The price of Naga Coin (NGC) may see its fortunes change after a months-long sideways drift. The recent listing on Bittrex caused volumes to jump to a whole new range, possibly driving a more varied price action.
NGC went against the market trend, where all coins were in the red. The coin appreciated by more than 8% overnight on suddenly spiking trading, to $0.63. However, this price is within the habitual range for the past months.
In the December hype right after the ICO launched, NGC reached a peak just above $4. But just as it happens with ICOs, the price slid to below $1, drifting around $0.50 for months. The current spike is still not out of range for NGC, and time will tell if Bittrex trading will cause appreciation, or a further slide.
The Bittrex listing immediately grabbed more than 30% of NGC trading volumes, with the rest spread between Upbit and OKEx. For now, NGC remains supported by the Asian market, despite the project’s connections to the German fintech company, Naga Group.
Back in the fall of 2017, the Naga Coin project was called a scam at one point, especially due to the presence of Roger Ver as an advisor. But in 2018, NGC is seen as one of the promising digital assets, with an entire functioning ecosystem. The coin has a working wallet, and an exchange will be coming soon. NGC is a cryptocurrency designed for gaming and financial trading, also planning to launch a card for spending.