With all of the attention focused largely on Bitcoin and Ethereum it can be hard to find solid news on other cryptocurrencies with good potential. The big buck players get all of the limelight and the sub-dollar altcoins often get swamped with spurious tweets from questionable sources or social media FUD.
One such altcoin that has been making moves recently is Dentacoin, a dental industry based cryptocurrency. According to reports, the blockchain that touts itself as the ‘future of dentistry’ has shot up 900% in just a few days. The price spike has taken it into the top 30 crypto list by market capacity where it currently sits in the 26th position.
Comparable to the low priced shares that have the potential to jump, these sub-cent altcoins often show similar chart patterns. DCN was trading at $0.0007 on January 5 and has now jumped to $0.007, it has risen a further 175% in the past 24 hours. Its recent spurt pushed the market capacity for this relatively unknown altcoin to over $2 billion.
Dentacoin is an extremely high volume crypto with 1.8 trillion of them, and 325 billion in circulation which lends to the notion that it would be difficult for something like this to climb to over a dollar. The ICO was launched in October where the company offered 3% of its total token amount.
Currently, Europe’s HitBTC carries the lion’s share of the trading in DCN with almost 90% of the total volume. Around $48 million has been traded in the past 24 hours.
Reason to Smile
Since its inception in late 2017 Dentacoin has already acquired a number of partners including F3T Dental Clinic in the UK, Swiss Dentaprime in Bulgaria, India’s Dentech Dental Care, and Mr. Iteeth from Taiwan. According to the editor of the UK’s Dentistry.co.uk:
It’s amazing that the most fashionable financial instrument of the moment ‘cryprocurrency’ has come to dentistry…and the global financial markets seem to like it, at least so far. Over the past month Dentacoin has been one of the top blockchain currencies in the world, performing far better than famous alternatives such as Bitcoin.
The site went on to describe the mission of the Dentacoin Foundation as the advancement of dental health through blockchain technologies to provide equal access to high quality dental care to all individuals, despite their income.
Aside from altcoin mania there seems to be no other reason for the recent spike in the chart, the latest Tweet from Dentacoin only mentioned ‘more good news tomorrow’ as many others have done.
🔝 #Dentacoin in Top 25 cryptocurrencies on CoinMarketCap! Over $2.5 billion market cap and $20 million trading volume for 24 hours, proving the large number of new supporters! ➡️ More good news about the growing Dentacoin network tomorrow… Stay tuned! pic.twitter.com/z5Q4XxDfHS
— Dentacoin (@dentacoin) January 7, 2018
Will you be buying into Dentacoin or is it just another pump and dump? Share your comments below.
Images courtesy of AdobeStock