Max E.Mon, Apr 18, 2022 7:07 PM
Decred (DCR): 18 April Price Digest
The new week started with another rollback of BTC and other digital currencies.
Over the past 24 hours, the capitalization of the crypto market has decreased by another 4% to $1.801 trillion. BTC fell to a monthly low. On Monday, April 15, the largest digital currency retreated to $38,580.
The rest of the cryptocurrency market “goes hand in hand” with the main US stock indices, while the correlation with them only intensifies amid the ongoing downward correction. Most altcoins also went into the red zone, the average losses of the leading L1 tokens ranged from 4% to 6%.
ETH fell below $2,900 during the Asian session. At the time of the current review, BTC and ETH are trading at $38,878 and $2,898, respectively.
Cardano (ADA) and Solana (SOL) suffered the biggest losses from the top ten altcoins, these coins lost more than 7% in value and fell to $0.8805 and $95.53. XRP, Avalanche (AVAX) and Dogecoin (DOGE) retreated about 6% to $0.736, $72.94 and $0.134.
However, there are pleasant exceptions.Thus, over the last 24 hours, the price of the DCR (Decred) token has increased by 17.13%. At the time of writing, the value of the asset is $67.41.
DCR is a cryptocurrency that aims to solve the scalability problem faced by BTC. The activation of hard forks in the BTC and Bitcoin Cash blockchains was caused by a disagreement within the coin communities. Decred is decentralized and self-governing, therefore the network cannot be hard forked until the majority of stakeholders agree to it. This unique approach to dealing with hard forks issues could help Decred establish itself in an increasingly competitive cryptocurrency market.
The main advantages of Decred are decentralization, mining, which is available via conventional graphics cards, as well as the use of a hybrid PoW + PoS consensus model.
The project stakeholders are currently voting on the four consensus agendas included in Decred v1.7. If consensus is reached, new rules will come into play. The rapid development of the project is the key to a permanent increase in the price of the asset.