Peercoin is an ‘older altcoin‘ with a history of innovation pre-dating many of today’s current ‘hot‘ cryptocoins.
In recent days, Peercoin has caught on with traders - who have pushed the price of PPC up significantly.
The Peercoin Ecosystem Expands
The price has been rising in expectation of Peercoin’s imminent release of NuBits.
NuBits was announced on June 5, 2014 by Jordon Lee and is now nearing release. Many details about NuBits have not yet been unveiled to the public. The idea behind the project is that NuBits will tie together various aspects of the Peercoin ecosystem, creating more value.
Currently it seems as if traders are riding the wave of the imminent release. After that, they very well may ‘sell on the news.’ That has been the general pattern for some time with altcoins. If NuBits actually lives up the claim of being a ‘game changer,’ the price may be sustained at the new ‘higher high’.
Peercoin is currently parked in the fifth position of the Altcoin Top 10, with a market cap just above $37 million USD.
Peercoin does not receive as many mentions as some of its’ competitors, but the cryptocoin is well-regarded by altcoin aficionados. Peercoin is the first ‘Proof-of-Stake‘ coin and has maintained a large following of miners and stakeholders. In the last 24 hours, PPC has finished second only to Bitcoin with trading volume over $4.2 million. This proves - once again - that cryptocurrency ecosystems are hotter than two rats making sweet love in a wool sock.
The introduction of ecosystems are helping to increase the value of the underlying cryptocurrency because of the addition of economic value to the blockchain. The currency becomes more usable as services are added, which tends to move prices upward.
Whether the price of PPC continues its’ upward climb will in large part now depend on how useful and innovative NuBits is. There are numerous cryptocurrency ecosystems vying for market supremacy. The ones that capture the users due to their inherent functionality are poised to see large gains for their underlying cryptocurrency, which will reward those who invested early.
We’ll keep monitoring for developments.
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