Everyone's clueless about POA's 64% pump
In what looks to be the random pump of the day, POA network spiked over 64% in the last 24 hours, climbing to a 6-month high 623 Satoshi before curving south.
And while no one seems sure of the reason why, the rally sparked a renewed interest in the Ethereum sidechain with proof of authority consensus. Over the last 24 hours alone, there’s been more than 200 mentions of POA on crypto-related social channels, quite the leap from the average of 14 POA mentions in the past 7 days prior to the rally:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/d0a9b624e89ad5625c8c3253f67e90f5dafb58bed0e089f12cc107f49ca0173b_1559001847744_poa%20social%20volume.png)
As of yet, there seems to be no clear catalyst for the uptrend. There have been zero price-moving announcements from the project, nor rumours of upcoming exchange listings, possible future partnerships or similar teaser news.
As a result, some are trying to explain the 65% rally with auspicious TA:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/2c3425261691ccb73b8911f0cc5290615a85253bb9de067c1600c4e02ddd4b02_1559001856686_poa%20ta.png)
![](https://production-sanbase-images.s3.amazonaws.com/uploads/27b3490f54ac6842717810d7ff919c73c316589919df230d5030dff88203a8e4_1559001862076_poa%20ta1.png)
...while others are pinning the upswing on classic market manipulation:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/63289c2380b915fe1dfda55da03742386f075519a4d271c176492d27dd280ff1_1559001877243_poa%20pnd.png)
Despite the lack of viable explanation, however, the prevailing crowd sentiment on POA still seems to lean positive:
- POA breaking upwards 😉
- POA looking bullish again and might kick of again, keep an eye on it
- POA 💥💥💥
- Poa still showing strength after pump
And while some have welcomed POA’s massive green candle, others point to the coin’s uptick as further proof of the crypto market’s inherent irrationality:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/86b394371ad4b92320f485f7b03fbb4d58fc670e7329ae02a3cd6c077b7c895b_1559001910827_poa%20irrational.png)
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