Survey on Hypercash (HC)’s market and its growth analysis
Hypercash or HCash is a hybrid platform which permits transferring values from both block-based and blockless based blockchains. It was initially named as HShare but later rebranded to HCash, and its cryptocurrency is denoted with symbol HC. There is a total supply of 84 million HC coins. HCash is an open source cross-platform and distributed ledger system which integrates blockchain and DAG systems. This HCash technology includes Zero Proof Knowledge- which conceals the identity of the parties involved in a transaction using bi-directional encryption which improves transactional privacy, Hybrid PoW and PoS consensus algorithm- where Proof of Stake (PoS) is used for creation and verification of new blocks, and Proof of Work (PoW) encourages the miners to increase the computing power and Dynamic real-time electoral system- which provides the voting and the decision making power concerned to the use of revenue to the shareholders with the system; this makes decision making easy for HCash as it follows a hierarchy.
Hcash’s distinctive features comprises of cross-platform exchanges where the shareholders can transfer values from one platform to another with public or private address with their own HCash wallet, Privacy with the use of zero-knowledge proof technology, Quantum resistance which is built in HCash code and is protected against attack from quantum computers and finally, decentralization of governance system and the ledger systems which will circulate information freely between different blockchains.
The analysis from Coinmarketcap states that Hypercash (HC) is ranked 73rd in the market of cryptocurrencies and its market value as on February 27 at 12:19 UTC is $50,606,489 for its corresponding 24h volume of $1,044,632. The market cap value of HC has been on a wave. It started as low as 38 million USD and jumped twice as much to 80 million USD between January 1 and January 12, with the highest value of USD 79,499,658 on January 12. The values have been downhill after the all-time high and reached the lowest on February 01 at 07:34 UTC with an MCap value of USD 37,372,540 which is 35.41% lesser than the corresponding present-day MCap value. The values started improvising after that and have been stable. The MCap values have been range bound between 50 million USD and 55 million USD with insignificant variations in between. The 20-day Exponential moving average (EMA) exhibits a stabilized uptrend in its current value. The values had a relative growth of 26.52% in its current value from its past value of USD 39,999,477 on February 07. The increasing values have pushed the cryptocurrency into the bullish market, adding advantage to the digital currency.
CoinMarketCap has also been observing the prices of USD and BTC along with the MCap values. The present prices of USD and BTC on February 27, 2019, at 12:19 UTC are $1.16 and 0.00030148 respectively. Stats show that the MCap/USD pair has taken the lead, followed by the price of BTC. There were price swings in the price of BTC when it started low in January and reached the peak before going downtrend again. However, the price of BTC was at its lowest on February 08 with value 0.00026869 and has bounced up 12.20% to reach the present-day value. Both the pricing and the MCap values have been on a similar wave, with the same level of ups and downs. The market reached its pinnacle on January 12 at 22:34 UTC with its MCap value as high as USD 79,499,658, the prices of USD and BTC were $1.83 and 0.00049965, and the 24h volume was $41,788,676. The numbers went downhill after that, but it started ascending as fast as it went down. The cryptocurrency reached its milestone with the price of USD shooting from USD 0.909801 on February 08 to USD 1.28 on February 11, a 40.69 percentage growth within a short span of 3 days.
The 14-day Moving Average of this digital currency also exhibits an uptrend with Mcap value increasing from February 13 to the current value by 4.33%. With the MCap values of the digital currency on a stable increase and the moving averages on an uptrend and with the bullish pressure on the market, the cryptocurrency’s balance is in favour of the buyers both long term and short term investments. Investors would see a good profit if this market trend continues in the future. Similarly, traders investing in this cryptocurrency will increase the value of both the currency and their investment.
