The latest downturn of the markets created a lot of bagholders, holding onto depreciating crypto assets. But there are also short-term winners, like the Docademic (MTC) ICO, which started trading in May, and since then achieved between 20 and 40-fold gains, both in dollar terms and against Bitcoin.
One of the reasons for the continued strength of an asset that started at less than $0.02 was a promotion from John McAfee, mentioning the asset several times and increasing interest.
https://twitter.com/officialmcafee/status/1007593208031993857
The MTC market price is surprisingly amenable to manipulation, given that daily volumes are still around 300 BTC. Most of MTC trading is against Bitcoin - but there is a 13% share of Tether (USDT) trading, significant for a brand-new token. This would allow traders to quickly move into MTC markets, given the extra liquidity. With 2.5 billion USDT tokens, the crypto market sees additional opportunities for gains and exchanges.
!MTC!
MTC prices rose by 26% overnight to $0.35, as the climb from last week continues. The token is constantly popularizing itself by airdrops, and stresses a strong use case in the medical sector. John McAfee went as far as to tie Docademic to his 2020 US presidential elections campaign, yet another attention grabber in the crypto space. MTC is up a net 125% in the past seven days.
One of the reasons for the continued appreciation is the Docademic app launch coming this July 23, when the first use cases for offering mental health help would be open. Docademic aims to tokenize and democratize healthcare for easier access.
In the short term, MTC prices may retreat after the rapid appreciation over the weekend. But Docademic will remain one of the projects with a growing community, and the potential for almost constant mentions and visibility. MTC has entered the top 100 of tokens with a market capitalization of above $100 million. But the token is yet to join the $1 billion market cap club.
MTC, or Medical Token Currency, is, according to Etherscan, distributed to a bit more than 6,000 addresses. This is still comparatively low, given the high ambitions of Docademic to compete in the industry of medical records and healthcare access.
This article appeared first on Cryptovest