PumaPay (PMA) Delivers Spectacular Performance on Bittrex Listing

[Magician]

PumaPay (PMA), a niche payment system, saw a massive price pump following a Bittrex listing announcement. Its value skyrocketed from triple-zero levels, soaring more than 375% at one point.

New Listing Update: The $PMA market is open, and trading will begin shortly on @BittrexExchange. For more information about PumaPay (PMA) visit: https://t.co/phyIqRKvhf #Bittrex pic.twitter.com/IrtOqerKNQ
— Bittrex (@BittrexExchange) October 23, 2018

The surge started at around 19:30 UTC on Tuesday, the price shooting up from $0.000298 to as high as $0.001945. PMA went down from that peak, trading at $0.001466, but still more than 375% higher in the past 24 hours.

Bittrex immediately claimed more than 40% of PMA trading as volumes picked up from extreme lows of under $70,000 to more than $2.3 million in 24 hours. The PMA/BTC pair on Bittrex saw the equivalent of $1.3 million traded in the past day.

PMA started trading at the end of July and has since been listed on a handful of exchanges. Bittrex is the first major marketplace of high repute to add the token. Until recently, HitBTC was the most active market, with small contributions made by CoinBene and the IDEX decentralized exchange.

PMA is an Ethereum-based token in a project targeting merchants who want flexible billing and payment solutions. The PumaPay system of smart contracts allows regular payments and various forms of time billing.

PMA saw a similar spike in September, hitting a record in BTC prices at 91 Satoshi and rising to around $0.0017. However, that pump happened on extremely low volumes. With a Bittrex listing, PMA may get additional attention.

Still at sub-penny prices and with a supply of 78 billion tokens, PMA may yet see appreciation although low-priced coins can be risky and volatile. On the bright side, the PumaPay initial coin offering (ICO) in March 2017 happened in a peak fundraising season and hauled in more than $117 million. However, the actual funds may be lower due to the sliding Ethereum prices. PumaPay is still one of the more prominent ICO projects with a working payment system. Along with Verge (XVG), PMA is one of the assets partnering with PornHub.

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