Syscoin price takes an upward hike while the entire crypto market is ridden with a bearish trend. Syscoin basically offers a digitized marketplace that recently upgraded to 3.1 version and got integrated into CoinSpot platform.
Syscoin (SYS) emerges a winner with 12% price surge
Currently, the cryptocurrency market is riding the bearish trend including the dominant cryptocurrency Bitcoin which is bordering on $8,000 price level. Altcoins like Ethereum, Bitcoin Cash and Dash among others are doing even worse by experiencing the drop of between 3-9 percent.
However, today’s winner with positive market value is Syscoin (SYS) which has risen 12.79 percent in the past 24 hours and is trading at $0.440 USD at the time of writing. With the market cap of over $230 million, SYS has the 24-hour trading volume of about $34 million.
Despite the market wide downward trend, Syscoin which is ranking at 71 also saw a gain of 5.40 percent against BTC.
If we take a look at the past 7 days data, during which the entire crypto market has been continuing its downward trend, Syscoin was at $0.375 which went up to $0.425 level, even climbing to $0.468 level yesterday.
A special attraction regarding Syscoin is the BlockMarket app that basically offers complete features to send as well as receive the SYS. Moreover, it keeps your transaction logs in order, allows you to send encrypted messages, buy and sell items and resell other items.
Recently, CoinSpot integrated Syscoin on its platform though there is no such information shared by Syscoin. The majority of its volume is traded through Binance, Upbit and Bittrex.
Syscoin harboring potential
With thousands of coins out there, it could be pretty hard for crypto enthusiasts and investors to move down from the top ones. However, there are plenty of cryptos that may be present at the bottom of the list but holds great value and potential.
Launched in late 2014, Syscoin has been originally created through a Bitcoin fork that brings us to the Syscoin 2.1 version that has been recently updated to the Syscoin 3.1 version. SYS has an algorithm that allows it to be merge-mined with Bitcoin.
Syscoin provides a decentralized marketplace with unlimited inventory items and near zero cost transactions. It also offers the benefits of escrow service, integrated exchange and digital certificates with no downtime.
At the end of last month, on April 30 Syscoin upgraded its system to 3.0 version which drove SYS price to $0.55 and now it is one of the few cryptos to registers gains.
What are your views on Syscoin and Syscoin price taking a surge amidst the bear market? Share your thoughts with us!
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.