Locus Chain rallies nearly 200% out of nowhere – video game revival to thank?

YEREVAN (CoinChapter.com) – Locus Chain, a Singapore-based public blockchain, saw its token LOCUS rally nearly 200% month-to-date. The bullish uptrend fizzled out in the previous 24 hours, however, as the LOCUS price stood at $0.067 in the New York session opening bell on Jan 9.

So why did the token rally, and can investors count on another leg up?

Locus Chain (LOCUS) trading volumes declined.

Locus coin went from $0.026 on Jan 1 to $0.067 on Jan 9, yielding three-digit returns to the investors. Additionally, the trading volumes doubled, going from roughly $740,000 to $1.5 million in the same period. However, the rally fizzled out on Jan 9. According to data from CoinMarketCap, the 6% price decline coupled with a 50% slash in the trading volumes, which stood at just over $1 million.

The rally is not likely to last.

The disproportionate lowering in trading volumes could signify more pain ahead as the LOCUS price started to pare its recent gains. Additionally, LOCUS gave a choppy performance in the previous 24 hours, with the price fluctuating as much as 10-15% within the day.

The rally drew attention from the Twitterverse as well. Several coin trackers, including Coin Crunch, included LOCUS in the top 10 gainers month-to-date.

Meanwhile, the recent uptrend occurred with no apparent reason or recent developments on the chain. Could the “Kingdon under fire” revival cause the fuss?

Also read: FOMC meeting minutes confirm interest rate hikes in 2023 – more pain for stocks ahead.

Can “Kingdom Under Fire” claim the praise for the rally?

Kingdom Under Fire is a multiplayer game developed in South Korea in the early 2000s. The game had several editions, the last of which came out in late Dec 2022 and was based on the Locus Chain. It was then distributed by the Steam platform, gaining increasing attention, high approval rates, and positive reviews.

Several Twitter users also made the connection between the price increase and the game revival. One user tweeted that being on a platform like Steam and opening to the US market boosted the Locus Chain in the previous weeks.

It is not clear whether one game could have propelled such a price increase. However, other than Kingdom Under Fire and a newly developed website, Locus does not have much to offer.

Also read: Flare Token (FLR) Price Dumps 50% Ahead of Distribution – What Happened?

Click here to keep up with the ever-changing crypto market and never miss the scoop!