In just 3 short days PPC has appreciated 7 fold in value, going from 0.0004 to its current price of 0.00028. Crypto currencies accross that board have gone up sharply over the last week, most notably Litecoin (LTC) which now trades for $4.20 USD per coin, and Bitcoin (BTC) which is around $138 USD. So is this rise just a matter of all boats rising with the tide?
Certainly part of the momentum is a result of traders taking Litecoin and Bitcoin profits and buying cheapers currrencies to diversify. And there is no doubt that chatter on message boards and chatrooms account for another part of the momentum. One such piece of news suggests that the currency exchange BTC-e.com will soon be adding PPC to their offerings.
Traders often say buy on rumor, and then do your research otherwise you miss the boat. Following this advice has made me money in the past, and so far has made me money in PPC. I was happy to find that selling some of my litecoins yielded me significantly more bitcoins than I was used to. Nothing like a growing stack to put a smile on your face.
After taking a position, I am now learning more about what makes PPC a potentially feasible cryptocurrency. Two things stand out from the description, including “more energy efficient” and “minting based on adoption”. These two factors appear to make the software at least theoretically a better currency for widespread adoption, because it costs less to use, and because it will be easier to base prices.
In the short term however, the currency game is all about access to exchanges like btc-e.com and Mt. Gox.
So far, BTC-e.com sees value in supporting PPC, although no date has been set. Given its price of about 0.36 USD it is still quite cheap when compared to competing currencies such as TRC which is at 0.92 and Litecoin which is at $4.11.
We can assume that eventually, exchanges such as Mt. Gox will realize the increase in revenues they will generate as a result of carrying more cryptocurrencies, and based on price it looks like the market is ranking PPC in the number 5 spot in the currency race, close behind, Litecoin, Namecoin and Terracoin.
Comparing the charts of PPC and Terracoin, PPC might be mimicking Terracoins erratic rise soon enough.
PPC is available on Vircurex and soon BTC-e.com
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