Flash Rise on Bitshares [BTS] and Fusion [FSN]: Here’s Why

Published March 25, 2019 | Updated March 25, 2019

Crypto market

Flash Rise on Bitshares [BTS] and Fusion [FSN]: Here’s Why

Upbit Global, the South Korean cryptocurrency Exchange has announced the addition of two cryptocurrencies on its Exchange: Fusion (FSN) Coin and BitShares (BTS). The announcement was made on 25 March at around 9 00 UTC when the price of both coins shot by 80% in a span of 1 hour. However, correction followed instantly as well.

Price Reaction to the Exchange Listing

Bitshares, as the name suggests is equivalent to a share in the Decentralized Autonomous Company (DAC). Famous crypto-entrepreneur, Daniel Larimer initialized the concept. The price of Bitshares (BTS) at 10 00 UTC on 25 March 2019 is $0.0641. It is trading 22.2% higher on the daily scale. It is ranked 38th wr.t. Total Market Capitalization.

Bitshares [BTS] 1day chart source: Coinmarketcap.com
Fusion is a cryptocurrency based platform that is developed to increase the interoperability between different Blockchain platforms. The price of Fusion (FSN) at 10 00 UTC on 25 March 2019 is $0.6551. It is trading 40.5% higher on the daily scale. It is ranked 178th wr.t. Total Market Capitalization.


Fusion [FSN] 1day chart source: Coinmarketcap.com
Also Read: Binance (BNB) Coin Gains 15%, Exponential Rise Continues With This New Update

The instantaneous rise recorded on Fusion Coin (FSN) was about 82.2%, while the surge in Bitshares (BTS) was also 90% at around 9 Hours UTC. The 30-min chart also shows stark similarities between the two graphs. A bearish engulfing channel instantly followed the Bullish Marubuzo.

The small market capitalization of these cryptocurrencies makes it vulnerable to sudden price changes. However, the addition of a ‘token’ to a new Exchange implies increased visibility and usability.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Nivesh Rustgi 1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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