There was some very interesting action in Viacoin today....
Looking at the 5 minute chart from Bittrex, we can see a massive jump in price and volume. In fact, the price jumped from about 27,500 Satoshis up to a high of 68,000 Satoshis... a jump of 250%. What's more, this jump took place in 20 minutes.
Viacoin also appears to have done a full market cycle.
Let's take a look at the daily chart-
An utterly massive volume spike, about 100 times the average. This gives us an insanely long wick, and a monster hammer at the end of the market cycle. Rumors of what caused this are a rumored hack of the Binance exchange, although Binance has denied the rumors. Still, I thought it would be interesting to check out a chart from Binance. Check out the following-
Even on a 5 minute chart, there is a massive wick, although lots of volume flows into this coin. While this could be what a hack looks like on a chart, it's also the case that Viacoin is a very, very thinly traded coin. One random order could have caused that wick. However, the volume almost makes it look like there was a pump group at play.
Viacoin is also within 6,000 coins of it's max total of 23,000,0000 total to be mined.
If you are already the owner of some Viacoin, keep your eye on this coin the next few days, as it may be the start of a new market cycle or pump, and it could give you a good place to take profits (or get out of a paper loss). That volume is sure to be picked up by many traders. This could also be a good opportunity to get into Viacoin if you were looking to, but don't invest much other than your mad trading money. While it has some interesting promise, this coin is very low market cap.