The Qtum (QTUM) crypto is drawing investors’ attention on Tuesday. The QTUM token price surged over 10%, while its trading volume jumped more than 13% in the past 24 hours.
What is Qtum (QTUM) crypto?
Qtum is a proof-of-stake (PoS) smart contract, open-source blockchain platform. It aims to combine the power of Bitcoin (BTC) and Ethereum (ETH) in single chain. It is also considered a value transfer protocol.
Also Read: What is Ethereum Classic (ETC) crypto and why is it rising?
Qtum is created on the UTXO transaction model of Bitcoin, with added facilities for smart contract execution and decentralized applications (DApps). In addition, it supports decentralized finance (DeFi) applications.
The Qtum project was announced in March 2016. It launched an initial coin offering (ICO) in March 2017. It was co-founded by Patrick Dai, Neil Mahi, and Jordan Earls.
The QTUM coin was initially issued as an ETH-20 token, but after its mainnet’s launch, it became a native blockchain. The token is available on exchanges like Binance, Huobi Global, HBTC, etc.
Also Read: Why is OriginTrail (TRAC) crypto rising?
Why is it rising?
A string of positive news may have generated investors’ interest in the QTUM crypto. QTUM recently announced that its team would be a premier sponsor at the Binance Blockchain Week in Dubai. The three-day Binance blockchain event will be held from March 28-30 at the Trade Center Arena, Dubai World Trade Centre.
In addition, its ongoing Meme Contest has attracted many investors and crypto enthusiasts. The Qtum (QTUM) and the Guarda Wallet (GUARDA) are celebrating Qtum offline staking. The contest has a prize of US$2000 in QTUM coins for winners.
These positive developments may have triggered a price rally.
Also Read: Why is Oasis (ROSE) crypto rising?
Source: *Data provided by CoinMarketCap.com
Bottom line:
The QTUM coin was priced at US$7.46 at 11:41 am ET on March 22, up 10.68%, while its volume for the last 24 hours surged 13.71% to US$261.94 million. It has a market cap of US$739.46 million, and its fully-diluted market cap is US$804.89 million.
The token’s max supply is 107.82 million, and its current circulating supply is 99.05 million. It returned 19.88% gains over the past 30 days.
Also Read: Why is Fantom (FTM) crypto rising?
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