Substratum (SUB) 18% Daily Spike Compounds Weekly Growth of 80%

Substratum (SUB) is among the top performing altcoins in the market cap top one-hundred as of Saturday, August 25th. Net daily gains of 18% have carried the SUB token into the top one-hundred for the first time, and it marks the culmination of a seven day charge which sees the token 80% more valuable than this time last week.

Substratum Token Price Spikes 18%

Starting the day at a token price of $0.155756, SUB went on a run which peaked with 27% gains at a valuation of $0.199231. That peak came just a couple of hours ago at 17:30 UTC. Since then the price has rebounded slightly, falling as low as $0.182905 before edging upwards again – ultimately leaving SUB with around 18% net gains.

SUB’s daily volumes have shot up 123% percent today, while for the week that number is closer to 1,000%, as SUB trades increased from $197,000 to today’s peak volume of $2.1 million.

That’s the highest volume of trades SUB has seen in over a month, or since mid-July when the token followed Bitcoin’s spike over the same period. That was the beginning of the huge division we now see between Bitcoin and the altcoins, and in particular Bitcoin and Ethereum. Bitcoin cleared the $8,300 mark in late July – growth that wasn’t matched by its alternative competitors. When the dip came at the end of the month and accelerated on August 7th, the altcoins came out the worst. But with the increase in SUB/BTC trades over the last week, Substratum has now recovered to pre-August 7th levels.

All Week Long

Substratum’s sustained growth over the last week may match the trajectory of Bitcoin – with BTC also in the green for the week. But SUB’s market value increased to a much greater degree, jumping 80% over seven days. Compare that to the likes of Ethereum which is currently in the red for the week, and you gain some context.

SUB almost say day-on-day growth for the entire seven days, but a 24-hour dip on August 22nd marked out the only day in which the token was traded down.

The Substratum community will be thanking their lucky stars for the Binance listing they secured last October, as over 96% of SUB’s trades have come from there today. SUB/BTC trades are by the far the most popular, accounting for 85%. SUB/ETH trades are some way off on 10%.

The growth overlaps with Thursday 23rd’s announcement that:

“#SubstratumNode 0.3.4 & 0.3.5 released! Node 0.4.0 IMMINENT!”

Substratum aims to utilize spare computing resources the world over, similar to plans put forth by other blockchain projects like Golem (GNT). Node operators on Substratum will get paid in SUB, and this week’s node update moves the 2018 section of their roadmap.

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.