Posted by Axios on Wednesday, December 11, 2018 12:00:25The price of bitcoin hit a new all-time high Wednesday, reaching $2,300 for the first time in over six months, but a coin that’s been on the rise since the beginning of 2017 and has an eye on the next big thing has fallen into your lap.
CoinBase, the world’s largest bitcoin exchange, announced that the QTum Coin had fallen in value to $3,000.
This was a stunning reversal of fortune for a coin on which bitcoin has fallen sharply.
Coinbase CEO Brian Armstrong said in a statement that QTums price drop came “on a very steep discount” from the peak it reached in December, and the price dropped by 25 percent within one day.
QTumi has been trading at $2.99 for more than six months and is up to $6.99.
The news is notable because it comes just a few weeks after bitcoin price hit an all-new high of $1,947 on Wednesday.
The coin’s price has fallen about 20 percent since then, but it has still hit new all time highs of $3.65 and $3 of $5,000, which are the two highest ever for bitcoin in history.
QTMU was launched in 2015 as a new cryptocurrency for the emerging blockchain technology.
The currency was supposed to have a more stable market cap, but Armstrong said it didn’t get there fast enough.
The coins price fell below $3 a few times during its first six months of existence, but bitcoin’s price continued to soar during its reign as the world leader in cryptocurrency.
At one point, bitcoin was trading above $10,000 a coin.
But in January, bitcoin’s value began to slow down, which led to QTMUs popularity in bitcoin circles, according to CoinDesk.
Bitcoin’s price crashed below $2 a coin in early February.
At that time, Armstrong told the BBC that bitcoin’s future is uncertain and it needs to continue to evolve.
QTIUM is an early-stage coin that may be more useful than bitcoin in its early days, but is more stable and it’s an asset that has been around for a while.
“It’s a coin, not a crypto-currency,” he said.
“If we had to be a cryptocurrency, we’d probably be trading in the $5-$10 range.
But we’re in the realm of being able to sell QTIMUs for $6-$10.”QTUM is based on the QTL project, which is an open-source blockchain framework.
QTL uses an open source software framework to create a distributed ledger, a set of records that allow people to trust each other.
The QTU coin is not yet finalized, but the project has a roadmap of major milestones that could take the coin to a future where people can use it to track and track other coins.
Armstrong added that QTIU is not the only coin with a price drop this year, but QTume’s fall in value may be even more significant.
He said it could take several months before the coin’s value begins to recover from the fall in price.
Armtharts comments come on the heels of another cryptocurrency, Ether, seeing a surge in value this week as it surpassed $3 for the third time in five months.
Ether has a price of about $1.25, and its value has surged nearly 200 percent in the last 12 months.