[ad_1]
NCC is expanding. Are you our next full-time journalist on the US West Coast? Send us your resume and examples here.
In each market slaughter, there are winners. Those who sold more than 50 satoshi on Dogecoin may have noticed that their sales had increased recently.
Dogecoin's application has apparently picked up while the rest of the market was on a sales frenzy. The price of Dogecoin has risen by about 6 Satoshi over the last 48 hours, representing a total trade volume of more than $ 11 million, a gain of more than 10%.
Dogecoin is an often forgotten coin, although it is accepted by several major suppliers and traded on all respectable altcoin scholarships. The piece was born from the very culture of the early 2010s and its only major differences from Bitcoin are its inflationary character – it will never stop producing new chips – and uses Scrypt, the same hash algorithm as Litecoin.
At the very beginning of his community, Dogecoin made some interesting marketing achievements, including sponsoring a professional race car driver and a lunar rover.
The explanation of the price increase may not be the demand, exactly. It may be rather a correction on the part of sellers trying to get a figure in USD – as the price of Bitcoin goes down, the amount of satoshi to which a given altcoin is valued must imperatively increase so that the price remains "stable".
Nevertheless, the downtown market following the collapse of Big Bitcoin illustrates how the majority of crypto-currencies still depend on Bitcoin for their liquidity and valuations. It is possible that, in the coming years, Stablecoins will become the new metric according to which most of the altcoins are judged, according to the prophecy of the large-scale divorce of the cryptos of the necessary pricing in Bitcoin. If or when this happens, the actual value of the chips will be expressed more clearly. Currently, most calculations, or actually, all calculations are relative to the Bitcoin / Fiat markets, and so it's hard for something like Dogecoin, which finds its best use case in tips and microtransactions, to really find its value.
In some cases, Dogecoin or Litecoin is the best way to withdraw trading funds where the fixed costs for Bitcoin are high.
Whatever the case may be, the price of Dogecoin will always have to match its gigantic offer. A public blockchain still in motion could be useful in the creation of all kinds of things, but nobody to our knowledge has yet undertaken such an approach.
Selected image of Shutterstock.
Get exclusive cryptographic badysis by professional traders and investors on Hacked.com. Register now and get the first month free. Click here.
[ad_2]
Source link
