EMC +50%. Why Is Emercoin Up During Red Market? - Emercoin News, Price Analysis. Tuesday, September 11
As most of the cryptocurrencies are still struggling not to fall any further, Emercoin (EMC) is going against the current and increases by 50% in value in last 24 hours. Has it been affected by Pump and Dump or is there some hidden game-changing news about the project?
What is Emercoin
Emercoin has developed variety of dSDKs, which consists of tools which allow for easier and better creation of software, services and various technological solutions in the blockchain field. Usually, it includes APIs, technical documentation and parts of code for fast and easy development on a certain platform. As the project's description says: "Emercoin is an emerging leader in secure, distributed blockchain business services."
It's worth noting that Emercoin partners with companies such as Coca-Cola, Lloyd's, Bitfury or Microsoft.
Why is Emercoin Up During Red Market?
Looking at the recent events and notable announcements around Emercoin project, there doesn't seem to by anything in particular that could affect EMC price that significantly in a short period of time, therefore it would be safe to assume the coin is affected by some pump and dump strategies. However, the trading volumes seem to be quite high and such price manipulation could be hard to do by a single entity. In last 24 hours almost 3 Million worth of Emercoin tokens were moved on exchanges. The current market cap of EMC is equal to $53,535,297.
Recent Emercoin Cryptocurrency News
Looking at the weekly price chart, one can notice that today's highs aren't that revolutionary for the project, as the coin was easily trading in these regions only few days ago, before the market's sudden price decrease in most of top cryptocurrencies. On August 6th, EMC spiked from $1.35 and was worth $1.64. This is a period of time when Hodl Finance cooperation was announcement, enabling EMC to be used as a collateral for crypto-backed loans. They also announced their partnership with Hashing24. During this period, Emercoin was very active during the TechCrunch event Disrupt SF in San Francisco.
EMC Price Analysis
After the positive gains around 6-7th of September, EMC remained relatively stable for few days, just to fall down below $1, as the whole market was affected by Bitcoin and Ethereum price movements. During this period, only few cryptocurrencies managed to go against the current and resist the price decrease. You can read our article about Dogecoin and see the price analysis, as DOGE finds its upwards path during the red market.
On September 10th, EMC was trading around $0.85, which is the lowest it got since December last year. And far away from the all time highs period on January, when EMC peaked at $9.93. Today, on September 11th, the price has jumped within few hours from $0.89 to $1.55. It has already corrected a bit and rests around $1.33 region.
EMC/USD Price Chart, Tuesday September 11th:
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