The BlackCardCoin token rose for three consecutive days, reaching its highest point since July 13.
BlackCardCoin (BCCOIN) jumped by over 115% on Aug. 14, making it one of the best-performing cryptocurrencies in the industry. It has risen by over 400% from its lowest point this month, giving it a market cap of over $32 million. However, it remains 90% below its year-to-date high.
The main catalyst for the rally was an X post in which the developers teased a game-changing partnership with a leading financial institution.
In most cases, cryptocurrency prices rally ahead of a major announcement. For example, this week, Trump-themed tokens like TrumpCoin and MAGA jumped ahead of his X interview with Elon Musk.
BlackCardCoin’s price also went parabolic after the developers injected $600,000 in liquidity into PancakeSwap (CAKE), the biggest DEX in Binance. These funds included $300,000 worth of Tether (USDT) and 100,000 BCCOIN.
Additionally, several exchanges like BigONE and Biconomy have listed the token. In most cases, crypto tokens tend to rally after being listed by major exchanges.
Meanwhile, the developers made a surprise token burn this week, a move intended to reduce supply. In an X post, they noted that they had burned 93% of the total supply. According to its tokenomics document, the total supply of BCCOIN was 150 million.
In its litepaper, BlackCardCoin aims to bridge the gap between traditional finance and decentralized finance. The developers are working on a debit and credit card that will allow people to transact globally. Therefore, there is speculation that the partner may be a company like Visa or Mastercard.
Still, BCCOIN could experience a “buy the rumor, sell the news” situation. In this scenario, the token could continue rising ahead of the news but suffer a pullback once the partner is revealed. For example, tokens like TrumpCoin, MAGA, and TRUMP all retreated sharply after the interview.
