PacCoin/$PAC Market Update February 12, 2018

What a difference a week can make.  The past week, The Cryptocurrency market regained some traction and is 40% off of the multi month lows set last Monday, which coincided with multi month lows in the US equity markets.  I would note that that in Mid-December the digital asset market was setting all time highs with a total market cap of 425 billion which is the same as it is currently.  After high volatility extremes, in this case a January high above 800 billion, a sharp sell off follows, which would appear to have been the case last week, as the total market cap shrank to 290 billion.  It is also important to note that the crypto market has still seen a 20x return as an asset class, over the past year, where as in February of 2017 the digital currency space boasted a total market cap of 19 billion.

Another interesting point is that global interest rate futures, specifically Eurodollar Futures and the US Treasury Complex, all have rates that have increased a few bps over the past week.  The VIX has come well off of its highs and is in the 26% range which is right near the midpoint of the past weeks low and high.

The February 5, 2018 panic, created an intermediate or potentially long term buy in the crypto space, as there was tremendous volume accompanied by extreme lows and then a positive close.  The majority of the top 25 cryptos have increased in value 30% to 40% with the bell weather, Bitcoin, rallying 35% off of its intraday lows.

Bitcoin’s percentage of the cryptocurrency space had remained in a tight range and is currently 35%.

As funds and leveraged spec’s were forced out of markets across the board, some intriguing numbers and percentages came about over the past week.

Cryptocurrencies are 41% off of the recent lows.

The VIX is 47% off of its recent high.  (Hint, Hint)

SPs are 2% above their low price on February 5, 2018.  (They did trade significantly lower after the US close, and into the US open the next day.)

The US Treasury Complex and Eurodollar Futures are showing slightly higher rates compared with last weeks prices.  Worth Noting, Eurodollar rates are only a couple basis point off multi year highs, last traded in August of 2015.

With the exceptional volatility in most asset classes, especially the crypto currency space, having a period of calm and trading in a range would be quite healthy.  The 420 billion level for total market cap has been support as well as resistance over the past few months, depending on the trajectory of the market.

Other important levels for the total market are:

830 billion, the all time high

650 billion, strong resistance

280 billion, strong support

195 billion, 3 month low, very strong support

Best Wishes,

The One 888

This Post Has 55 Comments

  1. where is the comment about pac, .. ?,, our interest is paccoin.

  2. I still have paccoin on yobit and trade satoshi,should i leave the coin there.Am confuse plsss,i need help

      1. I want to buy Pac coins on trade satoshi and on the exchange it’s shows the old coins and new $Pac coins. I have downloaded the redemption wallet and the new $Pac wallet . What shall I do buy the old coins and transfer them to the redemption wallet and leave them in there or transfer to the new $Pac wallet. Or shall I purchase the new $Pac coins and transfer them straight to the new
        $Pac wallet .

        1. If you already have old PAC in your old/redemption wallet, you will need to follow the redemption process to get your new $PAC coins.

          Currently, it is slightly cheaper to buy old PAC and redeem for $PAC, than it is to buy $PAC itself. Though this can change at any time.

          Also, TradeSatoshi will be delisting old PAC on Feb 25th.

  3. just wondering where my coins are?. did the redemption thing, followed your instruction pdf and send the coins to the address you instructed and i still haven’t received my new pac coins and my old pac coins are gone. so just wondering where they are and when i will be receiving the new ones?. bit concerned and worried …thanx

    1. The process takes about 24 hours, give or take, depending on volume. You sent during high volume. Just be patient, your coins are coming.

  4. How about some pac info? Such as why redemption was moved up, what happens to old pac etc etc.

    1. Because the masternode redemption went smoothly, and we want everyone to be able to get their coins.

      Old PAC will eventually be dead once delisted from the exchanges.

  5. Plz tell me how many new $Paccoin will i get against 4million old paccoin i am confused plz clear my point?

    1. 1000:1 ratio means divide your total by 1000. 4,000,000 = 4,000.

  6. Thank you for all these informations!

  7. my PACcoin coins are in the yobit exchange, can I already send them to the old wallet and then move them to the new wallet, or can I do it from 1 March?

    1. General public redemption is now live. Use the same addresses for the correct day based on the CST timezone.

      1. Where are the addresses located for redemption? Thank you.

  8. My pac coin on cryptopia. What should i do?

    1. Leave it there. They will redeem your coins for you.

  9. I have my old wallet with all of my coins and my new wallet downloaded. Need help finding the redemption wallet and associated addresses to send them to. Thanks.

      1. Thanks for your quick replies. Yesterday (Friday) I sent my old coins to B3UDXtQkmwfFy2Vx2mpAPasovgG395omhR It’s about 24 hours later and I don’t have anything as yet in my new $PAC wallet. Hope I did this correctly?

