Following its 40% rise within just 24 hours, CoinMarketCap indicated that Hshare is trading now at $2.24. Today, when TOPBTC was over $4 in the overall HyperCash price, it was trading at $3.10.
The TOPBTC price was excluded from the total HC price by the automated script of Coinmarketcap. In this respect, the 50% rise is not shown in the price now. This is the usual tendency when some exchanges surpass a specific threshold in terms of price difference.
This bullish trend is led by TOPBTC exchange, with a trade volume of $2.6 million worth Hcash within the last 24 hours. Actually, it exceeds all the others together by its HC volume.
As you might have not been aware, as a cryptocurrency intended for transferring values between blockchains, Hshare is a token for Hcash. It empowers quantum resistance, private transactions, and DAO governance.
It differs in terms of the Hcash habitat having two chains performing in a line. Hcash and HyperExchange are these two coins.
Why Does The Price Increase?
Most probably, this rise is partially associated with the Hcash team conducting a Hshares (HSR) to Hyper Cash (HC) token swap. The swap is already announced by various exchanges including but not limited to KuCoin, Binance, Huobi, and Gate.io.
The development team succeeded the implementation of the token swap. In this respect, it is evident why the traders are all keyed up for Hyper Cash, the new token.
Note that a 50% price increase to the levels of $3 brings the market back to the earlier levels in September. Here what is important is whether Hcash can remain above the support on $3, not compromising the rest of the crypto market.
Surprisingly, there is a controversy between TOPBTC and Binance in terms of HC prices. Hcash is trading at $3.94 on TOPBTC and at $2.10 on Binance.
Although this can be deemed as an opportunity for arbitrage, the background on the TOPBTC platform should be considered. To get details about the exchange, look at the TOPBTC review of Forex Brokerz.
We see a triple bottom when we check out the HC/BTC trading pair. As a promising picture, the increase in the price of HC gets realized on larger exchanges including but not limited to Binance and OKEx. On the other hand, by now, these exchanges have just a limited volume.