RegalCoin, the self proclaimed "BitConnect v2.0" a Bitcoin lending program shot up 73% in the past 24 hours reaching new all time highs in valuation at $43 today. Over the past 4 days, the coin made gains of 240%
At the beginning of the week, the coin was valued at only $13 so in total that's an astonishing 240% gain in only 4 days!
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The coin value rose earlier in the week, mainly due to hype surrounding YOBits adoption of the new REC coin. In addition to that however, there have been reports from many users complaining that their funds are frozen while the developers of REC are carrying out maintenance on the site.
With no movement of funds through the platform, then of course this will drive up valuation as it's perceived as demand which if trapped inside the platform, is of course synthetic. As soon as the functionality to transition funds comes back online, it wouldn't surprise me to see a bit of a waterfall as everyone tries to exit.
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