Noah’s Ark Floats Into Top 100 on 97% Daily Growth: Crypto City Ahead?

Noah Coin (NOAH) – formerly known as Noah Ark Coin – just made its entry into the market cap top one-hundred after 97% daily growth compounded 154% growth for the week. In the interest of stretching a metaphor to breaking point, daily volumes have filtered in two-by-two with a 657% boost over the course of Wednesday, August 29th.

The team behind Noah Coin recently detailed plans to build a ‘crypto city’ on their Medium blog, and some commentators have posited this as the reason behind the day’s growth, although that remains to seen.

Noah Coin Records 97% Daily Growth

Starting at a daily low of $0.001292 late last night, NOAH felt the upward pressure provided by its largest trade influx in the last three months. By early on Wednesday afternoon, NOAH had peaked at $0.002547, marking 97% growth over twenty-four hours and its highest token price in since mid-July.

Market cap readings for NOAH only kicked in early July, and after an initial flurry the token just trailed off. Noah Coin barely felt the market dip of August, losing a mere 30% between August 7th and August 10th, before recovering every bit of it back by August 14th.

Looking at the past seven days, Noah is up 154% from a weekly low of $0.001001. The majority of that came in the last two days, although there was steady 14% growth over the course of the week.

Trade volumes soared to the tune of 657% over the course of the day, rising from the monthly average of $350,000 to the current daily peak of $2.46 million. That number continues to rise at the time of writing, even as the token price falls back down to the $0.002460 range.

NOAH/BTC trades exceed 68% for the day, with HitBTC and YoBit handling nearly 90% of the movements between them.

Crypto City Announced

A quick glance at Noah Coin’s blog reveals they’ve been working on plans for a ‘crypto city’ since well into last year, and appear to have already opened a holiday resort called ‘Noah Resort’ located at Dakak Park and Beach in the Philippines.

The pump over the last few days has been attributed to the recent Medium post from August 27th which lays out plans to turn the Dakak Park and Beach resort into ‘Noah City’ – an area fuelled entirely by the NOAH cryptocurrency.

Noah Coin’s plans have been covered in various 2017 articles of the Philippine editions of Forbes, The Economist, with much of the focus on upcoming crypto cities. The span of time between the initial announcement of these plans, and the surge that it supposedly triggered today sets alarm bells ringing.

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.