Peercoin surrenders most of its gains, trading flat near 0.0026 BTC

Peercoin (PPC) has given back the bulk of its gains from its rally that started 2 weeks ago, losing over 40% in 24h to fall as low as 0.0023 BTC ($0.95). It is currently worth 0.0026 BTC in flat trade, although with the compounding effects from Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's fall, its dollar-denominated decline continues. Earlier, it fell as low as $0.90.

PPC had gained over 140% 2 weeks ago upon the unveiling of Nubits, which ironically enough, was touted as the solution to cryptocurrency's Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term. PPC then proceeded to lose 50% in just over 24h, then bounced back by 40%, then gradually slid 20% and finally plummeted another 40%. This makes for the wildest stretch of trading for any major cryptocurrency in recent memory.

Apparently, traders are no longer enamored. The Nubits website now describes how this new currency is simply tied to the dollar: 1 Nubit (NBT) = $1. "No complex math at the point of sale is needed." NBT can be purchased on the CCEDK exchange.

Peercoin has fallen back to 7th in market cap rank (4th among mineable currencies). Its total valuation is now $25.2 million.