A lot of interesting things have happened to BitConnect this past week. Whereas the value per BCC has increased, the total market cap is down quite a bit. In fact, the currency is no longer in the top 10 of cryptocurrencies ranked by market cap. So far, it doesn’t seem to diminish the appeal of this digital currency just yet, though. It will be interesting to see how things play out in the coming weeks.

The biggest surprise this week is the BitConnect market cap. More specifically, CoinMarketcap reduced the currency’s cap by quite a lot. Whereas BCC was heading toward $2bn not too long ago, that situation has changed a lot. At the same time, the changes reflect the future of BCC a bit better right now. The circulating supply, total supply, and max supply have all been updated accordingly. A welcome change, as it makes things a bit more transparent for investors.

BitConnect is Still Going Strong

Previously, the total supply and circulating supply were the same numbers. However, it turns out only 25% of the total supply is in circulation right now. Moreover, the maximum supply is now capped at 28 million BCC. As a result, the BitConnect market cap took a major hit. Not surprising, though, as it is due to the circulating supply update this has happened. In the end, it is a positive change that will help this currency grow.

Most people are interested in the BitConnect price these days. So far, things are heading in the right direction. Every BCC is worth almost $275 right now, which is pretty impressive. The growth continues without too many issues, that much is evident. Reaching $300 per BCC will happen before the week is over, by the look of things. There is a small BCC dip in USD right now, but that is mainly due to the Bitcoin price running out of steam for a few hours.

Additionally, the BCC trading volume is still going strong. Over $20.8m worth of BitConnect has changed hands in the past 24 hours. BCC Exchange is still the go-to platform, but that isn’t even remotely surprising. Livecoin and NovaExchange are also doing their part of the job, which is good to see.  It will be interesting to see what the future holds for this particular digital currency. So far, things have continued to evolve in the direction people had expected.

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About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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