In last trading session, the stock price of BTCS Inc (OTCMKTS:BTCS) gained more than 179% to close the day at $0.00615. The traded share volume was 134.73 million, almost 12 times of the average share volume of 10.86 million. Do the sharp gains on strong volume recorded last week indicates the start of bull run in BTCS stock? Well, this the coming weeks will tell.
The news
One of the key pilot program that brought BTCS into news in this year was the Ethereum Pilot Program, which the firm launched in mid-March of this year. Ethereum is a blockchain platform and digital currency emphasizing on smart contract applications. The decentralized system of Ethereum enables transactions without interruption, censorship, deception, or third-party interference. Since early February, the digital token’s value, i.e. Ether’s value has grown at a 500% rate with the total market cap of Ether surpassing $1 billion.
Charles Allen, the CEO of BTCS, stated that as the preliminary U.S. listed blockchain-focused firm they intend to offer their investors with diversified exposure to blockchain technologies and digital currencies. Given the recent performance of Ethereum and the rising stake from major players in finance and tech, they consider it as a perfect time to introduce a pilot plan. With the capacity expansion they closed at North Carolina facility last year, they are well-positioned to scale businesses when required, even as they continue to ramp existing bitcoin-focused deal verification processes.
Ethereum has got immense support since its release in 2014, including assignments with IBM and Microsoft. The introduction of the first production release, named Homestead, is all prepared to make Ethereum a blockchain know-how that will be important to smart contract based products. During that time launch of Ehereum’s initial production release, the co-founder of decentralized platform development company ConsenSys Enterprise, stated CoinDesk that Homestead’s release will showcase the next-gen of blockchain know-how.
While Ethereum focus is on smart contracts, it’s vital to remember that there are numerous firms working on solutions to develop smart contracts on bitcoin’s blockchain, using the deep security offered by its more recognized and secure blockchain.
