The good news continues for Counterparty as the Bitcoin 2.0’s traded currency XCP jumped by as much as 70% within the past 24h. Counterparty has ported over Ethereum’s project language, making it possible to run Ethereum code on the secure Bitcoin blockchain.
Counterparty’s initial rise of 65% this month was likely related to the project a well, perhaps motivating traders familiar with Counterparty and Bitcoin 2.0 who grew cognizant of the project’s implications.
It is currently trading at 0.0185 BTC ($7.73) after soaring as high as 0.028 BTC just over 12h ago. At its peak, it had gained four-fold since prior to its first big jump in October. Since hitting summer lows near 0.0032 BTC, XCP has gained as much as 775%. Its value has also gotten a boost in dollar terms due to BTC/USD’s recent winning streak.
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The latest jump easily makes today’s XCP prices the highest ever (in bitcoin terms), surpassing the 0.0169 BTC reached soon after trading was launched in February.
It also briefly sent XCP into 5th place in market cap rank, competing closely with Nxt and Dogecoin. It has since slipped back to 7th, ahead of Peercoin, and worth $21.5 million.
Currencies that are not by-products of Bitcoin now occupy 4 of the top 7 spots in market cap, the others being Ripple, Nxt and BitShares.