Quote from: ikonic1 on April 07, 2016, 06:54:03 PM

Quote from: GreekBitcoin on April 07, 2016, 05:44:34 PM

Quote from: mangox on April 07, 2016, 12:49:28 PM

Quote

News? IT'S HAPPENING!

what are the news that such a course is raging? Shocked

Probably nothing except someone bought literally ALL THE COINS and now will try to pump it in order to dump it. Well if he manages to break the world record with his effort no problem with me.

According to Poloniex, the 24 hour volume is currently 33 BTC. So this is not one of these alt-coins that rises 200% on volume of 1.5 BTC.

So, as was asked earlier, is there any news or rumours of news? AIUI, most spikes that have volume derive from some kind of news whether legitimate or not.

Any ideas? Thanks.

More accurate to say that normally volume indicates that a move has some technical significance. People who study charts, technical analysts, consider volume very important.

The problem with cryptocurrencies is that
1) You never know what volume is real. Paying 0.x % fees a person may churn the volume as a marketing ploy. Buy and sell ridiculous amounts since some traders sort lists like CoinMarketCap by volume and look for spikes in volume that indicate something. This isn't likely with gapcoin though.
2) Cryptos are still so small that a lot of people are financially capable of moving a market in a major way with little money. Maybe somebody noticed that Gapcoin was created on their birthday and their middle name is "gap" so they took it as a sign from heaven to sell their retirement fund and put it all in Gapcoin. You just don't know what significance the volume has since it could have been one person creating it, for reasons that may be "unnewsworthy".

However, the simple fact that Gapcoin is a higher quality mathcoin, likely to attract the interest of people with longer term focus, suggests that there is some more valid reason for the buying, even if we don't know what it is.

My guess would be another exchange buying up a supply in preparation to list it, but that is only a guess. Second possibility is just somebody who looked at market cap and depth, did some calculations, and decided they could take over the market, including buying new coins, at x price and would make a better profit on Gapcoin than on other coins.

Ultimately it still is an inexpensive coin. The original dev pops up every now and then, and probably will sometime in coming weeks or months. New people moving into crypto will tend to focus more on "productive algorithms" than people in past years did. Gapcoin has gone up a lot but still has better long term chances than many other coins.