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ByteCoin up 30% Amidst Huge Recovery For Cryptomarket

Businessman looking far in economic forecasting concept

Following the recent dip across the board for all cryptocurrencies the past week, yesterday saw significant recovery for the majority of coins with Bitcoin (BTC) rallying back up to the $7500 mark.

One of the biggest winners, however, was ByteCoin (BCN) with a huge 30% jump in the market that took it to $0.0067 from $0.0051.

Although admittedly a way away from it’s all-time high of $0.018 on May 8th when it listed on Binance, this is still a significant sign of improvement for the coin.

Bytecoin (BCN) is a completely anonymous cryptocurrency that uses the Cryptonote protocol, which allows anonymity by using Ring Signatures to hide wallet balances and transactions. Launched on July 4th, 2012, it is the first Cryptonote currency of its kind. It use of ring signatures makes any transaction effectively unlinkable. Its full whitepaper can be found here.

Other than Bytecoin, almost every single coin on Coin Market Cap has improved in the past 24 hours, with many other coins also seeing a double-digit percentage gain. THETA was close behind Bytecoin with a 27% increase and ICON (ICX) saw an 18% jump. IOTA benefited from an almost 14% increase which moved it into 9th position, taking over from TRON (TRX).  Bitcoin Cash, Augur and Golem were amongst others with double-digit gains.

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