Bytecoin is back on Poloniex

After many weeks of being grayed out, Bytecoin (BCN) has finally been unlocked on Poloniex. You can now deposit and withdraw BCNs as much as you want.byte coin screen shot

In the top 30

BCN is one of the cheapest cryptocurrency you can get.  Despite its low value maybe caused by the fact that a good number of investors couldn’t trade it, the coin always managed to stay in the top 30.

Currently ranked #25 according to CoinMarketCap, the price has been fluctuating more than usual since Poloniex unlocked it last week.

Where Bytecoin is coming from

On August 8th, 2017 the Bytecoin team posted a questionable tweet:

You can read:

“Don’t even try to blackmail us! Message to all ou haters and competitors!”

It turns out that was a response to John Pat, a large-scale holder who was threatening to dump his entire wallet within seven days if the team didn’t execute his request.

bytecoin sms 1

He demands were the following:

  • A public roadmap,
  • Transparent communication
  • The team to go public if they have nothing to hide
    • Including the number of team members
    • A way to communicate with them directly, in case someone wants to contribute to the project
    • For them (the team) to show their exact percentage of BCN holdings

bytecoin sms 2

Basically he wanted more transparency:

bytecoin sms 3

Poloniex the savior?

Few days later following this incident, BCN got unlocked on Poloniex. Is it due to coincidence, good timing or pressure? Whatever it was, that made a lot of people happy.

The cherry on the cake came today when the BCN team posted the roadmap on its Twitter account:

Conclusion

Bytecoin is back on Poloniex and a petition is already circulating for the altcoin to be added on Bittrex, now investors have to decide its fate.
Finally, Its team seems to be more communicative which is a plus in our volatile world.