KickCoin Price Jumps 53% Over Week; Hacked Tokens Refunded

KickCoin (KICK) is up 53% over the week and 37% for the day as the token ascended to an eight month high, coming closer to the lofty peaks of January than most other coins in the top one-hundred.

Monthly, Weekly, Daily Growth

KICK’s existence in the top one-hundred has been short lived at this point, having hopped into 99th spot following yesterday’s spike. The jump into the leading century of coins has been building for a long time now. KickCoin soared through the entire month of July, recording 315% gains over thirty days. That trend accelerated on Tuesday the 31st, with KICK tokens jumping 40% in value over Tuesday and Wednesday.

The growth has levelled off today, but still stands at a hefty 37% over twenty-four hours. Starting today at $0.120, the tokens surged to $0.165, where they now trade at the time of writing. Going back a week, the token price was $0.108. Going back a month the token price was $0.04. Today’s price leaves KICK just 20% off the peak January valuation of $0.20 – a feat which few coins can boast of at the moment.

The vast majority of KICK trades are concentrated on Kucoin, where KICK/BTC trades make up 46% of the daily total. Coming close are KICK/ETH trades with 36% of the daily total. The average daily volume for KickCoin has jumped from $300,000 at the start of the month, to $12 million today. That’s a growth amounting to 3900%, and at this moment around $10 million of it is coming on Kucoin. KICK has been trading on Kucoin since early February, so the thought of any boost from a recent listing can be excluded.

Hacked KICK Tokens to be Refunded

KICKICO, the platform which houses KICK tokens, took to their Medium blog on July 26th to inform users of the hack which recently taken place. The blog stated:

“On July 26 at 9:04 (UTC) KICKICO has experienced a security breach, which resulted in the attackers gaining access to the account of the KICK smart contract — tokens of the KICKICO platform. The team learned about this incident after the complaints of several victims, who did not find tokens worth 800 thousand dollars in their wallets.”

KICKICO have already announced they will refund the stolen KICK tokens stolen in the attack, which they estimate to be worth in the millions:

“During the investigation, it was found that the total amount of stolen funds is 70,000,000 KICK, which at the current exchange rate is equivalent to $ 7.7 million.”

The hack appears to have had no negative effect on KICK’s sentiment in the market, and it will be interesting to see what happens in the next few days. Consolidation or contraction?

Featured image courtesy of Shutterstock. 

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.