The Biggest Crypto Bubble of ABJcoin on 25th -26th November 2017
ABJcoin is currently Africa largest and most successful cryptocurrency in the world right now, The coin went live on the 7thof November 2017 after their initial Coin Offering which sold at $0.50 per ABJcoin.
The coin is currently listed on 3 exchange site listed below;
- Coinsmarkets at com/trade-BTC-ABJ.htm
- Stocks Exchange at exchange/trade/ABJ/BTC
- Trade Satoshi at com/trade-BTC-ABJ.htm
On the 25th of November 2017 between the hours of 8:00 am to 2:00 pm on the 26th of November 2017, the biggest bubble of the African Bitcoin happened as there was a huge dump of the ABJcoin.
This dump spiked from average of 20,000 ABJCOIN traded daily to over 100,000 ABJcoin traded on the 3 exchange sites with coinsmarkets taking the largest share of about 80% of trade volume.
This heavy coin dump and price slash have kept the ABJcoin community wondering what was really going on. Have ABJCOIN been Hacked or are developers dumping?
This begins to leave so many skeptical questions on the mind of the community and investors losing over 98% of their investment within 24 hours of trading.
In a response issued by the ABJCOIN admin on BitcoinTalk, he said
“Dear ABJCOIN community, while looking into the cause of the crash in the market of ABJCOIN, we asked all the exchangers to pause trading and search through their system to discover cause.
It was discovered that there was an hack of about 689,000ABJ and sold at ridiculous prices to users with over a 24hours trading volume of 523,000USD.
The correct statistics as to amount has not fully been disclosed by the exchangers.
On this, we urge every ABJCOIN holder to secure his/her account to help us fix this.
We have asked the exchangers to resume trading , as we believe that the community will recover from this faster. We are setting measures to return back to best price soon. #AbjcoinMoon
To investigate this further, We contacted ABJCOIN developers and we were told that a Major ABJCOIN Investor’s account was hacked of over 800,000 ABJcoin and was used to inflate the market at a crashed price which ranged from $0.01 TO $0.001 and that pulled down the market cap value of ABJcoin from Over $9,000,000 to about $150,000 within 10 hours . Entrepreneur Nigeria was assured that everything is being put in place as the team is negotiating to buy up all the inflated ABJcoin to save the market.
They said, “ABJCOIN WAS NEVER HACKED” and all the trading markets pushed trading will be restored back in a short while.
On this, Users are urged not to panic as they are safe with the ABJcoin Blockchain technology. You’re advised to secure your account with good passwords to avoid further leaking of funds into the market.
Stay tuned for more updates.