Investment

Thanks to an investor mistake, Bitcoin Gold has risen to $113

On the Binance cryptocurrency exchange, one Bitcoin Gold token costs $98.29. But how did a long-forgotten coin, which had been largely ignored by traders since the winter of 2018, suddenly become relevant?

Investors inadvertently “revived” the pace of one of Bitcoin Gold’s (BTGalmost )’s forgotten forks, resulting in a 173 percent increase in the token’s value and a regular trading volume that surpassed $250 million.

This occurred as a result of a mix-up with the Bitcoin fund of one of Brazil’s largest banks, BTG Pactual. The bank partnered with the Gemini crypto exchange to store and handle assets using a ticker that resembled the bitcoin fork, which drew tens of thousands of buyers.

The Bitcoin fork rate on Binance jumped from $39.90 to $102.52 in less than a week after news of the collaboration with BTG Pactual appeared on the official Gemini blog on April 5! The rumor mill is still circling him, particularly since the coin cost $93.67 yesterday.

In response to the continuing craziness, several members of the crypto community joked that the industry has yet to mature because people can confuse a bitcoin fund with a fork of the main cryptocurrency due to letter similarity.

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