Peercoin Bounces Back, Volumes Highest Since Late 2013

Peercoin (PPC/USD) has been one of the best performers in the crypto markets during the past week, rising as much as 30% in volatile trade. It is currently trading at $0.386 on BTC-e, its main trading venue, where it is traded against USD and BTC.

One week ago, abnormal trading activity sent its price soaring to nearly $1.00. Aggregate USD and BTC-based volume spiked as high as 3 million PPC (equivalent to roughly $1.5 million) during a 3-hour span, suggesting that oversized buy orders were responsible. The figures are the highest since late 2013, even surpassing those from September when PPC climbed multifold after introducing Nubits.

Volumes during the past 24 hours continue to be well above normal, either due to residual effects from last week's Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term or due to renewed interest in trading the coin. Roughly $170,000 worth of PPC has changed hands during the past 24 hours, the fifth-most among Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

The volume and price performance have rivalled that of Darkcoin (DRK) during the past week. DRK and PPC are the two best performers amongst major coins during the period.

Still, PPC is trading not far off 15-month lows, and more than 95% off its peak near $8.00 in late 2013. It hit a low of $0.23 in mid-January.

Peercoin currently ranks 10th in market cap, worth $8.4 million.