John McAfee's Second Coin: BURST
As crypto markets are starting to bounce back, the McAfee Effect may be felt on BURST.
John McAfee tweeted his second "coin of the day", this time it's Burst:
Coin of the day: BURST -- First truly Green coin and most overlooked coin. Uses 400 times less power than Bitcoin. Super secure and private. Includes smart contracts, encrypted messaging, decentralized wallet, libertine blockchain. Most undervalued coin. https://t.co/vOJOtNYLXp— John McAfee (@officialmcafee) December 22, 2017
The coin, a relatively underpriced and unknown digital asset, may respond to the renewed interest soon.
With a price of just 4 cents, BURST has a big upside potential. And trading volumes responded with a spike to $19 million in 24 hours.
BURST has had its breakout even before McAfee picked out the asset, as it grew out of the sub-penny prices and set on a climb against Bitcoin.
BURST is available through major exchanges Bittrex and Poloniex, as well as the almost unused BURST asset exchange.
What is BURST?
BURST advertises itself as the green cryptocurrency. But BURST uses proof-of-capacity, relying on free disk space to secure and verify transactions. In this, BURST is similar to STORJ, a coin touted by Jackson Palmer as one of the few realistic ICOs this year. It is also similar to MaidSafe (MAID).
BURST is a coin dating back to 2014, a long time for any cryptocurrency. For a long time, it settled around $0.0004, only to rise sharply in the altcoin boom in May-June, and again this December.
@Burstcoin_dev I can't wait for December 27th! I have never seen Market Depth like this! I am mining 12TB right now. I can't wait to use the exchange. You are primed for sucess! @Apple #Apple #BURST $BURST $FUTURE #BestCoinToMine pic.twitter.com/0olPLHwmNU— Von Likenstien (@KylAll) December 13, 2017
Whether the upward run for BURST would be similar to that of Verge (XVG) is anyone's guess, especially with the rapidly falling Bitcoin price.
BURST has had its pumps in the past and this time may be more dramatic, but the coin remains a risky investment compared to more liquid assets. In the next few days, or even hours, BURST may have another spike, but also a correction is always possible with this volatile market.