        1. So long as you put your new $PAC Core wallet address in the Transaction Comment line of the Redemption Wallet when you sent, you’re good.

  10. Cryptopia is blocking my PAC coin at this point, do you know when they release

    1. Cryptopia will redeem your PAC for new $PAC for you. Once that happens, you can trade them, or send to the new $PAC Core wallet.

  11. hi … I have more than 50.0000000 packs on yobit .. do I have to put it on the wallet or can I simply transfer all the cryptopia …?

    but if in case we send from yobit on wallet or cryptopia and yobit does not send our packs how can we do?

    1. You need to send them to your desktop wallet. You can not send them to Cryptopia.

      Yobit wallets are currently online.

      1. Thank you for your answer ..
        I transferred 1000000 on cryptopia none ever arrived ..
        so just from yobit put them on wallet?
        thank you so much

        sincerely with this swap many people lose their packs

        1. The only way anyone will lose coins, is if they don’t send to the addresses on the blog page. We can track and verify the transactions, and you can track the progress of the redemption as well here http://34.214.220.248:5001/#/search

          It’s not an instant process. Please allow at least 24 hours.

  12. Thanks so much for your effort so far, God will continue to bless you. I have followed all the instructions and I must say that everything went swiftly

  13. Many people are getting a fatal error “EXCEPTION : St13runtime_error CDB(): can’t open database file blkindex.dat, error-30974 paccoin in Runaway exception” when trying to load the old wallet. Does anyone have a solution to this?

    1. Save a copy of your wallet.dat. Delete blkindex.dat from your %appdata%\Roaming\paccoin folder. Reopen wallet.

      1. I’m using a MacBook Pro 10.11.6 OS X El Capitan…. I’ve search all my files and cannot find %appdata%\Roaming\paccoin or the blkindex.dat. Is your solution for PC’s? If not, where do I find the wallet.dat; blkindex.dat; or the %appdata%\Roaming\paccoin on my Mac?

        1. %appdata% is for Windows.

          You need ~Library\Application Support\paccoin

  14. it says can’t be opened because it is from an unidentified developer. i am using a mac to download.

    1. Go to your Applications folder, search for the Paccoin icon, right click on it and then click on open, a warning message will appear just click again open and then enjoy!

  15. I wanted to start my paccore wallet, but then it said that it had to rebuild the blocksize and that i had to check my date and time. After it checked it i clicked yes and now its stuck at ‘loading wallet’

    Whats going on?

    1. It needed to resync. Every time you close the wallet, it disconnects from the network, so when you open it, it has to catch up.

      If it will not go past the initial loading screen, you will need to make a copy of your wallet.dat and save it somewhere safe. Then uninstall and reinstall the wallet. After it’s installed and running, close the wallet, and insert your backup wallet.dat into the PaccoinCore folder, replacing the one that’s in there.

  16. Hi, i have a question.
    When do non-masternode User’s swap?

  17. Wait, so since I bought my PAC on Cryptopia, will it auto-update, or do I need to download something?

    1. Just sit back, relax, and wait for them to swap your coins for you.

  18. i have 183000 old paccoin in tradesatoshi..how i want to get new pac coin ?

  19. Is there anywhere we can buy pac now and if not do we have to wait until after the fork?

    1. You can buy old PAC on Yobit and TradeSatoshi (TS until Feb 25th).

      You can buy new $PAC on TradeSatoshi.

  20. Thank you so much for all the help you do and how smoothly everything went with the transfer of all pac to the new ones. Now we are looking forward to see when the rocket rises to the moon 🙂

  21. Hi,
    If I had my old PacCoin in a wallet and redeem would I get 1:1 as opposed to 1:1000 because they are on cryptopia?

    Normally hard forks give 1:1 so seems really unfair that you take 1000 old coins for 1 new coin?

    Please explain.

    Kind Regards

    Billy

    1. We are cutting the coin supply from 3.5 Trillion old PAC, to 3.5 Billion new $PAC. Supply goes down, price goes up.

      Example: If 1m old PAC was $1,000,000, then after the 1000:1 redemption, 1k $PAC = $1,000,000.

  22. good

  23. I bought 9 million pac for 1 stoshi. But after redemption price deacrese 5 times how is it possible. I didnt sell them.

    1. You bought with BTC. There are/were massive sell walls that locked the price of PAC at 1 satoshi with BTC, even though the actual price was/is much lower.

  24. Hi,

    Is the new $pac wallet also a staking wallet? Or only masternodes get a reward for keeping coins in there wallet?

    1. Hello,

      $PAC doenst stake in your wallet. You will need to run a masternode or be part of a shared masternode.

  25. I’m having a problem with my paccoin wallet. I have windows and I got a fatal error notice and i reinstalled the wallet and now my pac is not there after synchronizing it. Any help on what i can do to fix this?

    1. Did you make a backup of your wallet before uninstalling/reinstalling?

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