I found this coin on coinmarketcap because it has the same short name (BTG) as the new forked Bitcoin Gold at Yobit exchange. I was actually looking for Bitcoin Gold but apparently it has not been added to coinmarketcap yet. I don't know why Yobit chose the symbol BTG for Bitcoin Gold when it's already taken by BitGem.
And woow I was shocked when I saw those numbers and chart! 900% growth in last 24 hours and decent volume too. I can't explain this but it has to do something with Bitcoin Gold fork that happened today.
It was probably the developers of the coin that chose btg as the ticker symbol, not yobit.
Bitcoin gold seems to be a cheap premined knockoff of Bitcoin. The developers realized anybody can make a Bitcoin fork with a slight improvement and it will instantly have tens of thousands of holders. Like an airdrop, except with the added fraud of using an older coin's block chain. Plus they stole the name from an early pre Bitcoin altcoin.
Bitgem is a decent older coin but like all older coin's it's code needs to be updated or it will get attacked and be made worthless. Somebody on cryptopia has a large btg wallet, over 1300 coins. That person should protect their investment by getting a detailed explorer like cryptoid and trying to get mineral or another device on board. Otherwise only a matter of time til somebody does a 51% attack and there will be a new person with an unlimited number of bitgem.