The Sia pump happened today is really impressive. It is like that of Nxt which had been pumped hard for two weeks.
Is there some particular reason for this pump?
Is there some particular reason for this pump?
In my modest opinion, it is due to the incoming hardfork at block 135000 (in about 2-3 days):
- The hardfork news are giving a lot of visibility to Sia. Unfortunately most of the traders that move the markets do not read accurate sources of information and believed for several months the project was dying (totally false, the development has not stopped at any time and we had very good news in the last months). So more exposure in the social media lead to people read about Sia.
- A lot of traders have the miss-conception that the hardfork will drive to the creation of 2 coins in a similar was as Bitcoin Cash fork, so they are buying SC ahead of the fork. This is totally incorrect and people need to understand that this hardork will not create two coins: It is network upgrade that will make old client versions incompatible with the new rules of the blockchain. All users, miners and exchanges are going to use the new blockchain rules, and so the legacy chain will be abandoned. The Siacoin we will all use is the new one, and the legacy Siacoin will not be listed on any exchange, as no miners will mine for it, no users will use it.
