cryptocurrency explodes 486% overnight on Bittrex BTC listing - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/first-hyperledger-based-cryptocurrency-explodes-486-overnight-on-bittrex-btc-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Hyperledger-based cryptocurrency explodes 486% overnight on Bittrex BTC listing - 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