Space Nodes and Atomic Swaps; Qtum Price Climbs 12% Amid Stasis

Qtum (QTUM) saw a 12% overnight increase to its coin price last night, fresh off the heels of increased exposure for the first atomic swap performed on its blockchain.

QTUM Price Climbs Again

It’s a case of ‘back to business’ for Qtum – the coin surged to similar gains just over three days ago before the broader market dip came along and wiped out 20% in a flash.

While the bulk of the market remained in stasis over the weekend, Qtum kickstarted its ascent once more. From Saturday’s low of $2.08 the coin price climbed to $2.33 by Sunday morning – a 12% increase.

Qtum trade volume did undergo a near four-fold increase earlier in the week before the market dip, as the daily changeover rose from $85 million to $320 million. The market plunge reduced that back down to the $100 million range, but trades are on the increase once more.

A rise to $225 million worth of trades by Sunday came courtesy of a massive increase to trading activity on the LBank and Bit-Z exchanges. On both exchanges, which process between $270 – $380 million in total, QTUM/BTC and QTUM/USDT trades have dominated. Close to 60% of QTUM’s daily total came from these two platforms over the previous twenty-four period.

Atomic Swaps

An atomic swap is where a transaction occurs between two separate coins on two separate blockchains, without the use of a trusted third party like an exchange.

Anyone keeping up with Qtum’s development over the past eighteen months might have expected this sooner – after all, one of Qtum’s core features is interchain compatibility. The project is a Bitcoin fork, with a re-jigged version of the Ethereum Virtual Machine placed on top. Check out ‘Why Investors Should Pay Attention to Qtum’ to learn more about its tech features.

Although not the first atomic swap of its kind, the instant transfer of QTUM into BTC garnered some mainstream attention in the form of the high-circulation Nasdaq.com – perhaps helping Qtum’s increased activity this week.

How Atomic Swaps work.

In Other News

The Qtum team took to twitter on Saturday night to remind everyone that they are currently the only blockchain with a node running in space.

The node is fully operational, and its purpose, beyond being a useful marketing tool, is to test the resilience and functionality of the SpaceChain OS – an operating system that interfaces with the Qtum blockchain.

The satellite was launched in October of last year from XinZhou, China, and is currently flying over Africa at time of writing, according to SpaceChain’s live feed.

Qtum’s increase on Sunday returned the coin into the top thirty by market cap. SpaceChain (SPC), a Qtum-based project, also climbed 5% in value, but remains ranked at 488th by market cap and hampered by low volume – despite an SPC/BTC listing on Upbit.

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.

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