Darkcoin roars back, gains over 200% in 24h

Darkcoin (DRK) has roared back by over 200% since hitting the trenches near 0.0025 BTC on two separate occasions. On

Darkcoin (DRK) has roared back by over 200% since hitting the trenches near 0.0025 BTC on two separate occasions.

On Monday, the coin tanked to as low as 0.0024 BTC (approx. $1.05) during a volatile period for crypto markets which saw Bitcoin’s flash crash on BTC-e. At that point, it was down by 50% in under 24h. Thereafter, it skyrocketed by over 100% to 0.0055 BTC in some of the wildest trading in recent memory, only to surrender nearly all its gains as it plunged back to 0.0027 BTC 6h later.

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From there, DRK started its comeback and soared over 200% to 0.0087 BTC, challenging its highest level in 4 days, which has become a bit of a resistance point. Indeed, it looks like the rally has lost steam, at least for now. It is currently trading at 0.0074 BTC ($3.55) on MintPal.

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DRKBTC- Aug 20

The mid-term trend is still decidedly downward, the coin unable to climb back above 0.01 BTC to signal a reversal. Doing so would actually be a significant feat, as that is now the coin’s 50-day moving average. It has not traded above this mark since early July. DRK is currently trading at a 25% discount to this level.

With the rise, DRK is back to 7th in market cap rank, 4th among mineable currencies, and now worth $13.8 million.

 

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