Polymath (POLY) more than doubled in price on Wednesday afternoon UTC time, before giving back a large part of its gain within hours of the spike.
As of 13:20 UTC, POLY traded at USD 0.259. The token is up a massive 43% for the past 24 hours and up 35% for the past 7 days.
The coin is currently ranked as number 125 by market capitalization, per CoinMarketCap.
POLY chart daily timeframe:
The sharp and sudden rally started on Thursday afternoon UTC time, when POLY first touched the USD 0.2 level. The token went on to break through that level in a strong way shortly after 5 pm UTC, reaching as high as USD 0.485 before the price again fell back.
The strong rally and subsequent slide for POLY came as sentiment improved across the crypto market over the past 24 hours. Among the coins that pumped was bitcoin (BTC), which smashed a key resistance level, and altcoins such as cosmos (ATOM), OKB and ravencoin (RVN).
Judging from comments from the crypto community on Twitter, the rally took...
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