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⭐ Features
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Nasdacoin Is Defying Market Trends

  • Anatol Antonovici
    ⭐ Features

    Nasdacoin started at around $1.00 on Wednesday, Nov. 14, and at one point touched $4.95 the next day, suggesting a 395% increase

Nasdacoin Is Defying Market Trends
Cover image via u.today
Contents

Nasdacoin, with the ticker NSD, is a cryptocurrency that no one has really heard about before. However, the coin could draw attention amid the recent market collapse. When Bitcoin, Ethereum, Litecoin and the rest were losing over 10%, Nasdacoin managed to more than triple its price in less than a day.

The coin started at around $1.00 on Wednesday, Nov. 14, and at one point touched $4.95 the next day, suggesting a 395% increase — by far the largest growth among the top 100 coins. In fact, Nasdacoin and a few stablecoins were the only ones in green. Thanks to this bullish move, NSD could position itself in the 68th place on Coinmarketcap’s list, with a total market capitalization of $92 million during its peak.

However, as Friday came, Nasdacoin was defying the trends again. At the time of writing, the overwhelming majority of the top 100 coins are moving in a sideways direction, but most of them are still in the green. However, Nasdacoin is now the worst performer with a significant detachment from the rest of the coins, losing over 14% for the last 24 hours. Nevertheless, the cryptocurrency has maintained the greatest part of its recent gains, now trading at $3.54 as of 11:01 UTC.

Nasdacoin

What is Nasdacoin?

Even though extreme volatility is a well-known attribute of the cryptocurrency market, an almost 400% surge is still rare today, especially when it happens amid a general market crash. Thus, you might be wondering what’s behind this coin — that is, what is making it bounce so much?

In actuality, we have found there is nothing special in it that would motivate such an expansion. However, as the official website states, Nasdacoin is a “next generation of advanced solutions for all global monetary transactions.”

The whitepaper, a 20-page document, informs us that NSD is an encrypted and decentralized currency, which is open-source, peer-to-peer (P2P), and mineable. Besides acting as a P2P currency, Nasdacoin will fuel the Nasdacoin ecosystem, which is currently in development. It will comprise of an exchange platform, which will be downloadable on smartphones, a mining pool, a VISA-based card, and a marketplace as well as NASDACASINO, a gaming platform that will include casino-like and other types of games.

The whitepaper is quite straightforward as it has more images than descriptive texts, which makes us wonder whether the project as a whole can really inspire quality and confidence.

Why did NSD jump?

Considering the status of NSD — which has been a coin that nobody really knows or cares about — how could it find the community’s support and demonstrate such a bullish move? One of the reasons might point to the launch of the Nasdacoin Multilateral Platform, which came out on Oct. 30, 2018. The platform connects buyers and sellers of a wide range of products, from laptops or TV sets.

Some crypto watchers claim that the platform launch triggered the increase in NSD. However, the platform has been live since the end of last month — why did the cryptocurrency’s price react so late?

According to what we found, on November 14, moments before the NSD price started to increase, Nasdacoin’s Twitter account announced that it made history, as the coin could be traded on three crypto exchanges: Crex24, Mercatox, and BTC-Alpha.

 

If we check Coinmarketcap’s market data for NSD, Crex24 accounted for over 90% of the total trading volume of the coin during the price surge, with Mercatox getting about 4%. Are we dealing with a pump and dump scheme? We don’t know yet. Such schemes have become quite popular in this emerging industry, but so far, NSD could maintain most of its gains.

 

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About the author

Anatol is a passionate crypto writer that previously covered Forex topics for years. He realized the potential of blockchain technology at an early stage and redirected his focus right away

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Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says

  • Yuri Molchan
    📰 News

    A Bitcoin bull and investment guru Tim Draper predicts the calm before the storm for the XRP price, as “to call Ripple developers actions wrong is impossible”

Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says
Cover image via en.wikipedia.org

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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When asking a question about when XRP is going to hit its quickest high profits in the quora.com forum, a user gets a reply from Tim Draper himself, who says that the XRP price is about to experience an ‘explosive growth’.

Tim Draper is pumping XRP

Tim Draper, a prominent venture investor and a Bitcoin bull, seems to be excited by the current Ripple expansion. Judging by his words, he is predicting the XRP to soar in the short term, calling it the calm before the storm or ‘explosive growth’, putting it a different way.

Tim Draper says:

“Looking at the three-time growth of Bitcoin over the past 5 months, one would expect a similar result from XRP.”

XRP should have already grown beyond $0.6 or even $0.9 by now, says the crypto investor, when talking about the results of recent Ripple’s expansions and the partnerships the crypto unicorn has initiated lately.

“The company is actively developing, expanding the sphere of influence, enlisting the support of large financial institutions and constantly improving the technology of transfers.”

Finally, he states:

“In addition, Ripple is owned by SBI, a large corporation with companies such as R3. Everything indicates that the current situation, only the calm before the storm, in our case, before the explosive growth.”

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Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

Ripple expands to Washington, D.C.

Previously, U.Today reported that the crypto giant has decided to expand its presence to Washington, D.C., to be closer to regulators, as per the CEO Brad Garlinghouse, and educate them on crypto and the blockchain.

He stated to Forbes:

“We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times.”

Apart from extending its arms to Washington, Ripple has joined the Blockchain Association.

 

What is your bet on the price moves XRP is going to take in the near future? Share your view in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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