IOST, which came up in the 2018 wave of interest in the Nabo public chain, rose 13% in 24 hours. With a market cap in the tens-of-millions range, it’s a small-cap coin—about 2.1 million in daily trading volume. In recent years, I basically haven’t seen this name on the boards.
Small-cap old coins that catch up usually move in much the same way: the float is light, so even this amount of volume can lift the price by a large margin, and the order book depth can’t really withstand a big order being dumped on it. This kind of move has been buried on me several times over the past few years—I always hesitate when an old coin suddenly goes into action.
Whether it can be held tomorrow depends on whether there’s still someone to take the second baton with this volume.
Small-cap old coins that catch up usually move in much the same way: the float is light, so even this amount of volume can lift the price by a large margin, and the order book depth can’t really withstand a big order being dumped on it. This kind of move has been buried on me several times over the past few years—I always hesitate when an old coin suddenly goes into action.
Whether it can be held tomorrow depends on whether there’s still someone to take the second baton with this volume.
