Many cryptocurrency projects sit unnoticed until their value grows. In the case of Decred, the argument is that the price increase was a plan for years. The need for a closer look at a few significant ecological changes is a good one.
DCRDEX Development Continues
Developers have been working feverishly for months to create a decentralized exchange for the Decred ecosystem. The initiative, called DCRDEX, has been around for a time. Atomic trades amongst Decred, Bitcoin, and Litecoin have support. Furthermore, in the next months, advocacy for Ethereum and Bitcoin Cash will be more vocal.
Only a few decentralized exchanges proactively study cross-chain interoperability and liquidity in comparison to other decentralized exchanges. DCRDEX is opening the path for a far more liquid trading opportunity without adding any more barriers. Things are going to get fascinating if it can efficiently bridge the gap to Ethereum.
Ecosystem Updates on a Regular Basis
Each week, content providers in the bitcoin business have a lot of material to cover. Some people even make frequent videos for certain purposes. Decred, for example, has a bi-weekly news update available on YouTube. The focus of this update is on development progress, staking, and other related topics.
Videos like these allow the community to express their enthusiasm with others in an easy manner. It’s also a simple method for people who aren’t familiar with the Decred ecosystem to learn more about it. YouTube, although not having the finest track history when it comes to cryptocurrency material, is still a viable video platform.
While it may appear insignificant to many, Decred’s co-founder participated in Nasdaq’s TradeTalks to examine the potential of blockchain technology in elections. It’s unclear whether Decred’s chain would be a good fit for that application. It is, in any case, extra exposure for the initiative and should not be disregarded.
Network Statistics Look Healthy
Crypto program’s entire network stability should always be considered. With the assistance of the Dcrstats website, Decred makes this quite simple. It shows a lot of data, but the most intriguing element is the network’s staking support. More specifically, there is a 6,652,838 DCR spread between the several staking pools.
Staking presently accounts for roughly 54% of the entire accessible DCR supply. It’s an all-time high for the network, implying that many investors are seeking a long-term investment. That could be one of the reasons why the value of the Decred has been soaring recently.
Decred Treasury Explodes
A Treasury established some time ago to help fund the ecosystem’s active growth. It used to hold a significant quantity of DCR, but that has changed in the last week or so. The current Decred treasury has recently seen a significant surge in price.
The DCR price increase is because some of this, and it only seems to be half of the explanation. Additional developers can be employed and additional ventures can build as the Decred Treasury develops in size. For the time being, it’s uncertain what the specific effect of recruiting more developers will be. That’s something to keep a close eye on in the weeks and months ahead.
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