Decred (DCR) Price Analysis: Listing in Binance Acted as a Breath of Fresh Air for The Crypto

Decred (DCR) is an open-source cryptocurrency that is focused on development funding, on-chain governance, and consensus mechanisms. Launched in Feb 2016 by the Bitcoin developers, Decred’s main feature include attention to community input, consensus vote, open management, and stable financial development. According to the official website of the project, Decred is a multi-platform digital currency with support for the most popular operating systems.

Other go to, and handy features of Decred are easy-to-use wallet applications enable sending, receiving, and mining, smart contracts, cross-chain atomic swaps, and cross-platform wallets. Decred also provides an added layer of security which helps in protecting any user from censorship and external influence.

DecredWith Return on Investment (ROI) of 2,481.25%, the market capitalization of Decred (DCR) on April 25, at UTC 07:44 was around 238,219,136 USD. Its price against Bitcoin was around 0.00453543 BTC per chip. Decred’s last 24 hours trading volume was approximately 1,838,345 USD. At present, Decred (DCR) is ranked at 31st place in cryptocurrency ranking. On March 31, its value was around 20.26 USD, however, today, after 25-days, the price of Decred hiked significantly, and it currently is trading at 24.48 USD, with a bounce of about 20.9%.

Let’s have a brief look at the variation of price of Decred (DCR) over time. The total market supply of Decred coins is around 9,679,903 DCR. The crypto hit the top of Bollinger Chart on Apr 25, 2018, and traded at 139.94 USD. Nevertheless, on Dec 28, 2016, it dropped to the bottom and priced at 0.394796 USD. Yesterday’s high and low for Decred (DCR) was 26.09 USD and 24.00 USD respectively. While the coin opened yesterday at 25.14 USD, it closed at 25.21 USD with a cumulative hike of 0.071194 USD (0.28%). The total trading volume of Decred (DCR) for the previous day was of 2,265,951 USD.

Decred (DCR) Price Forecast:

Decred (DCR) has already been trading on many well-known exchanges like Bittrex, Upbit, Huobi, and Poloniex for a long time. But it’s listing on Binance worked as a sonic boom for its growth. A brief analysis of Decred (DCR) will give one the feeling that it is indeed good crypto to be traded into. However, there are several factors that will influence the price of the token in the near future. Some of them include the popularity of the coin among miners, User-friendly wallets and the reliability of investors in it. In the light of factors mentioned above, we can assume that the coin will show good growth followed by a narrow price correction.

Decred (DCR) will probably see gradual and wave-like growth. In addition to that, many analysts suggest that the recent listing will benefit the coin a lot and it may rise up to the levels of $35 by the end of 2019 and now is a good time for long term investors to buy. To find more details regarding the coin’s future, do read our DCR predictions.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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