The last few days saw Decred (DCR) reclaim the prices above $100, after a series of project news saw and the publicity of Consensus 2018. Thus, DCR starts to look like one of the top performers for May.
DCR was up more than 21% net in the past seven days, and inched up by about 3.4% in the past day, to $110.26. Trading volumes are increasing gradually, to $13 million in 24 hours, but still far from the record spike a few days ago. In terms of BTC prices as well, the DCR rally seems promising. Most bullish predictions see DCR rise to $500, even $1,000.
There are several factors that may be giving a boost to the Decred project. For one, it is now an ASIC-mined coin, with a significantly increased hashrate. Some believe a high hashrate network works to make the asset more valuable, due to security.
The other chance is the recently announced work on an anonymous technology, potentially making DCR follow the success of Monero (XMR) and ZCash (ZEC).
The Decred project has all the features to succeed and develop in 2018, and some believe it belongs among the top 10 coins. But the exchange profile for DCR is somewhat limited, with more than 40% of trades happening on the OOOBTC exchange, and a large part on Bittrex.
So far, DCR has not seen listings on Binance, or the larger Bithumb and OKEx exchanges, which could add an element of speculative trading from Asia. If that happens, a higher price spike may materialize, especially in the case of a Binance listing, which immediately lifts a coin’s profile.