Rocketing off against all market pressures otherwise, COINBASE:KNCUSD is the bubble in the balloon. I wish i was prepared to try to look at arbitrage opportunities here. All other major exchanges are asking for $1.50 +- while on coinbase we're seeing KNC hold steady at $2.00 for the past 2 hours, peaking out at near $2.50. Any thoughts here?
When I wrote the previous article, I wasn't expecting such a dramatic move, honestly. I was simply happy not all my favorite coins were tumbling. KNC at that time was up 5% for the week, compared to -5 to -20% for the rest. Now we're up to 20% for the week. Shows just how far down we really are comparatively. A 50% pump results in 20% gains.
Then again, KNC has been stuck in the basement the whole bullrun. What gives?