According to recent reports, a small-time altcoin just ended up gaining a lot of adoption and recognition. The name of the altcoin is Metacoin (MTC) and the digital asset saw an increase by 486% within 24-hours. It was Monday (January 18, 2021), when Bittrex had made an announcement that took the entire Bittrex community by a surprise.
On January 18, 2021, Bittrex announced that it was listing Metacoin (MTC) as a pair with the largest cryptocurrency known as Bitcoin (BTC).
The Metacoin (MTC) token has been designed and launched on the Hyperledger network. Hyperledger network is known as the umbrella project that is based on open-source technologies. The main reason for introducing such open-source technologies is to build blockchain ecosystems that are permissioned. These ecosystems have been designed and launched for cross-industry enterprises.
Metacoin (MTC) has earned the title for being the first-ever hyperledger cryptocurrency that managed to gain mainnet status back in 2018.
Just to provide some historical background, hyperledger was founded by the Linux Foundation. The project is overseen and hosted by the premium members. Some of the major hosts of the project include leading finance and technology companies. Names of some of the prominent companies include Hitachi, JPMorgan, IBM, Fujitsu, and many more.
It was just 4 days ago on January 15, 2021, when it was announced by the Bittrex Global cryptocurrency exchange that it had listed Metacoin (MTC) wallet on its platform. The listing of the Metacoin (MTC) wallet would go onto allowing the users to deposit MTC. That is when Bittrex Global had added that the trading pair for the Metacoin (MTC) will be formed with Bitcoin (BTC).
Finally, the Bittrex Global cryptocurrency exchange made the announcement three days later and surprised the entire Bittrex community. What followed next after the announcement of the pairing was the rally that Metacoin (MTC) experienced with respect to its value and demand.
Right after the announcement, Metacoin (MTC) was able to gain a huge surge to its value and within 24-hours, its prices quadrupled. Before the announcement was made regarding the pair, the price for the token was $0.026540 per MTC. Within 24-hours of the announcement, the price of Metacoin surged all the way up to $0.155600 per MTC. This is a 486% increase to the coin’s value within 24-hours.
On the very first day of the launch of the MTC/BTC pair, Metacoin (MTC) has even experienced a surge in its trading volume. On the very same day of the launch, Metacoin (MTC) trading hit an all-time high of $482,000. This is all thanks to the recent pairing of Metacoin (MTC) with Bitcoin (BTC).
Apart from offering Metacoin, the Metacoinblockchain network also offers hosting for several DApps such as ColdBank.