Paragon (PRG), a crypto-currency developed for the application of the global cannabis business, has recorded in the last hours of an incredible increase in the price of 3445%. Thanks to this rate increase PRG in the Top 20 is ascended in CoinMarketCap, measured in terms of market capitalization.
The Chart History
Where did the price explosion?
The crypto world is full of Surprises and innovations. To find the reason for such a rate increase is as the viewfinder for a needle in a haystack. Paragon’s remarkable growth has been triggered by a minimum volume of only 28,000 US dollars, at a price of 8.8 U.S. dollars , an increase of 4500%. Initially, there was a lot of interest to the PRG, which, however, flattened out, as the SEC ausbremste the project in November 2018 with an injunction.
In the same month, the SEC also issued a cease and Desist order in summary proceedings, against the Canada-based company EXY Crypto. The company used the famous Social Media platform LinkedIn, to reach his potential victims.
Since January, 2018, the PRG has, how many other crypto-currencies also of tremendous value is lost. From a peak of about 0.92 to $ in January, PRG fell in November to a rate of less than one Cent. PRG was previously traded under 0,19$, where the regular trading volume amounted in this period, typically close to the 98,000$. In the same month, Paragon showed a rapid increase of only 0.7 cents, to nearly 13 cents. A huge increase of 1265%.
On 1. January 2019 registered PRG a significant boost. The course came from 29 cents to almost $ 11, in only 5 hours. After that, it came with the PRG to a strong volatility. For this reason, it sank twice again to nearly 3$ , and before it rise two more times over 9$. In this time, the volume of trade increased, and subsequently, the PRG declined to 0.44$.
Until now, the reason for the increase is not yet known, but it seems more than likely that the increase is due to the fact that a single Person has purchased a large quantity of or someone operates Washtrading, since the volume was so low. Also, the Deposit of Paragon on the Exchanges has been temporarily disabled, so that it is expected that Paragon is veerschwinden when the time comes again out of the Top 20.
Check always the volume of trade before you in something to invest. If the volume is “dead”, you should be careful and think twice about it, investing your money in such an asset.
Paragon was founded to implement the Blockchain technology in the cannabis business. From August 2017 to October 2017 has enabled Paragon to the distribution of, and trade with the digital PRG and PRG-tokens on the Blockchain. After the Paragon, the problems with the SEC from the world created, were re-sold tokens to draw more capital to the country. Paragon wanted to promote the legalization of Cannabis.
According to the agreement, Paragon reported on the process in which the PRG-Token as a result of the Paragon would win applications, and stated that the PRG-Token would be exchanged on secondary markets. Paragon collected during the unification of digital Assets to the value of around $ 12 million.
Disclaimer: This information should not be regarded as confirmation of a crypto-currency to be interpreted. It is not a recommendation to trade. The crypto market is full of Surprises and excessive wealth. Do your research before you buy something. To not lose more you invest, as you can afford.
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