The crypto markets are a sea of red this Monday morning, with the exception of altcoin Decred (DCR). Coins such as Dash (DASH), Ethereum (ETH), and Bitcoin (BTC) are all currently down.
For today’s article, we are going to be looking at the following altcoins: Dash (DASH), Ethereum (ETH), and Decred (DCR).
Dash (DASH) is currently selling for $454.21. This puts Dash (DASH) down 6.57% in the past twenty-four hours. Dash (DASH) is ranked as the 10th largest cryptocurrency by CoinMarketCap.
Dash (DASH) is an open source P2P virtual currency, heavily involved in the payments sector. On May 5, Dash published a blog post on its website, titled ‘Key Reasons Why Dash (DASH) Should be on Your Investment list in May 2018.’ It cited reasons such as Dash (DASH) gaining more value. In addition, the blog stated that there is a payments provider – Rocketpay – that has been helping South East Asian businesses to learn about the platform and how to use Dash (DASH) in transactions. Reportedly, Rocketpay will soon allow its users to store Dash (DASH) in an e-Wallet.
Moreover, Dash wrote that Dash (DASH) should be invested in this month because the GODEX.io exchange just added it. But if the Dash Core Group is optimistic about the direction the altcoin will take this month, why is Dash (DASH) down nearly 10% in the past twenty-four hours? Is it just because the majority of the crypto market has the Monday blues? Or is there an underlying reason? The Dash Core Group has not announced anything today.
Ethereum (ETH) is currently selling for $731.39. This puts Ethereum (ETH) down 6.57% in the past twenty-four hours. Last month, on April 13th, Ethereum surpassed the $500 price mark. Ethereum (ETH) is still ranked as the second largest digital currency by CoinMarketCap.
Ethereum (ETH) has a justifiable reason for being down. Today, a group of SEC and CFTC officials will meet to decide the future of crypto regulation. Specifically, to see if virtual currencies should act under the same rules as stocks. Ethereum (ETH) is the cryptocurrency at the center of this debate. The news that Ethereum (ETH) was first being looked into was announced last Tuesday. Keep your eyes peeled for the outcome of the meeting. Whatever the result is, it’s likely the Ethereum (ETH) price will see some movement – up or down.
On the brighter note, the Ethereum team announced the latest Ethereum Foundation grants last week. The team disclosed that it funded 22 recipients for a grand total of $2.84 million.
— Ethereum (@ethereum) May 2, 2018
Decred (DCR) is currently selling for $86.99. This puts Decred (DCR) up 2.75% in the past twenty-four hours. It is ranked as the 28th largest cryptocurrency, and every single coin before it (such as Waves –ranked 27th) is in the red zone.
Decred is beneficial as it helps to solve a common problem endured in Bitcoin governance. Essentially, Decred allows its users to easily transition from one set of rules to another. Decred (DCR) is up on the day that its community coordinator, Noah Pierau, is set to present in Warsaw. He will be presenting to a crowd, informing them about the Decred (DCR) altcoin and the future of the platform.
— Wicked Crypto Meetup (@WickedCrypto) May 7, 2018
The presentation will be live streamed – are you going to watch it? How do you feel about the crypto markets sporting a red look today? Is it a sign of how the entire week is going to look? Let me know what you think.
Featured Image: twitter