Categories: Altcoin News

One of the Top 100 Coins is Up 220% today. What’s the Deal with it?

A controversial cryptocurrency, RChain is currently showing massive growth in its trading volume. It is ranked 74th on Coinmarketcap with 220 percent growth in the past 24 hours.

Zero Trading Volume on Some Exchanges

According to the data provided by Coinmarketcap (CMC), RChain (RHOC) cryptocurrency is exhibiting the aforementioned price surge on August 23, 2019. RHOC is currently trading at $0.188 against the US Dollar and has a the market cap of $70,373,643.

It is interesting to see that on August 22nd, this cryptocurrency was at $0.057 but it suddenly skyrocketed to over $0.188 on August 23rd.

RChain Crypto | Coinmarketcap

RChain runs on top of Ethereum platform and is available on 7 crypto exchanges in different trading pairs. Presently, RChain is actively trading on Bitinka, KuCoin, CHAOEX, BitMarket, Bilaxy, Hotbit and CoinPlace cryptocurrency exchanges with a very low 24-hour trading volume. A few exchanges are even showing zero trading volume of the coin.

RChain Market | Coinmarketcap

Although it is a top 100 coin today, such a sudden spike in the trading volume of a cryptocurrency is unusual it is bound to make the crypto community skeptical. This cryptocurrency was at $2.90 in January this year with the 30th rank on CoinMarketCap.

Fishy Behaviour

According to the earlier reports, RChain Cooperative claimed that the RChain organization was facing bankruptcy. In early 2019, it was asserted that RChain’s liabilities were exceeding its liquid assets, thereby making it “Functionally bankrupt”.

As per another post in April 2019, RChain informed its community that the company suffered a scam. Accordingly, KuCoin exchange (which is one of the exchanges which listed RHOC token) blocked the crypto wallet address of the scammers. RHOC in its blog summarized the scam as follow; “The RHOC being held by the scammers will not be honored upon reaching Genesis”.

Th reason behind the coin’s sudden growth is unclear, but it is to be noted that this behaviour is typical of coins that are involved in pump and dump schemes.

So readers, what do you think about RHOC’s token spike? Let us know in the comment below

Image Source – Chainrock medium blog


Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]


Recent Posts

  • Bitcoin News
  • News

Max Keiser Suggests El Salvador to Float Bitcoin ‘Volcano Bonds’ to Retire the IMF Loans

Last week, El Salvador passed the historic Bitcoin law making it the first country to…

7 hours ago
  • Guides

ZRX Token Review and 2021 Price Predictions

Why ZRX? Major advantages/features  ZRX - 0x is a blockchain exchange protocol that's decentralized, making…

10 hours ago
  • Bitcoin News
  • Blockchain News
  • News

Week in Crypto: El Salvador Adopts Bitcoin as a Legal Tender| China Extends Crypto Mining Restrictions| Coinbase Enters $22 Trillion Pension Market| Bitcoin Taproot Upgrade Locked-In

The week has been quite eventful for the crypto space with major news coming from…

1 day ago
  • News
  • Stablecoin News

USDT Exchange Inflows Reach 5-Month Low, Is Market Gearing Up for Another Dip?

The crypto market is currently in a consolidation phase as bearish sentiments are dominant ever…

1 day ago
  • Altcoin News
  • Bitcoin News
  • News

Crypto Market Cap Falls Below $1.5 Trillion on a Red Weekend

The cryptocurrency market cap fell below $1.5 trillion on a red weekend. More than $100…

2 days ago
  • Bitcoin News
  • News

Taproot Lock-In For Bitcoin is Just 14 Blocks Away, Why it’s Significant for BTC Network?

Taproot upgrade for Bitcoin is all set to get locked in and at the time…

2 days ago