Bitcoin Dark (BTCD) Surges To $100 In A Matter Of Hours, Recording A ‘Mysterious’ 277% Growth

The price of the altcoin named Bitcoin Dark (BTCD) has recently risen from about $20 to a peak of $100, after which it corrected to $80.

Many people believe that the 277% growth is actually a pump and dump scheme – which concerns many traders at this time. Historically, the altcoin has never seen such massive growth in 24 hours, and the trading volume also surged from the standard $100k-$200k/day to nearly $1 million being traded on the BTCD market yesterday.

Right now, Bitcoin Dark (BTCD) is traded on Poloniex and Trade by Trade only. The BTCD/BTC and BTCD/XMR pairs on Poloniex, however, account for more than 90% of the cryptocurrency’s total trading volume.

Bitcoin Dark is right now somehow unavailable on Poloniex – as the exchange shows users a message that reads that BTCD is “under maintenance and experiencing wallet issues.” The deposits and withdrawals are also disabled while the exchange “works to find, test and audit a solution.”

This is one reason more to believe that BTCD may have risen because of speculations. Meanwhile, the BTCD team moved to the development of another cryptocurrency named Komodo (KMD) – one that is currently trading at $1.61 after rising 16.6% in the last 24 hours.

Remember that #BTCD was swapped for Komodo. And the whole team moved on to the development of #Komodo. So, you can follow all the news on Komodo's official Twitter here : https://t.co/l6HB5fVuXG

— BitcoinDark (@BitcoinDark) May 7, 2018

So, the real reason behind the massive surge of BTCD is still unclear – and many social media users pointed out that since the project has been abandoned, a pump and dump scheme is the obvious answer.

https://www.twitter.com/blbtheman/status/1036914504980987904

If such thing has happened, Poloniex may have stopped the perpetrators from getting away with it by freezing the deposits and withdrawals on its platform.