Bitcoin Gold Market Debut Was A Success – Already #5 In Market Capitalization!

11/26/2017 - 14:54 UTC
Bitcoin Gold Market Debut Was A Success – Already #5 In Market Capitalization!

Bitcoin Gold has finally made its debut in cryptocurrency markets, and that debut is deemed a success as the price has risen above $300 dollars. That effectively positioned it fifth in market capitalization across all cryptocurrencies.

As the chart below shows, Bitcoin Gold (BTG) has had a rocky start since its birth in late October. Among unjustified rumors of scam and a somewhat late response by the development team about the "premine" issue, BTG price stayed low in the first ten days of November, but it rose as high as 496 dollars on November 11. Then it retracted to previous levels but it has shown a strong upwards movement in the last couple of days. At the time of writing, BTG is traded at 348 dollars.

The recent rise is paired by strong market volumes which means that individual investors are finally trading on Bitcoin Gold.



What changed since November 22 that justified the rise in BTG price and volume? The answer is simple: Established cryptocurrency exchanges listed BTG on their platforms. On November 23, Bithumb has opened trading for Bitcoin Gold as the project happily tweeted:

On the same day, the world’s largest crypto-exchange Bitfinex announced deposits for Bitcoin Gold

At the time of writing, Bitcoin Gold is listed on all major cryptocurrency exchanges, such as Bitfinex, Bithumb, HitBTC, OKEx, Binance, Bittrex, Exrates, YoBit etc with a few noteworthy exceptions. Coinbase, Poloniex and Kraken have yet to list BTG in their platforms, prompting the project to publicly call them to re-think their position on the new Bitcoin offspring:

bitcoin gold on coinbase\

bitcoin gold team on poloniex

Given that so many other exchanges support BTG now, it is probably a matter of time before Coinbase, Poloniex and Kraken start Bitcoin Gold trading. After all, the development teams has fulfilled its promises implementing both replay protection and unique address formatting, two features that greatly enhance user security when transacting BTG.

At the moment of writing, Bittrex has the lion’s share (30%) of BTG trading volume with over $52 million in BTG/BTC trades. It is followed by Bitfinex (19%) with $32 million in BTG/USD trades. Here’s the Top-20 Bitcoin Gold Markets at the moment:

bitcoin gold markets November 26

See also: Which Exchanges, Wallets And Pools Support Bitcoin Gold


Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.