Altcoin ‘Family’ Ardor (ARDR), NXT and Ignis Pump 300% in Lockstep
Three altcoins with deep connections all went on crazy pumps at the same time on Friday. Ardor (ARDR), Nxt (NXT) and Ignis (IGNIS) are all products of blockchain development company Jelurida.
Between them, the cryptocurrency trio gained in excess of 300% in a short burst, with Korean exchange Upbit proving the main source of exchange for all three. Let’s take a look at how these coins are connected, and why they all surged without warning.
Busy Week for Jelurida Coins
Jelurida is a creator of blockchain solutions, both open-source and private. Their first major product was the Nxt blockchain, which launched in 2013 as one of the earliest ‘Blockchain 2.0’ projects. The next major project – Ardor – launched in 2016 as a blockchain-as-a-service platform.
Ignis (IGNIS) – Airdrop
Rounding up the trio, Friday’s other big pumper, Ignis, is built on top of the Ardor platform. Speaking of Ignis, its 189% surge on the day coincided with the commencement of a free airdrop for its token holders. Explained in a Blockfolio update by the Ignis co-founder:
“An airdrop to IGNIS holders has been announced! Triffic – free app, which uses a combination of gamification, GPS, augmented reality and Ignis blockchain technology to drive customer loyalty, will distribute 154 M GPS tokens to IGNIS holders!”
Ignis saw an influx of $90 million worth of trades, despite only being a $45 million capped token. Most of that came from Korea’s Upbit, although $4 million also came from the U.S based Bittrex.
From the daily low of $0.027615, the IGNIS price shot up to $0.079950 within a couple of hours. That marked 189% gains before a pullback to the $0.064 range.
Ardor (ARDR) – 100 TPS for 2 Weeks Straight
Searching for a reason for ARDR’s 72% pump, we come upon the news that Ardor has been doing some testing of late. As per a recent announcement, a blockchain load test was carried out by the team at Ardor which saw 100 transactions per second maintained for two weeks straight. That amounts to over 120 million transactions in total.
This is no doubt a notable achievement, although similar results have been achieved under test conditions on other blockchains. The real test comes with human usage, which always throws up unexpected variables.
Regardless, the value of ARDR rose by 72% in lockstep with the Ignis surge. The coin price jumped from $0.078406 up to $0.135266, before falling back to the $0.11 range. Again, KRW trades on Upbit were the main source of the action, with contributions from Binance and Bittrex.
Nxt (NXT) – Associated Pump?
The oldest chain of the three gained the least during Friday’s Jelurida family surge. Amid the hype surrounding Ignis and Ardor, Nxt was left in the shade somewhat, but still managed to pump to the tune of 45%.
With no obvious landmarks for Nxt, it might be fair to assume it benefitted from association only. From a low of $0.030063, the NXT price hit $0.043640 briefly, before falling back to $0.038.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Charts via CoinMarketCap.