As of May 31, Decred DCR / USD is worth $ 167. DCR is a cryptocurrency that was launched in February 2016 with the intention of facilitating open governance, community interaction, and sustainable funding policies. It is intended to avoid a monopoly on voting status and to ensure that all DCR holders have an equal chance to make decisions. This means that large institutions cannot really turn things in their favor.
Should you buy Decred now?
On May 12, Decred was trading at $ 220, which is about a 25% drop in just a few weeks. Looking back to April shows similar trends. On April 17, Decred traded at its highest levels of around $ 235 and fell below the $ 100 mark on May 23.
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Another element of confusion to DCR’s thesis is the fact that it was trading at around $ 39 at the end of 2020.
So the question on everyone’s mind is, is DCR a worth $ 167 investment?
The immediate thesis is that even after a strong selloff in May, it did not come close to proving its late 2020 value. This gives the impression that the Decred project has a clear audience and that many people are investing in it. .
Invest in freedom of choice
Decred has an interesting voting process that is done through ballots. Anyone who wants to have a ticket can do so by freezing 5 DCR tokens. A voting ticket allows you to vote on crucial changes in the Decred ecosystem, and to prevent spam Decred charges 0.1 DCR token for each suggested change. Because of this, no one will present irrational changes. Implement the Lightning Network Protocol, which streamlines transactions.
With over 5,000 cryptocurrencies you could invest in, is Decred a worthy investment in June? The main attraction of this cryptocurrency is the fact that it does something different and gives power back to its users when it comes to the voting potential they have. It keeps the equality factor in check and ensures that everyone’s opinions, suggestions and ideas are heard. This is a consensus method that appeals to most people, as you don’t have to be a crypto whale for your voice to be heard regarding voting.
From May 23 to May 31, Decred gained 74.56%, which is exceptional, and has the potential to go up from here. You should invest in it if you can get it at the $ 165 mark amid expectations that the near-term momentum will continue, if not intensify. However, if there comes a time when it falls back below $ 100, it may not be the smartest investment because it implies that the sellers are in control and the bulls are likely expecting an even lower price.
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