On Friday, a small, relatively unknown currency has displaced momentarily Ripple from the third place of the largest crypto-currencies. The market capitalization grew momentarily higher than the Ripple and caused quite a stir in the crypto community.
This Friday, the 09.03.2018 was to find currencies for a short time a new currency is on the third place of the largest Crypto-to Coinmarketcap.com. PACcoin has reached momentarily a market capitalization of close to $ 34 billion, and extruded so that Ripple on the fourth place. The market capitalization of Bitcoin (almost 150 billion dollars) of Ethereum (just under 68 billion dollars) were to be regarded, like all other values, also as normal.
After this short-term event, some of the supporters of the crypto-currency PACcoin themselves, however, were a bit puzzled and made it clear on Twitter that an old value from Coinmarketcap has been used and, therefore, the Figures considered as incorrect.
In a Reddit quickly became clear that likely to be a false, obsolete multiplier was used.
A member of the PACcoin Community quickly made clear the table (free Translation):
I would like to inform you briefly about the fact that Coinmarketcap has us listed as the third largest crypto currency, because it has obviously used an old multiplier, that is, of course, correct. This was immediately recognized and we are working on it it is clear. Please spread this Information everywhere.
P. S.: I’ve updated Bitcoin Talk, Discord, and more Blogs. Brad, the CMO out of town today. Nevertheless, we will give regular Updates on Twitter.
In fact, the trading was the volume on this day, not even at a Million dollars, so an error on the part of Coinmarketcap had to be present.
Other course page overviews such as crypto compare or Coingecko were not affected, so it was an internal Problem of the platform Coinmarketcap.
This event clearly shows that a crypto-currency gets through sometimes comical circumstances, attention can shift quickly in Frustration. Some of the attentive tracker and users of Coinmarketcap cried in some of the forums immediately SCAM, and cursed the project. The more important was it that the people of the marketing team quickly reacted and all of the ambiguities.
PACcoin has already been established in the year 2013 under the former name “Pacifica Nations official Coin”. A few years later, the new designation was changed to “People’s Alternative Choice”, short of the PAC.
PAC is a strong Conn unity-driven crypto-currency that wants to show off, as the successor of Bitcoin. The biggest difference is the use of a Masternode network.
According to the white paper, the big goal is to be the most efficient and most user friendly crypto-currency on the planet. The network features a dual-Transmission-proof-of-transaction tracking, as well as a network that can be steered by the cooperation of the Community.
At the time of writing, the price of PACcoin is 0,0123 dollars. The next time will show whether we will again hear of this Coin.
Official website: https://paccoin.net/
White paper: read white paper
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