Viacoin gains 45% on high volume to trade at 2-week high

One of the highest volume coins today, a relatively light day for crypto trading, is Viacoin (VIA). It is up by 45% to trade at 0.41 mBTC ($0.19).

With the rise, it has advanced to 19th spot in market cap, worth $2.1 million. It is now trading at a 2-week high after coming off peaks near 0.6 mBTC. Compared with some of the coins posting multifold gains followed by 80-90% losses, Viacoin appears to be less volatile thus far in its brief trading history. It has not deviated by more than 50% from its average traded price of 0.4 mBTC.

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Its primary venue trading is Bittrex, which dominates over 95% of its volume. Currently, it is only traded against Bitcoin.

According to its website, the coin can be used for decentralized exchange of assets like other coins and owner-issued stocks. However, it says that it is different from other currencies designed for this purpose:

“Viacoin is the first digital currency to launch blockchain 2.0 technology on an altchain whereas all previous efforts have focused on leveraging the bitcoin blockchain. However, those attempts to use bitcoin been fraught with technical and political challenges because so far Bitcoin developers have considered those uses as spam and have taken technical measures to prevent them.”

Recently, Viacoin said that it has hired Peter Todd, core Bitcoin developer.