Peercoin, the first proof-of-stake Crypto coin, is advancing further in price both in US dollar terms and against bitcoins.
Earlier today, peercoins traded over $.49 and around BTC .0012500 on many Crpyto coin exchanges, while briefly hitting 150’000 satoshis (BTC .00150000) on Malta-based Bitcoin exchange “The Rock”.
This development is quite in line with earlier expectations of Peercoin being under-valued (read our earlier report http://bitcoinfinancial.info/litecoin-and-peercoin-may-be-undervalued-now/ of 20 Feb 2016).
Peercoin had reached and exceeded the BTC .00150000 level briefly in January on Cryptsy before the troubled exchange’s breakdown, but that notation (topping at 159’0000 satoshis) had to be taken with a grain of caution. So whether or not the BTC .00150000 mark is of any technical significance may be uncliear in light of the nature of Cryptsy and the goings on around that outfit.
If today’s BTC .00150000 price at The Rock is exceeded, this would mark a possible breakout of Peercoin to the upside, a development that has gradually been preparing and building for Peercoin over the last few months.