No one will be surprised to learn there is still plenty of manipulation going on in the world of cryptocurrencies. We see some very strange market momentum, especially when a currency no one has heard of suddenly enters the market cap top 20.The U.Cash price has suddenly surged by over 750% in the past 24 hours, which means this currency how has a market cap of over $1.78bn. With just $4.17m in 24-hour trading volume, it is evident this U. Cash price trend is a pump-and-dump cycle first and foremost.
What is the Deal With U.Cash?
It is not surprising to learn virtually no one has even an idea as to what U.Cash is about right now. It is a project few people know of, let alone show an interest in. Given this very low trading volume, it is obvious this current U.Cash price trend will not last for very long, even though the currency’s market cap has been pushed to $1.788bn all of a sudden. A crazy development, but if there was ever a clear indication of a pump-and-dump scheme, the current U.Cash price trend is a clear example.
To put this into perspective, the U.Cash price has risen by over 750% in the past 24 hours. Although spectacular gains are not entirely uncommon in the world of cryptocurrency, it hardly ever happens we see such a major trend materialized in quick succession. Especially for a token which was only recently released, the U. Cash price has certainly seen a lot of momentum. Once the initial hype dies down, however, things will probably quiet down a bit.
What makes this a clear pump-and-dump is how the U.Cash price soared by over 700% in USD, BTC, and ETH value. While these are solid gains all across the board, it is evident this market manipulation a tits finest. By the time you read this article, it is highly likely the U.Cash price is nowhere near $0.20 anymore, but rather back to down to single-digit cents, if not lower. For those who make good money from this pump, now is the time to start cashing out before the trend reverses.
One worrisome aspect about this current U.Cash price pump is how it has virtually no trading volume over the past 24 hours. To be more specific, it has $4.173m in 24-hour volume, yet notes gains of over 700%. With virtually no interest in this currency, the current price pump can quickly turn into a massive dump to push the U.Cash price back down once again. For now, we will have to wait and see how this market evolves, but it’s evident people chasing the pump will lose a lot of money in the future.
Considering how the U.Cash token can only be traded on one exchange right now, it is only a matter of time until the price comes down once again. BTC-Alpha is not exactly an exchange most people are familiar with, yet it does show any new token or digital asset can soar in value through sheer manipulation. In the case of the U.Cash price, the momentum will run out soon enough, but it remains to be seen how this situation will evolve in the future.
For now, it may be best to ignore the current U.Cash price pump, as it is evident this trend cannot be sustained for much longer. With such low trading volume and only being listed on one exchange, it has become evident this manipulation will backfire on people chasing this trend sooner rather than later. We can only hope all cryptocurrency markets will calm down a bit and normal market trends will resume in the future. The last thing we need are more [useless] coins pumping out of the blue for no apparent reason.