RATE Group | This Altcoin Surged 80% in Three Weeks Amid Bitcoin (BTC) and Crypto Market Reversal
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This Altcoin Surged 80% in Three Weeks Amid Bitcoin (BTC) and Crypto Market Reversal

22 Mar This Altcoin Surged 80% in Three Weeks Amid Bitcoin (BTC) and Crypto Market Reversal

Posted at 10:31h in Cryptocurrency News by

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A lesser-known cryptocurrency has rallied this month, despite the widespread Bitcoin (BTC) and crypto market downturn.

Tachyon Protocol’s IPX token went from $0.0539 on March 1st to a high of 0.0971 on Thursday – a jump of 80%. IPX is currently valued at $0.0922 with a market capitalization of $24.7 million, making it the 111th largest cryptocurrency.

Source: CoinMarketCap

In contrast, practically the entire crypto market is fighting to recover from a historic reversal.

Bitcoin began the month at $8,564 and rose to $9,136 on March 7th, before plunging as low as $4,121 as global markets collapsed amid fears of the coronavirus. Bitcoin is currently at $6,228, a 27% decrease since the start of the month.

Whether Tachyon Protocol’s rally is sustainable remains to be seen.

The new crypto asset launched on February 25th and is now supported on Bithumb, OceanEX and HitBTC. New cryptocurrencies are especially risky and volatile in a space that’s…

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